Listed by Coldwell Banker Danforth, Bought with FTW Appraisal Partners, LLC
NOT LISTED FOR SALE

705 2nd Ave N Kent, WA 98032

Estimated Value: $525,000 - $646,000

3 Beds
2 Baths
1,640 Sq Ft
$353/Sq Ft Est. Value

Last Sold September 02, 2022

Last sale price $570,000 $348 Per Sq Ft

Est. 1% increase in value since last sale

Current estimated payment $3,576/month

69 Days on Market

Highlights

  • Wood Flooring
  • Property is Fully Fenced
  • 1-Story Property
  • No HOA

About This Home

As of September 2022

Investment opportunity - duplex in downtown Kent. Walking distance to shopping, restaurants and Kent Station transit stop. Main house of duplex has been occupied by same tenant for 25 years. In good structural and working condition, needs some cosmetic upgrades but has beautiful hardwood floor and built-in storage cabinets. Smaller unit is 1BR and has been upgraded with new granite counters and s appliances and also beautiful hardwood floors. Both units have their owned fenced front and back yards. Has new roof and recently painted. Because this is a multi-zoned location and on a prominent traffic location, the value of this property is in the land. Opportunity to earn rental income while getting permits for future build.

Last Agent to Sell the Property

Kimberly Hawthorne

Coldwell Banker Danforth License #20121100 Listed on: 06/08/2022

Coldwell Banker Danforth

Co-Listed By

Bradley Hawthorne

Coldwell Banker Danforth License #17983

Last Buyer's Agent

Tej Asher

FTW Appraisal Partners, LLC

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1948954

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,671

Year Built

  • Built in 1948

Lot Details

  • 10,160 Sq Ft Lot
  • Property is Fully Fenced
  • Value in Land

Home Design

  • Duplex
  • Poured Concrete
  • Composition Roof
  • Wood Composite

Interior Spaces

  • 1,640 Sq Ft Home
  • 1-Story Property

Flooring

  • Wood
  • Wall to Wall Carpet
  • Vinyl

Parking

  • 2 Parking Spaces
  • Open Parking

Community Details

  • No Home Owners Association
  • Downtown Kent Subdivision

Listing and Financial Details

  • Assessor Parcel Number 6146600375

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,671

Year Built

Built in 1948

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 52 - Duplex
  • Year Built: 1948
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 1640
  • Special Features: None
  • Cumulative Days on Market: 430

Interior Features

  • Possible Use: See Remarks
  • Fireplace: No
  • Flooring: Hardwood, Vinyl, Carpet
  • Interior Amenities: Hardwood, Wall to Wall Carpet
  • Stories: 1
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • Lot Features: Value In Land
  • View: No
  • Waterfront: No
  • Exterior Features: Wood Products
  • Foundation Details: Poured Concrete
  • Structure Type: Duplex

Garage/Parking

  • Carport Spaces: 1
  • Carport Y N: No
  • Open Parking Spaces: 2
  • Open Parking: Yes
  • Total Parking Spaces: 2
  • ParkingUncoveredSpaces: 2

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: PartiallyFenced
  • Heating Yn: Yes
  • Utilities: Natural Gas Available, Sewer Connected, Electric, Natural Gas Connected
  • WaterSewerGarbage: 0

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Kent

Lot Info

  • Parcel Number: 6146600375
  • Lot Size Acres: 0.2332
  • Lot Size Sq Ft: 10160
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Fenced-Fully,Gas Available
  • MLSLotSizeSource: Realist
  • ZoningJurisdiction: City
  • ZoningClass: See Remarks

Green Features

  • Power Production Type: Electric, Natural Gas

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 0
  • LeasedItems: None
  • TotalMonthlyIncome: 2590

Multi Family

  • Gross Scheduled Income: 31080
  • Number Of Units Total: 2
  • Leasable Area: 1670
  • EnergySource: Electric,Natural Gas
  • UnitsInBuildingTotal: 2
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2022
  • Tax Annual Amount: 4671

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 8, 2022
Closed on
Sep 1, 2022
Sold by
Adler Richard H and Adler Donna M
Bought by
Chinnaraju Aravind and Ravichandran Surya
Seller's Agent
Kimberly Hawthorne
Coldwell Banker Danforth
Buyer's Agent
Tej Asher
FTW Appraisal Partners, LLC
List Price
$619,900
Sold Price
$570,000
Premium/Discount to List
-$49,900
-8.05%
Current Estimated Value
$578,239

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$8,239
Avg. Annual Appreciation
0.48%
Original Mortgage
$484,500
Outstanding Balance
$415,168
Interest Rate
4.75%
Mortgage Type
New Conventional
Estimated Equity
$163,071

Purchase Details

Closed on
May 10, 2007
Sold by
Breslich Mark L and Breslich Tracey A
Bought by
Adler Richard H and Adler Donna M

Purchase Details

Closed on
Apr 7, 1991
Sold by
Turner Ronald S
Bought by
Breslich Mark L and Breslich Tracey A
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
Chinnaraju Aravind $570,000 Stewart Title
Adler Richard H $300,000 Ticor National
Breslich Mark L -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Chinnaraju Aravind $48,600
Open Chinnaraju Aravind $484,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/02/2022 09/02/22 Sold $570,000 -8.0% $348 / Sq Ft
08/16/2022 08/16/22 Pending -- -- --
06/08/2022 06/08/22 For Sale $619,900 -- $378 / 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 $5,178 $508,000 $165,000 $343,000
2023 $5,112 $453,000 $165,000 $288,000
2022 $4,671 $486,000 $182,000 $304,000
2021 $4,204 $388,000 $147,000 $241,000
2020 $4,126 $332,000 $126,000 $206,000
2018 $3,616 $304,000 $100,000 $204,000
2017 $2,814 $269,000 $96,000 $173,000
2016 $2,844 $210,000 $107,000 $103,000
2015 $2,629 $202,000 $102,000 $100,000
2014 -- $182,000 $102,000 $80,000
2013 -- $163,000 $102,000 $61,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1948954

Northwest Multiple Listing Service (NWMLS)

APN: 614660-0375