NOT LISTED FOR SALE

501 Eric Ave Vincennes, IN 47591

Estimated Value: $117,000 - $770,831

24 Beds
24 Baths
11,784 Sq Ft
$36/Sq Ft Est. Value

Last Sold June 15, 2022

Last sale price $650,000 $55 Per Sq Ft

Est. 34% decrease in value since last sale

Current estimated payment $2,366/month

3 Days on Market

Highlights

  • Forced Air Heating and Cooling System
  • Level Lot
  • Carpet

About This Home

As of June 2022

Multi Family – Brockwood Town Houses. 12 Units – 24 beds --24 Baths located in the College Town of Vincennes Indiana. Each of the 12 Units are 2 bed, 2 bath and offer a nice sized living room, kitchen, and Laundry Room. Property is 100% occupied at time of listing. These Town Houses are predominately brick on the exterior with a newer metal roof for your peace of mind. Tenants pay all utilities except Security Lights and Dumpster. Attractively Priced at $669,000.

Last Agent to Sell the Property

Delmar Wagler

Integrity Realty Group LLC Listed on: 04/12/2022

Last Buyer's Agent

Delmar Wagler

Integrity Realty Group LLC Listed on: 04/12/2022

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $10,338

Year Built

  • Built in 1983

Lot Details

  • 0.41 Acre Lot
  • Level Lot

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Metal Siding
  • Vinyl Construction Material

Interior Spaces

  • 11,784 Sq Ft Home
  • 2-Story Property

Flooring

  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 24 Bedrooms
  • 24 Full Bathrooms

Parking

  • 20 Parking Spaces
  • Off-Street Parking

Schools

  • Vigo Elementary School
  • Clark Middle School
  • Lincoln High School

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for cable, cooling, electric, heating, sewer, water
  • The owner pays for building insurance, lawn maintenance, snow removal, tax, trash collection
  • Assessor Parcel Number 42-12-28-210-009.000-022

Community Details

Overview

  • 12 Units

Building Details

  • Electric Expense $900
  • Insurance Expense $5,256
  • Maintenance Expense $6,000
  • Trash Expense $1,416

Property Details

Home Type

Apartment

Est. Annual Taxes

$10,338

Year Built

Built in 1983

Lot Details

0

Listing Details

  • Class: INVESTMENT
  • Property Sub Type: Apartment Building
  • Year Built: 1983
  • Age: 39
  • Style: Two Story
  • Bedrooms: 24
  • Number Above Grade Bedrooms: 24
  • Total Bathrooms: 24
  • Total Full Bathrooms: 24
  • Legal Description: Brockwood Townhouse Condominium Devel I Unit 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12
  • Parcel Number ID: 42-12-28-210-009.000-022
  • Platted: Yes
  • Amenities: Off Street Parking
  • Parcel Id2: 42-12-28-210-010.000-022
  • Sp Lp Percent: 97.16
  • Annual Miscellaneous: 2000
  • Monthly Gross Income: 7600
  • Year Taxes Payable: 2020
  • Special Features: None

Interior Features

  • Total Sq Ft: 11784
  • Total Finished Sq Ft: 11784
  • Above Grade Finished Sq Ft: 11784
  • Price Per Sq Ft: 55.16
  • Basement Foundation: Slab
  • Flooring: Carpet, Laminate

Exterior Features

  • Exterior: Brick, Metal, Vinyl
  • Stories: 2

Garage/Parking

  • Number Of Parking Spaces: 20

Utilities

  • Cooling: Central Air
  • Heating Fuel: Gas, Forced Air
  • Sewer: City
  • Water Utilities: City
  • Annual Electric: 900
  • Annual Insurance Expense: 5256
  • Annual Maintenance Expense: 6000
  • Annual Trash Expense: 1416
  • Number Of W D Hookups: 12

Schools

  • School District: Vincennes Community School Corp.
  • Elementary School: Vigo
  • Middle School: Clark
  • High School: Lincoln
  • Elementary School: Vigo

Lot Info

  • Lot Description: Level
  • Lot Dimensions: 0.408 acre
  • Estimated Lot Sq Ft: 17772
  • Estimated Lot Size Acres: 0.408

Rental Info

  • Lease Term: Negotiable
  • Owner Pays: Building Insurance, Lawn Maintenance, Snow Removal, Tax, Trash Collection
  • Tenant Pays: Cable, Cooling, Electric, Heating, Sewer, Water

Multi Family

  • Gross Monthly Rent: 7600
  • Number Of Units: 12
  • Num Of2 Bedrooms: 12
  • Num Of Units Rented: 12

Tax Info

  • Annual Property Tax: 10338

MLS Schools

  • High School: Lincoln
  • Middle School: Clark
  • School District: Vincennes Community School Corp.

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 6, 2018
Sold by
Equity Point Fund 1 Series Llc
Bought by
Dr Myers Offering 1 Llc
Current Estimated Value
$427,708
Source: Public Records

Range of Values:

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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
Dr Myers Offering 1 Llc $525,100 First American Title Insurance
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/15/2022 06/15/22 Sold $650,000 -2.8% $55 / Sq Ft
04/15/2022 04/15/22 Pending -- -- --
04/12/2022 04/12/22 For Sale $669,000 -- $57 / Sq Ft
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 $1,170 $56,400 $4,100 $52,300
2023 $1,040 $50,000 $1,100 $48,900
2022 $967 $47,200 $1,100 $46,100
2021 $902 $44,000 $1,100 $42,900
2020 $901 $44,000 $1,100 $42,900
2019 $952 $45,700 $1,100 $44,600
2018 $945 $45,400 $1,100 $44,300
2017 $941 $45,000 $1,100 $43,900
2016 $941 $45,000 $1,100 $43,900
2014 $887 $43,400 $1,100 $42,300
2013 $893 $43,300 $700 $42,600
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Indiana Regional MLS

MLS Number: 202212811

Indiana Regional MLS

APN: 42-12-28-210-009.000-022