NOT LISTED FOR SALE

402 Ronalds St Unit Main & Upper Iowa City, IA 52245

Goosetown Neighborhood

Estimated Value: $319,000 - $434,000

5 Beds
2 Baths
1,110 Sq Ft
$348/Sq Ft Est. Value

Last Sold January 05, 2024

Last sale price $350,000 $315 Per Sq Ft

Est. 10% increase in value since last sale

Current estimated payment $2,561/month

28 Days on Market

About This Home

As of January 2024

A hard-to-find duplex on the north side of downtown. This home has a 2 bed/1 bath on the main floor and a 3 bed/1 bath on the upper floor. Perfect for someone who wants to live in one unit and generate rental income from the other unit, see the attached Proforma. Within walking distance of downtown and the University of Iowa. Close to the restaurants, coffee shops, and shopping on Linn St. The rent rates are below market and have room to be increased.

Last Agent to Sell the Property

Mark Lynch

Skogman Realty Co. Listed on: 12/08/2023

Skogman Realty Co.

Last Buyer's Agent

Mark Lynch

Skogman Realty Co. Listed on: 12/08/2023

Skogman Realty Co.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,456

Year Built

  • Built in 1910

Lot Details

  • 8,015

Home Design

  • Frame Construction

Interior Spaces

  • 1,110 Sq Ft Home
  • Living Room
  • Oven or Range
  • Unfinished Basement

Schools

  • Mann Elementary School
  • Southeast Middle School

Utilities

  • Heating System Uses Gas
  • Internet Available

Listing and Financial Details

  • Assessor Parcel Number 1010133011

Community Details

Overview

  • 2 Units
  • Original Town Subdivision

Building Details

  • Maintenance Expense $2,000
  • Gross Income $31,080

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,456

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Property Type: MULTI-FAMILY
  • Type: Multi-Family
  • Photo Code: Broker Loaded
  • Remarks: A hard-to-find duplex on the north side of downtown. This home has a 2 bed/1 bath on the main floor and a 3 bed/1 bath on the upper floor. Perfect for someone who wants to live in one unit and generate rental income from the other unit, see the attached Proforma. Within walking distance of downtown and the University of Iowa. Close to the restaurants, coffee shops, and shopping on Linn St. The rent rates are below market and have room to be increased.
  • Year Built: 1910
  • Subdivision: Original Town
  • Rental Permit: Yes
  • Directions: Home is on the NE corner of Ronalds St and N Gilbert St.
  • Aging In Place Form: No
  • L O1 Dues Paid: y
  • S O1 Dues Paid: y
  • Amenities: Sidewalks, Street Lights
  • Basement Remarks: Unfinished
  • Possession R: Negotiable
  • Possible Finance R: Cash, Conventional
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Range/Oven, Refrigerator
  • Sq Ft Above: 1110
  • Lower Level Sq Ft: 1307

Exterior Features

  • Construction: Frame

Garage/Parking

  • Parking Spaces: None

Utilities

  • Internet: Yes
  • Water Sewer: City Sewer, City Water
  • Heating Cooling: Gas

Condo/Co-op/Association

  • Fees Include: None

Schools

  • High School: City
  • Jr Middle School: Southeast
  • Elementary School: Mann

Lot Info

  • Geo Subdivision: IA
  • Lot Dimensions: .18
  • Zoning: RS8

Tax Info

  • Assessor Parcel Number: 1010133011

Multi Family

  • Units Total: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 8, 2023
Closed on
Jan 5, 2024
Sold by
M & W Properties Inc
Bought by
Northside Homes Llc
Seller's Agent
Mark Lynch
Skogman Realty Co.
Buyer's Agent
Mark Lynch
Skogman Realty Co.
List Price
$375,000
Sold Price
$350,000
Premium/Discount to List
-$25,000
-6.67%
Views
64
Current Estimated Value
$386,464

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$36,464
Avg. Annual Appreciation
5.63%

Purchase Details

Closed on
Aug 7, 2006
Sold by
Buxton James B and Buxton Becky J
Bought by
M & W Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$240,000
Interest Rate
6.85%
Mortgage Type
FHA
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
Northside Homes Llc $350,000 None Listed On Document
Northside Homes Llc $350,000 None Listed On Document
M & W Properties Llc $240,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner M & W Properties Llc $240,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/05/2024 01/05/24 Sold $350,000 -6.7% $315 / Sq Ft
12/08/2023 12/08/23 For Sale $375,000 -- $338 / Sq Ft
Source: Iowa City 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
2025 $6,456 $358,480 $90,610 $267,870
2024 $6,376 $338,940 $86,190 $252,750
2023 $6,064 $338,940 $86,190 $252,750
2022 $5,794 $279,820 $81,770 $198,050
2021 $5,938 $279,820 $81,770 $198,050
2020 $5,938 $274,640 $79,560 $195,080
2019 $5,588 $274,640 $79,560 $195,080
2018 $5,588 $254,360 $75,140 $179,220
2017 $5,560 $254,360 $75,140 $179,220
2016 $5,446 $252,970 $75,140 $177,830
2015 $5,446 $252,640 $75,140 $177,500
2014 $5,208 $240,790 $66,300 $174,490
Source: Public Records

Agents Affiliated with this Home

  • Mark Lynch

    Seller's Agent in 2024

    Mark Lynch

    Skogman Realty Co.

    (319) 331-0409

    2 in this area

    74 Total Sales

    Mark Lynch
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Map

Source: Iowa City Area Association of REALTORS®

MLS Number: 202306252

Iowa City Area Association of REALTORS®

APN: 1010133011

Iowa Johnson County Iowa City 52245 Goosetown

402 Ronalds St Unit Main & Upper, Iowa City, IA

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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