NOT LISTED FOR SALE

216 E Magnolia St Arcadia, FL 34266

Estimated Value: $369,000 - $405,200

2 Beds
1 Bath
3,454 Sq Ft
$114/Sq Ft Est. Value

Last Sold May 03, 2021

Last sale price $275,000 $80 Per Sq Ft

Est. 43% increase in value since last sale

Current estimated payment $2,881/month

59 Days on Market

Highlights

  • City View
  • Attic
  • Separate Outdoor Workshop
  • Wood Flooring
  • Corner Lot
  • Front Porch

About This Home

As of May 2021

** BACK ON MARKET *** HERE'S YOUR CHANCE TO live and work under the same roof OR Lease it all out. Either way - you have options with this one. ***THREE separate professional OFFICES **** in the front of the building with ****THREE EXISTING RENTALS****** TWO 2 bedroom/1 bath units and ONE 1 BEDROOM/1 BATH efficiency on the rear side of the building with plenty of parking to accommodate. Separate detached garage for storage or business purposes. Great location right on Highway 70 east in Arcadia. With rezoning, the large front offices MAY be converted (please check w Planning and Zoning) into another 2 br/1.5 bath apartment for a total of 4 single family rental units. The existing three units all have separate utilities and access to a common laundry room, garage is detached with an electric door and entrance on side street - Property is partially fenced. Excellent maintenance and located within a short distance to the courthouse, historic downtown, hospital, shopping, and restaurants. New roof, windows, siding, and misc. renovations in 2004. A 600 sf rear addition in 2005, 800 sf apartment addition in 2014, and interior floors and bathroom updates in 2016. Turn key income property. Call today for an appointment - this incredible investment opportunity simply WILL NOT LAST. Being offered as is.

Last Agent to Sell the Property

Amelia Lyons

RE/MAX PALM REALTY License #3048019 Listed on: 01/22/2021

RE/MAX PALM REALTY

Last Buyer's Agent

Amelia Lyons

RE/MAX PALM REALTY License #3048019 Listed on: 01/22/2021

RE/MAX PALM REALTY

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1954

Lot Details

  • 0.33 Acre Lot
  • Property fronts a highway
  • Fenced
  • Corner Lot
  • Oversized Lot
  • Level Lot
  • Street paved with bricks

Parking

  • 1 Car Garage
  • 1 Carport Space
  • Parking Pad
  • Common or Shared Parking
  • Ground Level Parking
  • Side Facing Garage
  • Garage Door Opener
  • Driveway
  • Guest Parking
  • On-Street Parking
  • Off-Street Parking
  • Assigned Parking

Home Design

  • Quadruplex
  • Slab Foundation
  • Wood Frame Construction
  • Shingle Roof
  • Block Exterior

Interior Spaces

  • 3,454 Sq Ft Home
  • Partially Furnished
  • Ceiling Fan
  • Decorative Fireplace
  • Electric Fireplace
  • Window Treatments
  • Utility Room
  • City Views
  • Fire and Smoke Detector
  • Range
  • Attic

Flooring

  • Wood
  • Laminate
  • Ceramic Tile

Laundry

  • Laundry Room
  • Dryer
  • Washer

Outdoor Features

  • Exterior Lighting
  • Separate Outdoor Workshop
  • Outdoor Storage
  • Front Porch

Location

  • City Lot

Schools

  • West Elementary School
  • Desoto Middle School
  • Desoto County High School

Utilities

  • Central Heating and Cooling System
  • Thermostat
  • Propane
  • Electric Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for electricity, sewer, water
  • Legal Lot and Block 4 / 49
  • Assessor Parcel Number 25-37-24-0012-0490-0040

Community Details

Overview

  • 4,578 Sq Ft Building
  • Town/Arcadia Subdivision

Pet Policy

  • Pets Allowed

Building Details

  • Gross Income $40,800

Property Details

Home Type

Multi-Family

Year Built

Built in 1954

Lot Details

0

Parking

1

Listing Details

  • Property Type: Residential Income
  • Property Condition: Completed
  • Property Sub Type: Quadruplex
  • Property Description: Walk-Up
  • Disaster Mitigation: Above Flood Plain
  • Construction Materials: Block, Wood Frame
  • Fireplace: Yes
  • Living Area: 3454.00
  • Lot Size Acres: 0.33
  • Year Built: 1954
  • Building Area Total: 4578.00
  • Down Payment Resource URL: https://www.workforce-resource.com/dpr/listing/MFRMLS/A4489542?w=Agent&skip_sso=true
  • Down Payment Resource URL 2: https://www.workforce-resource.com/dpr/listing/MFRMLS/A4489542?w=Customer
  • Lease Term: 12 Months
  • Lot Size Sq Ft: 14505
  • Number Of Lots: 1
  • Tenant Pays: Electricity, Sewer, Water
  • Building Search Sq Meters: 425.31
  • Down Payment Resource Assistance: https://www.workforce-resource.com/dpr/listing/MFRMLS/A4489542?w=PubMLS
  • Directions to Property: From Highway 17 North go east on Highway 70 about two blocks, building is on right hand side. Look for sign.
  • Escrow State: FL
  • List Office Head Office Key Nume: 1045793
  • Status: Sold
  • Street Direction: E
  • Tax Year: 2020
  • Special Features: None

Interior Features

  • Fireplace Features: Decorative, Electric
  • Living Area Units: Square Feet
  • Additional Rooms: Attic, Inside Utility
  • Flooring: Ceramic Tile, Laminate, Wood
  • Interior Amenities: Ceiling Fans(s), Thermostat, Window Treatments
  • Appliances Included: Dryer, Electric Water Heater, Range, Refrigerator, Washer
  • Foundation Details: Slab
  • Levels: One
  • Living Area Meters: 320.89
  • Street Number Modifier: 216

Exterior Features

  • Other Structures: Workshop
  • Exterior Features: Fenced, Lighting, Sidewalk, Storage
  • Roof: Shingle
  • Flood Zone Code: x
  • View: City
  • Patio and Porch Features: Front Porch
  • Road Surface Type: Brick, Paved

Garage/Parking

  • Carport Spaces: 1
  • Carport Y N: Yes
  • Garage Spaces: 1
  • Garage Yn: Yes
  • Parking Features: Assigned, Common, Covered, Curb Parking, Driveway, Garage Door Opener, Garage Faces Side, Ground Level, Guest, Off Street, Parking Pad

Utilities

  • Utilities: Cable Available, Electricity Available, Electricity Connected, Fire Hydrant, Propane, Public, Sewer Connected, Street Lights, Water Connected
  • Cooling: Central Air
  • Heating: Central, Electric
  • Laundry Features: Inside, Laundry Room
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Pet Restrictions: See municipality pet restrictions.
  • Security: Smoke Detector(s)

Schools

  • Elementary School: West Elementary School
  • Middle School: DeSoto Middle School
  • High School: DeSoto County High School
  • Elementary School: West Elementary School
  • High School: DeSoto County High School
  • Middle Or Junior School: DeSoto Middle School

Lot Info

  • Total Acreage: 1/4 to less than 1/2
  • Zoning: B-1
  • Parcel Number: 25-37-24-0012-0490-0040
  • Lot Features: Corner Lot, Highway, In City Limits, Level/Flat, Oversized Lot, Sidewalk, Street Brick, Street Paved
  • Property Attached Yn: Yes
  • Lot Size Square Meters: 1348

Rental Info

  • Furnished: Partially
  • Pets Allowed: Yes
  • Total Actual Rent: 3400

Multi Family

  • Annual Expenses: 9200
  • Total Monthly Expenses: 766
  • Total Num Buildings: 2
  • Unit Count: 4
  • Gross Income: 40800
  • Number Of Units Total: 4

Tax Info

  • Tax Annual Amount: 6881.27
  • Tax Block: 49
  • Tax Lot: 4

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 22, 2021
Closed on
May 3, 2021
Sold by
Sullivan Investment Services Inc
Bought by
Figueredo Mark
Seller's Agent
Amelia Lyons
RE/MAX PALM REALTY
Buyer's Agent
Amelia Lyons
RE/MAX PALM REALTY
List Price
$319,000
Sold Price
$275,000
Premium/Discount to List
-$44,000
-13.79%
Current Estimated Value
$392,733

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$117,733
Avg. Annual Appreciation
8.28%
Original Mortgage
$245,000
Outstanding Balance
$221,684
Interest Rate
3%
Mortgage Type
Balloon
Estimated Equity
$171,049

Purchase Details

Listed on
Apr 25, 2018
Closed on
Oct 1, 2018
Sold by
Bushoe James and Bushoe Juanita L
Bought by
Sullivan Investment Services Inc
Seller's Agent
Kaye Mercer
TURNER REALTY, INC.
Buyer's Agent
Stellar Non-Member Agent
Stellar Non-Member Office
List Price
$279,900
Sold Price
$260,000
Premium/Discount to List
-$19,900
-7.11%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.19%
Original Mortgage
$230,000
Interest Rate
4.5%
Mortgage Type
Balloon

Purchase Details

Closed on
Mar 7, 2017
Sold by
Bushouse James and Bushouse Juanita
Bought by
Bushouse James and Bushouse Juanita

Purchase Details

Closed on
Nov 4, 2013
Sold by
Bushouse Steven J
Bought by
Bushouse James and Bushouse Juanita L

Purchase Details

Closed on
Feb 18, 2004
Sold by
Benton Murray Guinn
Bought by
Bushouse Steven J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$77,900
Interest Rate
5.87%
Mortgage Type
Commercial

Purchase Details

Closed on
May 29, 2003
Sold by
Benton Murray Guinn
Bought by
Elsberry Peggy

Purchase Details

Closed on
Nov 8, 2001
Sold by
Benton Murray Guinn and Benton Letha G
Bought by
Benton Murray Guinn
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Figueredo Mark $275,000 Arcadia Abstract & Ttl Co In
Sullivan Investment Services Inc $260,000 Arcadia Abstract & Tite Co I
Bushouse James -- None Available
Bushouse James $80,000 Arcadia Abstract & Title Com
Bushouse Steven J $82,000 --
Elsberry Peggy -- --
Benton Murray Guinn -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Figueredo Mark $245,000
Previous Owner Sullivan Investment Services Inc $230,000
Previous Owner Bushouse Steven J $77,900
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
05/03/2021 05/03/21 Sold $275,000 -13.8% $80 / Sq Ft
03/22/2021 03/22/21 Pending -- -- --
02/15/2021 02/15/21 For Sale $319,000 0.0% $92 / Sq Ft
01/30/2021 01/30/21 Pending -- -- --
01/22/2021 01/22/21 For Sale $319,000 +22.7% $92 / Sq Ft
10/01/2018 10/01/18 Sold $260,000 -7.1% $74 / Sq Ft View Prior Sale
07/26/2018 07/26/18 Pending -- -- --
04/25/2018 04/25/18 For Sale $279,900 -- $79 / Sq Ft
Source: Stellar MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $9,662 $489,888 $20,000 $469,888
2023 $7,732 $342,958 $20,000 $322,958
2022 $8,665 $383,933 $20,000 $363,933
2021 $7,545 $311,776 $20,000 $291,776
2020 $7,512 $314,624 $20,000 $294,624
2019 $6,881 $273,481 $20,000 $253,481
2018 $5,200 $275,806 $0 $275,806
2017 $4,238 $211,119 $0 $211,119
2016 $4,020 $147,269 $0 $147,269
2015 $4,096 $148,417 $0 $148,417
2014 $3,235 $119,283 $0 $119,283
Source: Public Records

Agents Affiliated with this Home

  • Amelia Lyons

    Seller's Agent in 2021

    Amelia Lyons

    RE/MAX

    (863) 244-7695

    1 in this area

    42 Total Sales

    Amelia Lyons
    Section Image
  • Kaye Mercer

    Seller's Agent in 2018

    Kaye Mercer

    TURNER REALTY, INC.

    (863) 990-7001

    66 in this area

    85 Total Sales

    Kaye Mercer
    Section Image
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Map

Source: Stellar MLS

MLS Number: A4489542

Stellar MLS

APN: 25-37-24-0012-0490-0040

Florida DeSoto County Arcadia 34266

216 E Magnolia St, Arcadia, FL

This home is located at 216 E Magnolia St, Arcadia, FL 34266 since 22 January 2021 and is currently estimated at $392,733, approximately $113 per square foot. This property was built in 1954. 216 E Magnolia St is a home located in DeSoto County with nearby schools including Memorial Elementary School, DeSoto Middle School, and DeSoto County High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Stellar MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.



Listing Information presented by local MLS brokerage: Ten-X - (888)-952-6393

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