NOT LISTED FOR SALE

217 E Reed St Dover, DE 19904

Estimated Value: $347,000 - $361,000

Studio
4 Baths
2,560 Sq Ft
$138/Sq Ft Est. Value

Last Sold March 29, 2019

Last sale price $227,900 $89 Per Sq Ft

Est. 55% increase in value since last sale

Current estimated payment $1,945/month

88 Days on Market

Highlights

  • No HOA
  • Wall to Wall Carpet
  • 5-minute walk to Constitution Park
  • Central Heating

About This Home

As of March 2019

4 Unit INCOME PRODUCING, FULLY LEASED apartment building located in Dover, DE! All 4 of the units are one bedroom, one bathroom units. Within walking distance to shopping and public transportation. Two of the units have been recently renovated. A new roof was installed approximately 7 years ago. Owner has 11 years worth of financial documentation on file to provide to interested investors! Please provide 24-48 hours notice for all showings. This property is priced using an 11 cap rate and will not last long. Please schedule your tour today!

Last Agent to Sell the Property

Larry Thompson

(302) 856-4000 larrythompsonsells@gmail.com R&R Commerical Realty Listed on: 11/04/2018

Last Buyer's Agent

Larry Thompson

(302) 856-4000 larrythompsonsells@gmail.com R&R Commerical Realty Listed on: 11/04/2018

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,070

Year Built

  • Built in 1900

Lot Details

  • 2,614 Sq Ft Lot
  • Property is in good condition

Home Design

  • 2,560 Sq Ft Home
  • Quadruplex
  • Brick Foundation
  • Pitched Roof
  • Vinyl Siding

Flooring

  • Wall to Wall Carpet
  • Vinyl

Basement

  • Basement Fills Entire Space Under The House
  • Dirt Floor

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Central Heating
  • Natural Gas Water Heater

Listing and Financial Details

  • Tax Lot 0300-000
  • Assessor Parcel Number ED-05-07705-03-0300-000

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • Operating Expense $1,060

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,070

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Quadruplex
  • Structure Type: Detached
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1900
  • Special Features: None

Interior Features

  • Flooring Type: Fully Carpeted, Vinyl
  • Fireplace: No
  • Foundation Details: Brick/Mortar
  • Room List: Primary Bedroom
  • Basement: Yes
  • Basement Type: Full, Dirt Floor
  • Total Sq Ft: 2560
  • Living Area Sq Ft: 2560
  • Price Per Sq Ft: 97.66
  • Above Grade Finished Sq Ft: 2560
  • Above Grade Finished Area Units: Square Feet

Exterior Features

  • Other Structures: Above Grade
  • Construction Materials: Vinyl Siding
  • Exterior Features: Sidewalks, Street Lights
  • Roof: Pitched
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No

Utilities

  • Central Air Conditioning: No
  • Cooling Fuel: Electric
  • Cooling Type: Wall Unit
  • Heating Fuel: Natural Gas
  • Heating Type: Central
  • Heating: Yes
  • Hot Water: Natural Gas
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Condo Co-Op Association: No
  • HOA: No

Lot Info

  • Lot Size Acres: 0.06
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 2614.00
  • Property Condition: Good
  • Zoning: RG1
  • In City Limits: Yes

Rental Info

  • Vacation Rental: No

Tax Info

  • Assessor Parcel Number: 2437915
  • Tax Annual Amount: 1070.00
  • Assessor Parcel Number: ED-05-07705-03-0300-000
  • Tax Lot: 0300-000
  • Tax Data Updated: No
  • Tax Year: 2018

Multi Family

  • Gross Income: 38640.00
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 3

MLS Schools

  • School District Name: CAPITAL

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 6, 2021
Sold by
Herman Capital Holdings Llc
Bought by
De Square Llc
Current Estimated Value
$354,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$448,800
Outstanding Balance
$400,556
Interest Rate
2.71%
Mortgage Type
Future Advance Clause Open End Mortgage
Estimated Equity
-$46,556

Purchase Details

Listed on
Nov 4, 2018
Closed on
May 9, 2019
Sold by
Gems Properties Llc
Bought by
Herman Capital Holdings Llc
Seller's Agent
Larry Thompson
R&R Commerical Realty
Buyer's Agent
Larry Thompson
R&R Commerical Realty
List Price
$250,000
Sold Price
$227,900
Premium/Discount to List
-$22,100
-8.84%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.71%
Original Mortgage
$171,000
Interest Rate
4.1%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 13, 2007
Sold by
Davis Matthew M and Pierson David H
Bought by
Gems Properties Llc

Purchase Details

Closed on
Feb 17, 2007
Sold by
Hinzman Scott
Bought by
Davis Mathew M and Pierson David H

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$224,000
Interest Rate
6.5%
Mortgage Type
Adjustable Rate Mortgage/ARM
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
De Square Llc $251,000 None Available
De Square Llc $251,000 None Listed On Document
Herman Capital Holdings Llc $227,500 None Available
Gems Properties Llc -- None Available
Davis Mathew M $4,200 Superior Title Bridgeville
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open De Square Llc $448,800
Closed De Square Llc $448,800
Previous Owner Herman Capital Holdings Llc $171,000
Previous Owner Davis Mathew M $224,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/29/2019 03/29/19 Sold $227,900 -8.8% $89 / Sq Ft
01/31/2019 01/31/19 Pending -- -- --
11/04/2018 11/04/18 For Sale $250,000 -- $98 / Sq Ft
Source: Bright 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
2025 $1,345 $228,900 $34,500 $194,400
2024 $1,299 $228,900 $34,500 $194,400
2023 $730 $24,800 $2,100 $22,700
2022 $706 $24,800 $2,100 $22,700
2021 $680 $24,800 $2,100 $22,700
2020 $657 $24,800 $2,100 $22,700
2019 $621 $24,800 $2,100 $22,700
2018 $567 $24,800 $2,100 $22,700
2017 $557 $24,800 $0 $0
2016 $559 $24,800 $0 $0
2015 -- $24,800 $0 $0
2014 -- $24,800 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • L

    Seller's Agent in 2019

    Larry Thompson

    R&R Commerical Realty

    (302) 856-4000

    36 in this area

    72 Total Sales

    Larry Thompson
    Section Image
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Map

Source: Bright MLS

MLS Number: DEKT155726

Bright MLS

APN: 2-05-07705-03-0300-000

Delaware Kent County Dover 19904

217 E Reed St, Dover, DE

Not Listed for Sale

MultiFamily

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