Listed by Windermere Mercer Island, Bought with Skyline Properties, Inc.
NOT LISTED FOR SALE

517 Pelly Ave N Unit A&B Renton, WA 98057

Central Renton Neighborhood

Estimated Value: $565,000 - $611,000

4 Beds
2 Baths
1,510 Sq Ft
$395/Sq Ft Est. Value

Last Sold November 09, 2023

Last sale price $561,000 $372 Per Sq Ft

Est. 6% increase in value since last sale

Current estimated payment $3,712/month

Highlights

  • Golf Course Community
  • Deck
  • Engineered Wood Flooring
  • Hazelwood Elementary School Rated 9+
  • Territorial View
  • No HOA

About This Home

As of November 2023

WOW!! Opportunity Knocks! Why buy a condo when you can get a great house in a classic neighborhood with a fantastic location just blocks from Boeing, The Landing, Lake Washington, I405, the Library, and Renton Transit Center? With two separate units, this sunny Downtown duplex offers so much potential. Live in one unit and have your tenant pay part of the expenses of homeownership. Or perhaps you have someone you want to have living adjacent to you? Recent updates mean you can move tenants right in: fresh paint inside and out, new upper level flooring, new lighting, and a brand new deck for enjoying the last of the fall weather. Detached garage + driveway parking for 3 cars! This could be the beginning of a real estate investment portfolio!

Last Agent to Sell the Property

Kathryn Buchanan

Windermere Mercer Island License #5778 Listed on: 10/12/2023

Windermere Mercer Island

Last Buyer's Agent

Jacqueline Kwan

Skyline Properties, Inc. License #114245

Skyline Properties, Inc.

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2171282

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,971

Year Built

  • Built in 1942

Lot Details

  • 5,000 Sq Ft Lot
  • Partially Fenced Property

Home Design

  • Duplex
  • Slab Foundation
  • Poured Concrete
  • Composition Roof
  • Cement Board or Planked

Interior Spaces

  • 1,510 Sq Ft Home
  • 2-Story Property
  • Thermal Windows
  • Territorial Views

Flooring

  • Engineered Wood
  • Wall to Wall Carpet
  • Vinyl

Parking

  • 4 Parking Spaces
  • 1 Covered Space
  • Open Parking

Outdoor Features

  • Deck
  • Patio

Schools

  • Highlands Elementary School
  • Dimmitt Mid Middle School
  • Renton Snr High School

Utilities

  • Forced Air Heating System
  • Baseboard Heating
  • Heating System Mounted To A Wall or Window
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 7224500025

Community Details

Overview

  • No Home Owners Association
  • Downtown Subdivision

Recreation

  • Golf Course Community

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,971

Year Built

Built in 1942

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 52 - Duplex
  • Year Built: 1942
  • Buyer Agency Compensation: 3
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 1510
  • Special Features: None

Interior Features

  • Possible Use: Residential
  • Fireplace: No
  • Flooring: Engineered Hardwood, Vinyl, Carpet
  • Interior Amenities: Wall to Wall Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • Amenities: Thermal Windows

Exterior Features

  • Roof: Composition
  • View: Territorial
  • Lot Features: Community Golf Course, Curbs, Paved, Sidewalk
  • View: Yes
  • Waterfront: No
  • Exterior Features: Cement Planked
  • Foundation Details: Poured Concrete, Slab
  • Structure Type: Duplex

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 1
  • Open Parking Spaces: 3
  • Open Parking: Yes
  • Total Parking Spaces: 4
  • ParkingUncoveredSpaces: 3

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: FullyFenced
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard, Forced Air, Wall Unit(s)
  • Heating Yn: Yes
  • PowerCompany: PSE
  • SewerCompany: City of Renton
  • WaterCompany: City of Renton
  • WaterSewerGarbage: 2500

Condo/Co-op/Association

  • Community Features: Golf
  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Renton
  • High School: Renton Snr High
  • Middle Or Junior School: Dimmitt Mid

Lot Info

  • Parcel Number: 7224500025
  • Lot Size Acres: 0.1148
  • Lot Size Sq Ft: 5000
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Deck,Fenced-Partially,Gas Available,High Speed Internet,Patio
  • MLSLotSizeSource: KCR
  • ZoningJurisdiction: City
  • ZoningClass: Residential

Green Features

  • Efficiency: Thermal Windows
  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 11.47
  • LeasedItems: None
  • TotalMonthlyIncome: 3400

Multi Family

  • Gross Scheduled Income: 40800
  • Net Operating Income: 24036
  • Number Of Units Total: 2
  • Insurance Expense: 1800
  • Leasable Area: 1510
  • EnergySource: Electric
  • UnitsInBuildingTotal: 2
  • UnitsBelowGrade: true
  • VacancyRate: 3

Tax Info

  • Year: 2023
  • Tax Annual Amount: 4971

MLS Schools

  • Elementary School: Highlands Elem

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 12, 2023
Closed on
Nov 7, 2023
Sold by
Greenstein Todd and Greenstein Stacey J
Bought by
Leibowitz John and Kwan Jacqueline
Seller's Agent
Kathryn Buchanan
Windermere Mercer Island
Buyer's Agent
Jacqueline Kwan
Skyline Properties, Inc.
List Price
$467,900
Sold Price
$561,000
Premium/Discount to List
$93,100
19.9%
Current Estimated Value
$596,807

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$35,807
Avg. Annual Appreciation
3.46%
Original Mortgage
$420,750
Outstanding Balance
$414,959
Interest Rate
7.31%
Mortgage Type
New Conventional
Estimated Equity
$181,848

Purchase Details

Closed on
Apr 4, 2003
Sold by
Mina Else
Bought by
Greenstein Todd A and Greenstein Stacey J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$156,000
Interest Rate
5.78%

Purchase Details

Closed on
Apr 20, 2000
Sold by
Burnatowski Janusz J and Burnatowski Christ A
Bought by
Mina Else

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$165,050
Interest Rate
8.24%

Purchase Details

Closed on
Dec 20, 1994
Sold by
Muhalhal Abdulwahad R and Gaddah Widad
Bought by
Caahill Orrin and Caahill Shelly

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$119,019
Interest Rate
9.25%
Mortgage Type
FHA

Purchase Details

Closed on
Dec 16, 1994
Sold by
Lacardi Uk Ltd
Bought by
Burnatowski Janusz J and Burnatowski Christa A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$119,019
Interest Rate
9.25%
Mortgage Type
FHA

Purchase Details

Closed on
Nov 17, 1993
Sold by
Ghaddah Nasser
Bought by
Caahill Orrin and Caahill Shelley
Source: Public Records

Range of Values:

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Average Value
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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
Leibowitz John $561,000 Cw Title
Greenstein Todd A $195,000 Fidelity Natio
Mina Else $183,400 Transnation Title Insurance
Caahill Orrin -- First American Title Co
Caahill Orrin -- First American Title Co
Burnatowski Janusz J $120,000 First American Title
Caahill Orrin -- Chicago Title Insurance Comp
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Leibowitz John $420,750
Previous Owner Greenstein Todd A $196,000
Previous Owner Greenstein Todd A $156,000
Previous Owner Mina Else $165,050
Previous Owner Burnatowski Janusz J $119,019
Closed Greenstein Todd A $19,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/09/2023 11/09/23 Sold $561,000 +19.9% $372 / Sq Ft
10/12/2023 10/12/23 Pending -- -- --
10/12/2023 10/12/23 For Sale $467,900 -- $310 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

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 $5,590 $544,000 $357,000 $187,000
2023 $5,137 $476,000 $197,000 $279,000
2022 $4,726 $513,000 $208,000 $305,000
2021 $4,260 $421,000 $172,000 $249,000
2020 $4,143 $362,000 $152,000 $210,000
2018 $4,109 $336,000 $152,000 $184,000
2017 $3,419 $312,000 $130,000 $182,000
2016 $3,093 $254,000 $111,000 $143,000
2015 $2,678 $233,000 $102,000 $131,000
2014 -- $211,000 $90,000 $121,000
2013 -- $175,000 $82,000 $93,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2171282

Northwest Multiple Listing Service (NWMLS)

APN: 722450-0025