NOT LISTED FOR SALE

404 N Merchant St Effingham, IL 62401

Estimated Value: $132,000 - $338,000

2 Beds
2 Baths
882 Sq Ft
$216/Sq Ft Est. Value

Last Sold June 25, 2014

Last sale price $80,000 $91 Per Sq Ft

Est. 138% increase in value since last sale

Current estimated payment $1,232/month

22 Days on Market

About This Home

As of June 2014

Great Investment Opportunity! Landlord currently takes $25/mo. off of $450.00 rent rate for tenant to mow lawn. Both units have been 100% occupied and maintenance has been minimal but 5% for each is being used to get net income. Rent on 2nd unit could be raised to $450 also. Current taxes are $2,592 but owner is protesting; therefore using the rate for 2015.**Stove and Refrigerator each side; Washer & Dryer on South Side only; ***Net income based on 5% vacany and 5% maintenance

Last Agent to Sell the Property

Jeff Speer

RE/MAX Key Advantage License #471000363 Listed on: 05/03/2014

RE/MAX Key Advantage

Last Buyer's Agent

Janet Bullard

C21 Realty Concepts License #475139555

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,924

Lot Details

  • 4,796 Sq Ft Lot

Home Design

  • Duplex
  • Shingle Roof

Interior Spaces

  • 882 Sq Ft Home
  • 1-Story Property
  • Crawl Space

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Full Bathrooms

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Gas
  • Electric Water Heater

Community Details

  • 2 Units
  • Operating Expense $4,324

Listing and Financial Details

  • Assessor Parcel Number 0316018008

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,924

Lot Details

0

Listing Details

  • Directions: From Rt. 45 - West on Temple - South on Merchant
  • Lot Size Acres: 0.11
  • Property Sub Type: Duplex
  • Prop. Type: Residential Income
  • Road Surface Type: Concrete
  • Building Stories: 1
  • Structure Type: Duplex
  • Architectural Style: Duplex
  • Carport Y N: No
  • Garage Yn: No
  • Unit Levels: One
  • Property Sub Type Additional: Duplex
  • Special Features: None
  • Stories: 1

Interior Features

  • Appliances: Electric Water Heater
  • Has Basement: Crawl Space
  • Basement YN: No
  • Full Bathrooms: 2
  • Total Bedrooms: 2
  • Stories: 1

Exterior Features

  • Roof: Shingle
  • Waterfront: No
  • Foundation Details: Crawlspace

Utilities

  • Cooling: Central Air
  • Heating: Forced Air, Gas
  • Water Source: Public
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Sewer: Public Sewer

Schools

  • Junior High Dist: Effingham Dist. 40

Lot Info

  • Lot Size Sq Ft: 4796.0
  • Parcel #: 0316018008
  • Zoning: R-3

Multi Family

  • Number Of Units Total: 2
  • Annual Operating Expense: 4324.0

Tax Info

  • Tax Year: 2012
  • Tax Annual Amount: 1924.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 3, 2014
Closed on
Jun 25, 2014
Sold by
Esker Brad B
Bought by
Getz Paul and Getz Sue
Seller's Agent
Jeff Speer
RE/MAX Key Advantage
Buyer's Agent
Janet Bullard
C21 Realty Concepts
List Price
$84,900
Sold Price
$80,000
Premium/Discount to List
-$4,900
-5.77%
Current Estimated Value
$190,672

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$110,672
Avg. Annual Appreciation
7.87%

Purchase Details

Closed on
Mar 16, 2011
Sold by
Ruble Ruble David L David L
Bought by
Esker Brad B

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$56,025
Interest Rate
5%
Mortgage Type
Unknown
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Getz Paul -- None Available
Esker Brad B -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Esker Brad B $56,025
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/25/2014 06/25/14 Sold $80,000 -5.8% $91 / Sq Ft
05/28/2014 05/28/14 Pending -- -- --
05/05/2014 05/05/14 For Sale $84,900 -- $96 / Sq Ft
Source: Central Illinois Board 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 $2,748 $40,680 $5,090 $35,590
2023 $2,518 $36,980 $4,630 $32,350
2022 $2,364 $33,930 $4,250 $29,680
2021 $2,437 $33,600 $4,210 $29,390
2020 $2,393 $32,650 $4,090 $28,560
2019 $2,348 $32,330 $4,050 $28,280
2018 $2,271 $31,080 $3,890 $27,190
2017 $2,232 $30,470 $3,810 $26,660
2016 $2,185 $29,580 $3,700 $25,880
2015 -- $28,720 $3,590 $25,130
2014 -- $27,890 $3,490 $24,400
2013 -- $27,340 $3,420 $23,920
2012 -- $35,930 $3,370 $32,560
Source: Public Records

Agents Affiliated with this Home

  • Jeff Speer

    Seller's Agent in 2014

    Jeff Speer

    RE/MAX

    (217) 347-0404

    96 in this area

    170 Total Sales

    Jeff Speer
    Section Image
  • Janet Bullard

    Buyer's Agent in 2014

    Janet Bullard

    C21 Realty Concepts

    (217) 342-6080

    10 in this area

    29 Total Sales

    Janet Bullard
    Section Image
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Map

Source: Central Illinois Board of REALTORS®

MLS Number: 6132654

APN: 0316018008

Illinois Effingham County Effingham 62401

404 N Merchant St, Effingham, IL

Not Listed for Sale

MultiFamily

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