NOT LISTED FOR SALE

2220 E Walnut St Des Moines, IA 50317

Fairground Neighborhood

Estimated Value: $137,000

-- Bed
3 Baths
1,568 Sq Ft
$87/Sq Ft Est. Value

Last Sold November 27, 2013

Last sale price $40,000 $26 Per Sq Ft

Est. 242% increase in value since last sale

Current estimated payment $971/month

201 Days on Market

About This Home

As of November 2013

This is a great investment opportunity. l@@K at this income trail $1,875 month that is $700 mo for front apt #1 $575 month apartmnent #2 rear plus $600 a monthy for apartment #3 upper! Utility expense 24 month average: gas & electric $280, water $150. Sellers have mowed and scooped but add $100 a month to the expenses. Insurance approx. $60 and Taxes about $218 that's $808 monthly plus Return on investment is $1,067 a month cash flow!! That is a 2% monthly return and a 24% annual return on investment needs $10,000 - $12,000 to repair to great condition and might dictate another $200 income for that investment even! Won't last 20% down conventional or cash buyers is where it is priced to sell from a estate!

Last Agent to Sell the Property

Steven Wolvers

RE/MAX Hilltop Listed on: 05/10/2013

Last Buyer's Agent

Steven Wolvers

RE/MAX Hilltop Listed on: 05/10/2013

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1890

Lot Details

  • 8,085 Sq Ft Lot
  • Lot Dimensions are 55x147

Home Design

  • Block Foundation
  • Frame Construction

Interior Spaces

  • 2-Story Property
  • Unfinished Basement
  • Partial Basement
  • 3 Kitchens

Utilities

  • Window Unit Cooling System
  • Forced Air Heating System

Listing and Financial Details

  • Assessor Parcel Number 05004413000000

Community Details

Overview

  • 3 Units

Building Details

  • Operating Expense $658
  • Gross Income $1,875

Property Details

Home Type

Multi-Family

Year Built

Built in 1890

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Style: Two Story
  • Lp Amt Sq Ft: 6.00
  • Sp Amt Sq Ft: 5.00
  • Year Built: 1890
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Refrigerators: 3
  • Stoves Total: 3
  • Full Bathrooms: 2
  • Full Bathrooms: 1
  • Basement Description: Partial, Unfinished
  • Kitchens: 3
  • Laundry: No

Exterior Features

  • Exterior: Frame
  • Foundation: Concrete Block, Poured, Tile

Garage/Parking

  • Off Street Parking: 10

Utilities

  • Air Conditioner: Window Unit
  • Heat: Gas Forced Air

Condo/Co-op/Association

  • Manager: No

Fee Information

  • Total Expense: 658

Schools

  • School District: Des Moines Independent

Lot Info

  • Acres: 0.1860
  • Qualifier Acres: More or Less
  • Lot S F: 8085
  • Lot Size: 55x147
  • Assessor Parcel Number: 05004413000000
  • Zoning: R1-60

Rental Info

  • Furnished: No
  • Landlord Tenant Utilities: Electric Landlord, Gas Landlord, Water Landlord

Tax Info

  • Gross Taxes: 2606.00
  • Net Taxes: 2606.00
  • Assessor Parcel Number: 2220EWALNUTSTPOLKDESMOINE50317
  • Tax Year: 2012

Multi Family

  • Total Units: 3

MLS Schools

  • School District: Des Moines Independent

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 10, 2013
Closed on
Nov 23, 2013
Sold by
Estate Of Venton D Nelson
Bought by
M & B Properties L L C
Seller's Agent
Steven Wolvers
RE/MAX Hilltop
Buyer's Agent
Steven Wolvers
RE/MAX Hilltop
List Price
$54,900
Sold Price
$40,000
Premium/Discount to List
-$14,900
-27.14%
Total Days on Market
201
Current Estimated Value
$137,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$97,000
Avg. Annual Appreciation
11.27%
Original Mortgage
$130,000
Interest Rate
4.3%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

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Range of Values:

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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
M & B Properties L L C $40,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed M & B Properties L L C $130,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/27/2013 11/27/13 Sold $40,000 -27.1% $26 / Sq Ft
11/27/2013 11/27/13 Pending -- -- --
05/10/2013 05/10/13 For Sale $54,900 -- $35 / Sq Ft
Source: Des Moines Area Association of REALTORS®

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 $2,460 $125,000 $20,400 $104,600
2023 $2,404 $125,000 $20,400 $104,600
2022 $2,810 $102,000 $17,100 $84,900
2021 $2,500 $102,000 $17,100 $84,900
2020 $2,808 $83,700 $15,500 $68,200
2019 $2,462 $83,700 $15,500 $68,200
2018 $2,618 $69,500 $15,500 $54,000
2017 $2,468 $69,500 $15,500 $54,000
2016 $2,574 $63,000 $12,900 $50,100
2015 $2,574 $63,000 $12,900 $50,100
2014 $2,504 $56,000 $12,900 $43,100
Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2013

    Steven Wolvers

    RE/MAX

See All Agents

Map

Source: Des Moines Area Association of REALTORS®

MLS Number: 417659

Des Moines Area Association of REALTORS®

APN: 050-04413000000

Iowa Polk County Des Moines 50317 Fairground

2220 E Walnut St, Des Moines, IA

This home is located at 2220 E Walnut St, Des Moines, IA 50317 since 10 May 2013 and is currently estimated at $137,000, approximately $87 per square foot. This property was built in 1890. 2220 E Walnut St is a home located in Polk County with nearby schools including Capitol View Elementary School, Hiatt Middle School, and East 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.

Des Moines Area Association of REALTORS® 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.

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