NOT LISTED FOR SALE

2427 Petsel Place Iowa City, IA 52246

12 Beds
8 Baths
844 Sq Ft
1981 Built

Last Sold April 19, 2021

Last sale price $538,000 $637 Per Sq Ft

12 Days on Market

Highlights

  • Living Room
  • Property is near schools
  • Forced Air Heating and Cooling System
  • Norman Borlaug Elementary School Rated A-

About This Home

As of April 2021

3 br / 1.5 ba fourplex on Petsel Place for sale at a 6.5 Cap Rate. Annual income is $63,466, expenses are $25,942 leaving an NOI of $37,524. The current owner is flexible in his leasing terms & used a tenant matching service that helps fill in vacant bedrooms when necessary. The building is well maintained with new HVAC in 2019, new roof in 2018 and all units remodeled from original condition. Utilities are paid by tenants in units 1 & 3, units 2 & 4 pay any utilities over $160 per month.

Last Agent to Sell the Property

Jeff Edberg

Lepic-Kroeger, REALTORS Listed on: 02/25/2021

Lepic-Kroeger, REALTORS

Last Buyer's Agent

LEE HUEDEPOHL

Keller Williams Legacy Group

Keller Williams Legacy Group

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1981

Parking

  • Off-Street Parking

Home Design

  • Quadruplex
  • Brick Frame

Interior Spaces

  • 844 Sq Ft Home
  • Multi-Level Property
  • Living Room
  • Fire and Smoke Detector
  • Washer and Dryer Hookup

Kitchen

  • Oven or Range
  • Dishwasher

Basement

  • Basement Fills Entire Space Under The House
  • Bedroom in Basement

Location

  • Property is near schools
  • Property is near shops

Schools

  • Borlaug Elementary School
  • Northwest Middle School
  • West High School

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Gas
  • Separate Meters
  • Underground Utilities
  • Individual Gas Meter
  • Separate Water Meter
  • Gas Water Heater
  • Internet Available

Listing and Financial Details

  • Assessor Parcel Number 1017233005

Community Details

Overview

  • 4 Units
  • Hawkeye Heights Subdivision

Building Details

  • Insurance Expense $3,360
  • Maintenance Expense $2,400
  • Gross Income $63,466

Property Details

Home Type

Multi-Family

Year Built

Built in 1981

Lot Details

0

Listing Details

  • Property Type: MULTI-FAMILY
  • Type: Multi-Family
  • Photo Code: Broker Loaded
  • Photo Code1: Broker Loaded
  • Possible Finance: Cash, Conventional
  • T Val: 538000
  • Year Built: 1981
  • Tax Year Report: 2019
  • Subdivision: Hawkeye Heights
  • Rental Permit: Yes
  • Type Multi Family: Multilevel, Fourplex
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Sq Ft Above: 844
  • Basement: Finished Rooms, Full
  • Laundry: Hookups In Unit
  • Lower Level Sq Ft: 422

Exterior Features

  • Construction: Brick Frame

Garage/Parking

  • Parking: Off Street

Utilities

  • Cooling: Central
  • Heating: Gas, Forced Air
  • Internet: Yes
  • Water Sewer: City Water
  • Utilities Available: Cable Paid by Ind., Electricity Ind. Meters, Garbage in Rent, Gas Ind. Meters, Water Ind. Meters

Condo/Co-op/Association

  • Amenities: Sidewalks, Underground, Close to School, Close to Shopping

Schools

  • Elementary School: Borlaug
  • Middle School: Northwest
  • High School: West
  • High School: West
  • Jr Middle School: Northwest
  • Elementary School: Borlaug

Green Features

  • Energy Related: Water Heater-Gas

Lot Info

  • Geo Subdivision: IA
  • Lot Dimensions: Irregular
  • Zoning: RM12

Tax Info

  • Gross Tax County City: 11471.66
  • Assessor Parcel Number: 1017233005

Multi Family

  • Units Total: 4

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/19/2021 04/19/21 Sold $538,000 -6.4% $637 / Sq Ft
02/25/2021 02/25/21 For Sale $575,000 -- $681 / Sq Ft
Source: Iowa City Area Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jeff Edberg

    Seller's Agent in 2021

    Jeff Edberg

    Lepic-Kroeger, REALTORS

    (319) 331-6187

    167 Total Sales

    Jeff Edberg
    Section Image
  • LEE HUEDEPOHL

    Buyer's Agent in 2021

    LEE HUEDEPOHL

    Keller Williams Legacy Group

    (319) 325-7222

    60 Total Sales

    LEE HUEDEPOHL
    Section Image
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Map

Source: Iowa City Area Association of REALTORS®

MLS Number: 202101189

Iowa City Area Association of REALTORS®
Iowa Johnson County Iowa City 52246

2427 Petsel Place, Iowa City, IA

This home is located at 2427 Petsel Place, Iowa City, IA 52246 since 25 February 2021. This property was built in 1981. 2427 Petsel Place is a home located in Johnson County with nearby schools including Norman Borlaug Elementary School, Northwest Junior High School, and West 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.

Iowa City Area Association of REALTORS® IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Listing information is deemed reliable, but not guaranteed accurate by the MLS.

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