NOT LISTED FOR SALE

47373 State Road 28 Redkey, IN 47373

Estimated Value: $226,000 - $659,539

4 Beds
2 Baths
-- Sq Ft
5.87 Acres

Last Sold August 06, 2024

Last sale price $645,000

Est. 31% decrease in value since last sale

Current estimated payment $2,915/month

39 Days on Market

About This Home

As of August 2024

Whether you're a seasoned investor looking to diversify your portfolio or an entrepreneur seeking a rewarding business opportunity, this rural mobile home park offers great investment potential. There is also a rental home located at the back of the property. This mobile home park combines the charm of rural living with the convenience of nearby amenities. Situated on 5.87 acres near the Mississinewa River, this property offers a unique investment opportunity priced at $695,000.

Last Agent to Sell the Property

Paul Faddis

Tarter Realty Auction and Appraisal Company Listed on: 04/22/2024

Last Buyer's Agent

Diana Martin

NonMember MEIAR

NonMember MEIAR

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,553

Year Built

  • Built in 2010

Lot Details

  • 5.87 Acre Lot
  • Rural Setting

Home Design

  • Metal Roof

Basement

  • Crawl Space

Parking

  • 33 Parking Spaces
  • Private Parking
  • Off-Street Parking

Schools

  • Monroe Central Elementary And Middle School
  • Monroe Central High School

Utilities

  • Multiple Heating Units
  • Private Company Owned Well
  • Well
  • Septic System

Community Details

  • 33 Units

Listing and Financial Details

  • Tenant pays for electric, sewer
  • The owner pays for sewer, tax
  • Assessor Parcel Number 68-06-04-300-095.000-003

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,553

Year Built

Built in 2010

Lot Details

0

Listing Details

  • Class: INVESTMENT
  • Year Built: 2010
  • Age: 14
  • Legal Description: 50' W End Lot No 6 Sw 4-21-12 .87 A Sw 4-21-12 5 A
  • Parcel Number ID: 68-06-04-300-095.000-003
  • Platted: Yes
  • Amenities: Off Street Parking
  • Location: Rural
  • Sp Lp Percent: 92.81
  • Monthly Gross Income: 14125
  • Year Taxes Payable: 2024
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Basement Foundation: Crawl

Exterior Features

  • Exterior: Aluminum
  • Roof Material: Metal

Garage/Parking

  • Number Of Parking Spaces: 33
  • Parking: Private

Utilities

  • Heating Fuel: Multiple Heating Systems
  • Sewer: Septic
  • Water Utilities: Well
  • Well Type: Private

Schools

  • School District: Monroe Central School Corp.
  • Elementary School: Monroe Central
  • Middle School: Monroe Central
  • High School: Monroe Central
  • Elementary School: Monroe Central

Lot Info

  • Lot Description: 3-5.9999
  • Lot Dimensions: x
  • Estimated Lot Sq Ft: 255697
  • Estimated Lot Size Acres: 5.87

Rental Info

  • Owner Pays: Sewer, Tax
  • Tenant Pays: Electric, Sewer

Multi Family

  • Gross Monthly Rent: 14125
  • Number Of Units: 33

Tax Info

  • Annual Property Tax: 6553.02

MLS Schools

  • High School: Monroe Central
  • Middle School: Monroe Central
  • School District: Monroe Central School Corp.

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 22, 2024
Closed on
Aug 6, 2024
Sold by
Shaffer T & C Inc
Bought by
Riverside Mhp Llc
Seller's Agent
Paul Faddis
Tarter Realty Auction and Appraisal Company
Buyer's Agent
Diana Martin
NonMember MEIAR
List Price
$695,000
Sold Price
$645,000
Premium/Discount to List
-$50,000
-7.19%
Views
10
Current Estimated Value
$442,770

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$202,230
Avg. Annual Appreciation
-28.11%
Original Mortgage
$612,750
Outstanding Balance
$605,803
Interest Rate
6.86%
Mortgage Type
Credit Line Revolving
Estimated Equity
-$163,033

Purchase Details

Closed on
Oct 22, 2012
Sold by
Rose Property Management Llc
Bought by
Shaffer T & C Inc

Purchase Details

Closed on
Jul 3, 2012
Sold by
First United Financial L P
Bought by
Rose Property Management Llc

Purchase Details

Closed on
May 1, 2011
Sold by
First National Bank Of America
Bought by
First United Financial L P

Purchase Details

Closed on
Oct 26, 2009
Sold by
Logan John A and Logan Shirley S
Bought by
First National Bank Of America
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 Buyer Sale Price Title Company
Riverside Mhp Llc -- None Listed On Document
Shaffer T & C Inc $34,000 None Available
Rose Property Management Llc -- None Available
First United Financial L P -- None Available
First National Bank Of America -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Riverside Mhp Llc $612,750
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/06/2024 08/06/24 Sold $645,000 -7.2% --
05/31/2024 05/31/24 Pending -- -- --
04/22/2024 04/22/24 For Sale $695,000 -- --
Source: Indiana Regional MLS

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 $6,927 $391,800 $23,900 $367,900
2023 $6,553 $395,800 $23,900 $371,900
2022 $7,678 $407,100 $23,900 $383,200
2021 $7,660 $389,300 $23,900 $365,400
2020 $7,817 $395,800 $23,900 $371,900
2019 $5,309 $300,100 $23,900 $276,200
2018 $5,382 $299,700 $23,900 $275,800
2017 $3,807 $230,400 $23,900 $206,500
2016 $2,819 $170,700 $23,900 $146,800
2014 $1,442 $89,900 $23,900 $66,000
2013 $1,442 $89,700 $23,900 $65,800
Source: Public Records

Agents Affiliated with this Home

  • Paul Faddis

    Seller's Agent in 2024

    Paul Faddis

    Tarter Realty Auction and Appraisal Company

    (765) 994-8533

    367 Total Sales

    Paul Faddis
    Section Image
  • Diana Martin

    Buyer's Agent in 2024

    Diana Martin

    NonMember MEIAR

    (765) 747-7197

    3,793 Total Sales

    Diana Martin
    Section Image
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Map

Source: Indiana Regional MLS

MLS Number: 202413531

Indiana Regional MLS

APN: 68-06-04-300-095.000-003

Indiana Randolph County Redkey 47373

47373 State Road 28, Redkey, IN

This home is located at 47373 State Road 28, Redkey, IN 47373 since 22 April 2024 and is currently estimated at $442,770. This property was built in 2010. 47373 State Road 28 is a home located in Randolph County with nearby schools including Monroe Central Elementary School and Monroe Central Jr-Sr 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.

Indiana Regional MLS 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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