502 Patton Chapel Way Unit 502 Hoover, AL 35226
2
Beds
2
Baths
1,148
Sq Ft
$228/mo
HOA Fee
Highlights
- In Ground Pool
- Clubhouse
- Tennis Courts
- Gwin Elementary School Rated A
- Covered Deck
- Breakfast Room
About This Home
As of March 2021Fantastic opportunity for someone looking to start or grow their rental portfolio. Tenant occupied condo. Current lease brings in $950/month. 2 bedrooms, 2 full baths. Master suite has a walk in closet and private en suite bath. Brand new waterproof luxury vinyl flooring installed in 2019. New interior paint 2020. Brand new water heater 2020. Renovated kitchen with tile backsplash and new stainless steel appliances. Main level unit with covered outdoor patio. Complex includes community pool and tennis courts. TENANTS WILL REMAIN, so this condo is NOT for owner occupants.
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $1,133
Year Built
- Built in 1970
HOA Fees
- $228 Monthly HOA Fees
Home Design
- Slab Foundation
- Four Sided Brick Exterior Elevation
Interior Spaces
- 1,148 Sq Ft Home
- 1-Story Property
- Breakfast Room
- Dining Room
Kitchen
- Electric Oven
- Electric Cooktop
- Built-In Microwave
- Stainless Steel Appliances
- Laminate Countertops
Flooring
- Tile
- Vinyl
Bedrooms and Bathrooms
- 2 Bedrooms
- Walk-In Closet
- 2 Full Bathrooms
- Bathtub and Shower Combination in Primary Bathroom
Laundry
- Laundry Room
- Laundry on main level
- Washer and Electric Dryer Hookup
Parking
- Garage on Main Level
- Driveway
- Off-Street Parking
Outdoor Features
- In Ground Pool
- Covered Deck
Schools
- Gwin Elementary School
- Simmons Middle School
- Hoover High School
Utilities
- Central Heating and Cooling System
- Underground Utilities
- Electric Water Heater
Listing and Financial Details
- Visit Down Payment Resource Website
- Assessor Parcel Number 39-00-14-2-006-100.314
Community Details
Overview
- Association fees include garbage collection, common grounds mntc, management fee, recreation facility, utilities for comm areas
- Mckay Management Association, Phone Number (205) 733-6700
Amenities
- Clubhouse
Recreation
- Tennis Courts
- Community Pool
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 12, 2021
Closed on
Oct 14, 2021
Sold by
Jelvehgaran Mahinalsadat
Bought by
Lakhani Amir and Lakhani Ashraf
Seller's Agent
Sal Jan
Keller Williams Realty Hoover
Buyer's Agent
Sal Jan
Keller Williams Realty Hoover
Sold Price
$1,250
Total Days on Market
150
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
$153,650
Purchase Details
Listed on
Oct 6, 2020
Closed on
Mar 25, 2021
Sold by
Lpf Enterprises Llc
Bought by
Jelvehgaran Mahinalsadat
Seller's Agent
CiCi Howell
ARC Realty - Hoover
Buyer's Agent
Sal Jan
Keller Williams Realty Hoover
List Price
$102,500
Sold Price
$81,000
Premium/Discount to List
-$21,500
-20.98%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
16.91%
Purchase Details
Listed on
Mar 8, 2019
Closed on
Apr 5, 2019
Sold by
Shunnarah Nadim
Bought by
Lpf Enterprises Llc
Seller's Agent
Billy Valekis
ARC Realty Cahaba Heights
Buyer's Agent
CiCi Howell
ARC Realty - Hoover
List Price
$83,000
Sold Price
$75,000
Premium/Discount to List
-$8,000
-9.64%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.98%
Original Mortgage
$60,000
Interest Rate
4.1%
Mortgage Type
Commercial
Purchase Details
Closed on
Dec 14, 2006
Sold by
Patton Creek Development Inc
Bought by
Shunnarah Nadim and Shunnarah Cleo
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$65,030
Interest Rate
6.25%
Mortgage Type
Unknown
Map
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Similar Homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $110,000 | -- | |
| Warranty Deed | $81,000 | -- | |
| Warranty Deed | $75,000 | -- | |
| Survivorship Deed | $92,900 | None Available |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $60,000 | Commercial | |
| Previous Owner | $65,030 | Unknown |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/05/2021 12/05/21 | Rented | $1,250 | 0.0% | -- |
| 11/30/2021 11/30/21 | Under Contract | -- | -- | -- |
| 10/12/2021 10/12/21 | For Rent | $1,250 | 0.0% | -- |
| 03/25/2021 03/25/21 | Sold | $81,000 | -13.7% | $71 / Sq Ft |
| 01/04/2021 01/04/21 | Price Changed | $93,900 | -5.6% | $82 / Sq Ft |
| 10/29/2020 10/29/20 | Price Changed | $99,500 | -2.9% | $87 / Sq Ft |
| 10/06/2020 10/06/20 | For Sale | $102,500 | +36.7% | $89 / Sq Ft |
| 04/05/2019 04/05/19 | Sold | $75,000 | -9.6% | $65 / Sq Ft |
| 03/08/2019 03/08/19 | For Sale | $83,000 | -- | $72 / Sq Ft |
Source: Greater Alabama MLS
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 | $2,214 | $30,260 | -- | $30,260 |
| 2022 | $1,665 | $13,300 | $0 | $13,300 |
| 2021 | $1,477 | $13,300 | $0 | $13,300 |
| 2020 | $1,218 | $13,300 | $0 | $13,300 |
| 2019 | $1,133 | $15,600 | $0 | $0 |
| 2018 | $1,106 | $15,240 | $0 | $0 |
| 2017 | $1,045 | $14,400 | $0 | $0 |
| 2016 | $1,045 | $14,400 | $0 | $0 |
| 2015 | $1,069 | $14,720 | $0 | $0 |
| 2014 | $1,186 | $14,200 | $0 | $0 |
| 2013 | $1,186 | $14,200 | $0 | $0 |
Source: Public Records
Source: Greater Alabama MLS
MLS Number: 897811
APN: 39-00-14-2-006-100.314
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