$165,000
SOLD JUL 31, 2023

Montezuma, IA 50171

-- Bed
3 Baths
2,490 Sq Ft
8,712 Sq Ft Lot

Recently Sold

$66 Per Sq Ft

7% Below List Price

35 Days on Market

Highlights

  • 3 Kitchens
  • No HOA
  • Forced Air Heating and Cooling System

About This Home

As of July 2023

Looking for an investment property that cash flows almost immediately? Look no further. Located just a block from the Montezuma square this triplex is fully occupied. Monthly rent is currently $2,275 (Main level - 1 BR $750, 1 BR $675, Upper level - 2 BR $850). Two of the three units pay for their own utilities. The owner pays for mowing and utilities for one unit. Two units recently updated within last 12 months. Each unit has a full bath, kitchen with owner-owned appliances, its own electric meter, HVAC system and laundry hookups. The building is well maintained with vinyl siding, metal roof, most of the windows have been replaced, circuit breaker panels, and HVAC systems. Profit/Loss provided upon request.

Last Agent to Sell the Property

Andy Erselius

AE Realty, Inc Listed on: 05/12/2023

Last Buyer's Agent

Andy Erselius

AE Realty, Inc Listed on: 05/12/2023

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,738

Year Built

  • Built in 1900

Lot Details

  • 8,712 Sq Ft Lot
  • Lot Dimensions are 66x132

Home Design

  • Block Foundation
  • Metal Roof
  • Vinyl Siding

Interior Spaces

  • 2,490 Sq Ft Home
  • 2-Story Property

Kitchen

  • 3 Kitchens
  • Stove

Parking

  • 1 Car Attached Garage
  • Driveway

Utilities

  • Forced Air Heating and Cooling System

Listing and Financial Details

  • Assessor Parcel Number 4501442300

Community Details

Overview

  • No Home Owners Association
  • 3 Units

Building Details

  • Gross Income $27,300

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,738

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Style: Two Story
  • Lp Amt Sq Ft: 71.04
  • Sp Amt Sq Ft: 66.27
  • Year Built: 1900
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Refrigerators: 3
  • Stoves Total: 3
  • Total Bathrooms: 3.00
  • Full Bathrooms: 3
  • First Floor Full Bathrooms: 2
  • Second Floor Full Bathrooms: 1
  • Sq Ft Bsmt: 1442
  • Kitchens: 3
  • Included Items: Refrigerator, Stove
  • Living Area Sq Ft: 2490
  • Total Sq Ft: 2490

Exterior Features

  • Exterior: Vinyl Siding
  • Foundation: Block
  • Roof: Metal
  • Street Feature: Concrete

Garage/Parking

  • Driveway: Concrete
  • Garage: 1 Attached

Utilities

  • Sewer: City
  • Water: City
  • Air Conditioner: Central
  • Heat: Gas Forced Air
  • Separate Meters: Y

Condo/Co-op/Association

  • Association Fee: No

Schools

  • School District: Montezuma

Lot Info

  • Acres: 0.2000
  • Lot S F: 8712
  • Lot Size: 66x132
  • Assessor Parcel Number: 4501442300
  • Zoning: resid

Rental Info

  • Deposit: Yes
  • Landlord Tenant Utilities: Building Insurance Owner, Electric Tenant, Gas Tenant, Taxes Owner, Water Tenant

Tax Info

  • Gross Taxes: 1738.00
  • Net Taxes: 1738.00
  • Tax Year: 2021

Multi Family

  • Total Units: 3

MLS Schools

  • School District: Montezuma

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 12, 2023
Closed on
Jul 31, 2023
Sold by
Fahlenkamp Michael D and Fahlenkamp Vicki J
Bought by
Wenke Zachary L S and Wenke Ashley N
Seller's Agent
Andy Erselius
AE Realty, Inc
Buyer's Agent
Andy Erselius
AE Realty, Inc
List Price
$176,900
Sold Price
$165,000
Premium/Discount to List
-$11,900
-6.73%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.08%
Original Mortgage
$165,970
Outstanding Balance
$162,596
Interest Rate
6.69%
Mortgage Type
Credit Line Revolving
Estimated Equity
$33,379
Source: Public Records

Range of Values:

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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 Type Sale Price Title Company
Warranty Deed $165,000 None Listed On Document
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $165,970 Credit Line Revolving
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/14/2025 07/14/25 Price Changed $199,000 -2.9% $71 / Sq Ft
05/29/2025 05/29/25 For Sale $205,000 +24.2% $73 / Sq Ft
07/31/2023 07/31/23 Sold $165,000 -6.7% $66 / Sq Ft
06/16/2023 06/16/23 Pending -- -- --
05/12/2023 05/12/23 For Sale $176,900 -- $71 / 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 $1,724 $111,290 $12,670 $98,620
2023 $1,510 $111,290 $12,670 $98,620
2022 $1,738 $80,660 $20,390 $60,270
2021 $1,738 $80,660 $20,390 $60,270
2020 $1,680 $68,660 $18,530 $50,130
2019 $1,584 $68,660 $18,530 $50,130
2018 $1,682 $61,790 $17,110 $44,680
2017 $1,656 $61,790 $17,110 $44,680
2016 $1,830 $61,790 $17,110 $44,680
2015 -- $61,790 $17,110 $44,680
2014 -- $60,830 $10,260 $50,570
Source: Public Records

Agents Affiliated with this Home

  • A

    Seller's Agent in 2025

    Andy Erselius

    AE Realty, Inc

See All Agents

Source: Des Moines Area Association of REALTORS®

MLS Number: 673136

Des Moines Area Association of REALTORS®

APN: 450-1442300

Iowa Poweshiek County Montezuma

50171

This home and is currently priced at $165,000, approximately $66 per square foot. This property was built in 1900. This home is a home located in Poweshiek County with nearby schools including Montezuma Elementary School and Montezuma Junior 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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