Seller's Agent in 2024
James Bausch
RE/MAX
(574) 551-6051
337 Total Sales
422 S Union St Warsaw, IN 46580
Estimated Value: $229,000 - $1,122,192
19
Beds
14
Baths
9,383
Sq Ft
$69/Sq Ft
Est. Value
Highlights
- Forced Air Heating System
- Edgewood Middle School Rated A
- Baseboard Heating
About This Home
As of August 2024Investors seize this unique opportunity with this package deal comprising of three income-producing properties in the heart of Warsaw at 422 S Union St, 418 S Union St, and 322 S Columbia St. Each property has undergone a significant amount of refreshing, updating and remodeling, bringing increased revenue, decreased costs, and stable tenancy. With every completed unit being occupied this portfolio promises immediate cash flow and strong returns. Totaling 14-units, these three properties are being offered at the attractive price of $960,000, boasting an impressive 12.55% CAP rate and remarkable returns exceeding 20.6% cash on cash even after accounting for vacancy, property management, and CapEx expenses, assuming traditional financing. Don't miss out on this rare opportunity to own a diversified portfolio of income-generating properties. Act now and elevate your investment strategy with this exceptional package deal.
Last Agent to Sell the Property
RE/MAX Results- Warsaw Brokerage Phone: 574-742-4531 Listed on: 02/19/2024
Last Buyer's Agent
RE/MAX Results- Warsaw Brokerage Phone: 574-742-4531 Listed on: 02/19/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,569
Year Built
- Built in 1875
Lot Details
- 0.93 Acre Lot
Home Design
- Brick Exterior Construction
- Vinyl Construction Material
Interior Spaces
- 2-Story Property
- Laminate Flooring
Bedrooms and Bathrooms
- 19 Bedrooms
- 14 Full Bathrooms
Partially Finished Basement
- Block Basement Construction
- Crawl Space
Parking
- 25 Parking Spaces
- Off-Street Parking
Schools
- Washington Elementary School
- Edgewood Middle School
- Warsaw High School
Utilities
- Forced Air Heating System
- Baseboard Heating
- Heating System Uses Gas
Listing and Financial Details
- Tenant pays for electric
- The owner pays for electric, heating, sewer, trash collection, water softener
- Assessor Parcel Number 43-11-07-200-762.000-032
Community Details
Overview
- 4 Buildings
- 14 Units
- Graves Subdivision
Pet Policy
- Pet Restriction
Building Details
- 12 Separate Electric Meters
- 8 Separate Gas Meters
- 3 Separate Water Meters
- Electric Expense $6,459
- Fuel Expense $4,951
- Insurance Expense $10,229
- Trash Expense $2,844
- Water Sewer Expense $8,831
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Feb 19, 2024
Closed on
Aug 14, 2024
Sold by
Sky Team Properties Llc
Bought by
Greenbush 64 Llc
Seller's Agent
James Bausch
RE/MAX Results- Warsaw
Buyer's Agent
James Bausch
RE/MAX Results- Warsaw
List Price
$960,000
Sold Price
$1,150,000
Premium/Discount to List
$190,000
19.79%
Views
54
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$504,952
Avg. Annual Appreciation
-41.45%
Original Mortgage
$1,995,000
Outstanding Balance
$171,535
Interest Rate
6.89%
Mortgage Type
Construction
Estimated Equity
$473,513
Purchase Details
Closed on
Dec 8, 2020
Sold by
Fss Lift Inc
Bought by
Sky Team 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
$489,600
Interest Rate
2.8%
Mortgage Type
New Conventional
Purchase Details
Closed on
Sep 22, 2020
Sold by
Fussle Realty Llc
Bought by
Fss Lift Inc
Purchase Details
Closed on
Oct 2, 2018
Sold by
Fussle Daniel T
Bought by
Fussle Realty Llc
Purchase Details
Closed on
Dec 4, 2000
Sold by
Engel Donald E and Engel Linda D
Bought by
Dalrymple Loren
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Greenbush 64 Llc | $665,634 | Fidelity National Title | |
| Sky Team Properties Llc | -- | None Available | |
| Fss Lift Inc | -- | None Available | |
| Fussle Realty Llc | -- | None Available | |
| Fussle Daniel T | -- | None Available | |
| Hawkins Eric | -- | None Available | |
| Dalrymple Loren | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Greenbush 64 Llc | $1,995,000 | |
| Previous Owner | Sky Team Properties Llc | $489,600 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/23/2024 08/23/24 | Price Changed | $1,145,000 | -0.4% | $122 / Sq Ft |
| 08/22/2024 08/22/24 | Sold | $1,150,000 | +19.8% | $123 / Sq Ft |
| 08/12/2024 08/12/24 | Pending | -- | -- | -- |
| 02/19/2024 02/19/24 | For Sale | $960,000 | -- | $102 / Sq Ft |
Source: Indiana Regional MLS
Tax History Compared to Growth
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 | $4,424 | $214,100 | $43,500 | $170,600 |
| 2023 | $3,799 | $182,900 | $29,600 | $153,300 |
| 2022 | $3,418 | $164,400 | $24,700 | $139,700 |
| 2021 | $2,887 | $138,100 | $22,800 | $115,300 |
| 2020 | $2,293 | $109,600 | $17,400 | $92,200 |
| 2019 | $2,112 | $100,800 | $17,400 | $83,400 |
| 2018 | $2,026 | $96,500 | $17,400 | $79,100 |
| 2017 | $1,970 | $93,600 | $17,400 | $76,200 |
| 2016 | $1,816 | $86,200 | $14,000 | $72,200 |
| 2014 | $1,632 | $81,600 | $14,000 | $67,600 |
| 2013 | $1,632 | $79,600 | $13,400 | $66,200 |
Source: Public Records
Agents Affiliated with this Home
-
James Bausch
Map
Source: Indiana Regional MLS
MLS Number: 202405089
APN: 43-11-07-200-762.000-032
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