NOT LISTED FOR SALE

Estimated Value: $614,000 - $703,000

3 Beds
2 Baths
1,588 Sq Ft
$414/Sq Ft Est. Value

Last Sold May 12, 2023

Last sale price $690,000 $435 Per Sq Ft

Est. 5% decrease in value since last sale

Current estimated payment $3,882/month

27 Days on Market

Highlights

  • Wood Flooring
  • Covered Patio or Porch
  • 1-Story Property
  • 1 Fireplace
  • Built-In Features
  • 5-minute walk to Sunken Gardens Park

About This Home

As of May 2023

Through no fault of the seller, this property is back on the market! Incredible investment opportunity for a turn key duplex in the fantastic Lincoln Park neighborhood! This property offers a main house on the street level. Featuring 2 large bedrooms, 1 full bathroom, large kitchen with updates, dining room and living room. The unit downstairs features 1 bedroom, 1 full bathroom, a full kitchen and a separate living area. Shared laundry located in the basement. Both units are currently occupied with great tenants. Rents are currently below market rent and could both be raised $200-$400/mo as well as expenses decreased if utilities were charged back to tenants. If aesthetic improvements were done to the property, rents could easily soar beyond projected numbers! Don't miss out on this wonderful income property that can cashflow day 1 with lots of potential! If buyer wanted to occupy the main house, there's a great opportunity to offset their mortgage with the downstairs apartment income!

Last Agent to Sell the Property

Daniel Cooper

Price & Co. Real Estate License #100095188 Listed on: 03/18/2023

Last Buyer's Agent

Nathanael Caldwell

MODUS Real Estate License #100089564

MODUS Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,964

Year Built

  • Built in 1921

Lot Details

  • 2,178 Sq Ft Lot
  • South Facing Home
  • Property is Fully Fenced
  • Level Lot

Home Design

  • Duplex
  • Brick Exterior Construction
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 1-Story Property
  • Built-In Features
  • 1 Fireplace
  • Wood Flooring
  • Finished Basement

Kitchen

  • Convection Oven
  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Laundry

  • Dryer
  • Washer

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Schools

  • Dora Moore Elementary School
  • Kepner Middle School
  • West High School

Utilities

  • Mini Split Air Conditioners
  • Master Meter
  • Shared Gas Meter
  • Shared Water Meter
  • Water Heater

Additional Features

  • Smoke Free Home
  • Covered Patio or Porch

Community Details

  • Smiths Subdivision
  • Laundry Facilities
  • Operating Expense $12,465

Listing and Financial Details

  • Exclusions: Tenants personal property.
  • Tenant pays for cable TV, internet
  • The owner pays for electricity, gas, insurance, taxes, trash collection, water
  • Assessor Parcel Number 5036-06-009

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,964

Year Built

Built in 1921

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Duplex
  • Structure Type: Duplex
  • Levels: One
  • Above Grade Price per Sq Ft: 761.59
  • Finished Price per Sq Ft: 434.51
  • Total Price per Sq Ft: 413.67
  • Year Built: 1921
  • Above Grade Finished Sq Ft: 906.00
  • Actual Annual Net Income: 21759.00
  • Below Grade Sq Ft: 80.00
  • Exclusions: Tenants personal property.
  • Living Area: 1588.00
  • P P A: 13800000.00
  • Projected Annual Expense: 9880.00
  • Projected Annual Net Income: 31820.00
  • Projected Gross Income: 41700.00
  • Utility Metering: Common Electric, Common Gas, Common Water
  • Directions: Google Maps
  • SubdivisionName: Smiths
  • Special Features: None

Interior Features

  • Appliances: Convection Oven, Dishwasher, Disposal, Dryer, Microwave, Oven, Refrigerator, Washer
  • Fireplaces: 1
  • Interior Amenities: Built-in Features, Smoke Free
  • Flooring: Wood
  • Basement: Finished
  • Basement: Yes
  • Total Bedrooms: 3
  • Below Grade Sq Ft: 682.00

Exterior Features

  • Direction Faces: South
  • Foundation Details: Concrete Perimeter
  • Roof: Composition
  • Construction Materials: Brick
  • Patio and Porch Features: Covered, Front Porch

Utilities

  • Sewer: Public Sewer
  • Cooling: Air Conditioning-Room
  • Heating: Hot Water
  • Water Source: Public
  • Laundry Features: Common Area
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)

Fee Information

  • Operating Expense: 12465.00

Schools

  • School District: Denver 1
  • Elementary School: Dora Moore
  • Middle School: Kepner
  • High School: West
  • Middle Or Junior School: Kepner

Lot Info

  • Parcel Number: 5036-06-009
  • Lot Size Acres: 0.05
  • Fencing: Full
  • Building Area Total: 1668.00
  • Lot Features: Level
  • Lot Size Sq Ft: 2178.00

Rental Info

  • Owner Pays: Electricity, Gas, Insurance, Taxes, Trash Collection, Water
  • Tenant Pays: Cable TV, Internet

Multi Family

  • Unit Count: 2
  • Utility Billing to Tenants: Included in Rent

Tax Info

  • Tax Year: 2021
  • Tax Annual Amount: 2964.00

MLS Schools

  • Elementary School: Dora Moore
  • High School: West

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 18, 2023
Closed on
May 10, 2023
Sold by
Watusa Llc
Bought by
Cannon Charles
Seller's Agent
Daniel Cooper
Price & Co. Real Estate
Buyer's Agent
Nathanael Caldwell
MODUS Real Estate
List Price
$699,900
Sold Price
$690,000
Premium/Discount to List
-$9,900
-1.41%
Views
40
Current Estimated Value
$657,400

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$32,600
Avg. Annual Appreciation
-2.13%
Original Mortgage
$666,971
Outstanding Balance
$650,926
Interest Rate
6.28%
Mortgage Type
FHA
Estimated Equity
$6,474

Purchase Details

Listed on
Mar 18, 2023
Closed on
Apr 26, 2023
Sold by
Hannen Trust
Bought by
Watusa Llc
Seller's Agent
Daniel Cooper
Price & Co. Real Estate
Buyer's Agent
Nathanael Caldwell
MODUS Real Estate
List Price
$699,900
Sold Price
$690,000
Premium/Discount to List
-$9,900
-1.41%
Views
40

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$666,971
Outstanding Balance
$650,926
Interest Rate
6.28%
Mortgage Type
FHA
Estimated Equity
$6,474

Purchase Details

Closed on
Nov 17, 2020
Sold by
Hannen Trust
Bought by
Watusa Llc

Purchase Details

Closed on
Jul 22, 2020
Sold by
Hannen Family Trust
Bought by
Hannen Trust

Purchase Details

Closed on
May 10, 2016
Sold by
Hannen Ruth S
Bought by
Hannen Justin D

Purchase Details

Closed on
Dec 26, 2012
Sold by
Hannen Justin D
Bought by
Hannen Family Trust
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
Cannon Charles $690,000 Land Title
Watusa Llc -- None Listed On Document
Watusa Llc -- None Available
Hannen Trust -- None Available
Hannen Justin D -- None Available
Hannen Family Trust -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Cannon Charles $666,971
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/12/2023 05/12/23 Sold $690,000 -1.4% $435 / Sq Ft
04/14/2023 04/14/23 Pending -- -- --
04/05/2023 04/05/23 For Sale $699,900 0.0% $441 / Sq Ft
03/30/2023 03/30/23 Pending -- -- --
03/18/2023 03/18/23 For Sale $699,900 -- $441 / Sq Ft
Source: REcolorado®

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 $3,393 $42,840 $11,660 $31,180
2023 $3,320 $42,840 $11,660 $31,180
2022 $3,070 $38,600 $14,320 $24,280
2021 $3,070 $39,720 $14,740 $24,980
2020 $2,394 $32,260 $9,010 $23,250
2019 $2,326 $32,260 $9,010 $23,250
2018 $2,074 $26,810 $6,600 $20,210
2017 $2,068 $26,810 $6,600 $20,210
2016 $1,770 $21,700 $3,646 $18,054
2015 $1,695 $21,700 $3,646 $18,054
2014 $1,331 $16,020 $1,823 $14,197
Source: Public Records

Agents Affiliated with this Home

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Map

Source: REcolorado®

MLS Number: 4373854

REcolorado®

APN: 5036-06-009