NOT LISTED FOR SALE

527 E Lincoln Way Ames, IA 50010

South Ames Business Neighborhood

Estimated Value: $207,000 - $618,319

3 Beds
15 Baths
7,044 Sq Ft
$68/Sq Ft Est. Value

Last Sold January 11, 2022

Last sale price $525,000 $75 Per Sq Ft

Est. 9% decrease in value since last sale

Current estimated payment $3,572/month

75 Days on Market

Highlights

  • 0.9 Acre Lot
  • Cooling System Mounted In Outer Wall Opening
  • Heating System Uses Natural Gas
  • 1 Car Detached Garage
  • Carpet

About This Home

As of January 2022

Don't know what to do with your money? Great opportunity on this multifamily property with nice cash flow! Consists of 3 buildings in all and a detached garage. 2bd/1 ba up/down duplex at the road with 2 one level row apartments to the North. Apartments are 1 bd/1 ba consisting of 13 units. Co-op laundry on site provides additional income. Property has been well maintained with many improvements. Great rental history. 2020 approximate numbers: Income $105k, expenses at $49k (not including debt service).

Last Agent to Sell the Property

Lloyd Flanders

RE/MAX REAL ESTATE CENTER License #S58137 Listed on: 09/17/2021

RE/MAX REAL ESTATE CENTER

Last Buyer's Agent

Beth Skluzacek

CENTRAL IOWA BOARD OF REALTORS

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,298

Year Built

  • Built in 1945

Lot Details

  • 39,204 Sq Ft Lot
  • Lot Dimensions are 132 x 290

Parking

  • 1 Car Detached Garage

Home Design

  • Vinyl Construction Material

Interior Spaces

  • 7,044 Sq Ft Home
  • Partial Basement

Flooring

  • Carpet
  • Vinyl

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Heating System Uses Natural Gas

Community Details

  • Operating Expense $49,064
  • Gross Income $105,743
  • Net Operating Income $56,679

Listing and Financial Details

  • Assessor Parcel Number 09-02-477-080

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,298

Year Built

Built in 1945

Lot Details

0.9 Acres

Listing Details

  • Property Sub Type: Apartment
  • Prop. Type: Multi-Family
  • Lot Size Acres: 0.9
  • Lot Size: 132 x 290
  • Architectural Style: Other
  • Garage Yn: Yes
  • Year Built: 1945
  • Sewer:Public: Yes
  • Water:Public2: Yes
  • Floor:Carpet: Yes
  • Floor:Vinyl2: Yes
  • Exterior:Vinyl: Yes
  • Keywords:Architectural Style2: Other
  • Annual Expenses: 49064.0
  • Income Expenses Net Income: 56679.0
  • Cooling:Wall Unit(s): Yes
  • Special Features: None

Interior Features

  • Has Basement: Partial
  • Flooring: Vinyl, Carpet
  • Basement:Partial2: Yes

Exterior Features

  • Construction Type: Vinyl

Garage/Parking

  • Keywords:Garage Capacity3: 1 Car
  • Keywords:Garage Type3: Detached
  • Keywords:Parking Spaces2: 31 - 50 Spaces

Utilities

  • Cooling: Wall Unit(s)
  • Cooling Y N: Yes
  • Heating: Natural Gas
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Water Source: Public
  • Heating:Natural Gas: Yes

Schools

  • Junior High Dist: Ames

Lot Info

  • Lot Size Sq Ft: 39204.0
  • Parcel #: 09-02-477-080
  • Zoning: HOC
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Who Pays Trash: Landlord
  • Who Pays Water: Landlord

Multi Family

  • Number Of Units Total: 1
  • Annual Gross Income: 105743.0
  • Property Net Operating Income: 56679.0
  • Annual Operating Expense: 49064.0

Tax Info

  • Tax Annual Amount: 6298.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 17, 2021
Closed on
Jan 7, 2022
Sold by
East Apartments Cooperative Inc
Bought by
Weatherly Properties Llc
Seller's Agent
Lloyd Flanders
RE/MAX REAL ESTATE CENTER
Buyer's Agent
Beth Skluzacek
CENTRAL IOWA BOARD OF REALTORS
List Price
$575,000
Sold Price
$525,000
Premium/Discount to List
-$50,000
-8.7%
Current Estimated Value
$479,080

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$45,920
Avg. Annual Appreciation
-2.16%
Original Mortgage
$510,000
Outstanding Balance
$143,860
Interest Rate
3.12%
Mortgage Type
New Conventional
Estimated Equity
$335,220
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Weatherly Properties Llc $525,000 Rowe James G
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Weatherly Properties Llc $510,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
01/11/2022 01/11/22 Sold $525,000 -8.7% $75 / Sq Ft
12/02/2021 12/02/21 Pending -- -- --
09/17/2021 09/17/21 For Sale $575,000 +121.2% $82 / Sq Ft
10/04/2013 10/04/13 Sold $260,000 -25.7% -- View Prior Sale
08/09/2013 08/09/13 Pending -- -- --
04/01/2013 04/01/13 For Sale $350,000 -- --
Source: Central Iowa Board of REALTORS®

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
2025 $12,142 $694,600 $218,500 $476,100
2024 $11,886 $837,000 $295,300 $541,700
2023 $8,548 $837,000 $295,300 $541,700
2022 $5,950 $508,100 $232,500 $275,600
2021 $6,298 $358,000 $358,000 $0
2020 $4,768 $358,000 $358,000 $0
2019 $4,768 $275,000 $275,000 $0
2018 $4,804 $275,000 $275,000 $0
2017 $4,804 $275,000 $275,000 $0
2016 $4,842 $275,000 $275,000 $0
2015 $4,842 $275,000 $275,000 $0
2014 $4,940 $371,000 $315,400 $55,600
Source: Public Records

Agents Affiliated with this Home

  • Lloyd Flanders

    Seller's Agent in 2022

    Lloyd Flanders

    RE/MAX

    (515) 450-9890

    3 in this area

    229 Total Sales

    Lloyd Flanders
    Section Image

  • B

    Buyer's Agent in 2022

    Beth Skluzacek

    CENTRAL IOWA BOARD OF REALTORS

    (515) 296-4680

    7 in this area

    3,439 Total Sales

    Beth Skluzacek
    Section Image
  • Tami Hicks

    Seller's Agent in 2013

    Tami Hicks

    CENTURY 21 SIGNATURE-Ames

    (515) 290-4067

    3 in this area

    135 Total Sales

    Tami Hicks
    Section Image
  • Vicki Hill

    Seller Co-Listing Agent in 2013

    Vicki Hill

    CENTURY 21 SIGNATURE-Ames

    (515) 290-5657

    27 Total Sales

    Vicki Hill
    Section Image
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Map

Source: Central Iowa Board of REALTORS®

MLS Number: 58614

APN: 09-02-477-080

Iowa Story County Ames 50010 South Ames Business

527 E Lincoln Way, Ames, IA

Not Listed for Sale

MultiFamily

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