Seller's Agent in 2017
Yasmin Bowman
BHHS PenFed (actual)
(302) 438-8667
63 Total Sales
802 N Van Buren St Wilmington, DE 19806
West Hill NeighborhoodEstimated Value: $349,589 - $386,000
--
Bed
3
Baths
2,250
Sq Ft
$163/Sq Ft
Est. Value
Highlights
- No HOA
- Central Air
- Heating System Uses Gas
- En-Suite Primary Bedroom
- Wall to Wall Carpet
- 4-minute walk to Tilton Park
About This Home
As of July 2017Attention investors looking for instant cash flow, easy management and good ROI without the hassle of up-front renovations, carrying costs, income deferral, deferred maintenance or tenant disruption / placement. This is a turn key, well-performing, income-generating, updated apartment triplex building with current rents. Located in popular, super-convenient, charming, historic Cool Springs district. Among this attractive community's draws are a weekly organic farmer's market, open air entertainment, fountains, beautiful historical homes, great walking sights and a short walk to downtown. The building's location being highly accessible to many amenities, unique floor plans, charming historical design, large bedrooms and excellent closet / storage space all make its apartments highly desirable in the rental market. Many updates have been completed by current owners including separate gas-fired heaters, hot water heaters and central A/C compressors so tenants pay all utilities directly (except sewer and water) for more consistent ROI. Stackable clothes washers and dryers are in each unit. Charming apartments in nice condition. Building is fully occupied with long term tenants in place with rents being current. Notoriously low property taxes in DE contribute to favorable capitalization rates vs neighboring states. Super-convenient location walking distance to the Interstate-95 on-ramp; downtown Wilmington business center; national banking capital and entertainment center, Wilmington Riverfront and Trolley Square dining & entertainment district. Building is in a beautiful historical district but is not on the Historical Registry.
Last Agent to Sell the Property
Berkshire Hathaway HomeServices PenFed Realty License #RA-0020276 Listed on: 04/24/2017
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,908
Year Built
- Built in 1889
Lot Details
- 1,742 Sq Ft Lot
- Lot Dimensions are 17x96
- Property is in good condition
Parking
- On-Street Parking
Home Design
- Triplex
- Brick Exterior Construction
Interior Spaces
- En-Suite Primary Bedroom
- 2,250 Sq Ft Home
- Wall to Wall Carpet
- Unfinished Basement
- Basement Fills Entire Space Under The House
- Laundry in unit
Utilities
- Central Air
- Heating System Uses Gas
- Natural Gas Water Heater
Listing and Financial Details
- Tax Lot 283
- Assessor Parcel Number 26-027.40-283
Community Details
Overview
- No Home Owners Association
- Cool Spring Subdivision
Building Details
- Electric Expense $180
- Insurance Expense $1,218
- Maintenance Expense $1,200
- Operating Expense $6,486
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 24, 2017
Closed on
Jul 10, 2017
Sold by
Vernot Julie L and Vernot James
Bought by
Lawal Nurudeen J
Seller's Agent
Yasmin Bowman
Berkshire Hathaway HomeServices PenFed Realty
Buyer's Agent
Renee Spruiel
RE/MAX Associates-Wilmington
List Price
$255,000
Sold Price
$240,000
Premium/Discount to List
-$15,000
-5.88%
Total Days on Market
15
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
$127,530
Avg. Annual Appreciation
5.53%
Original Mortgage
$235,653
Outstanding Balance
$196,253
Interest Rate
3.62%
Mortgage Type
FHA
Estimated Equity
$171,277
Purchase Details
Closed on
Mar 1, 2005
Sold by
Smith Stephen Eric and Pinkney Seson
Bought by
Vernot James and Vernot Julie L
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
5.64%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Feb 20, 2004
Sold by
Sayid Kadeu
Bought by
Smith Stephen Eric
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$162,000
Interest Rate
5.65%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Dec 16, 2002
Sold by
Van Buren Historic Associates
Bought by
Sayid Kadeu
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Lawal Nurudeen J | -- | None Available | |
| Vernot James | $195,000 | -- | |
| Smith Stephen Eric | $180,000 | Transnation Title Ins Co | |
| Sayid Kadeu | $141,626 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Lawal Nurudeen J | $235,653 | |
| Previous Owner | Vernot James | $159,000 | |
| Previous Owner | Vernot James | $156,000 | |
| Previous Owner | Vernot Julie L | $29,250 | |
| Previous Owner | Smith Stephen Eric | $162,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/10/2017 07/10/17 | Sold | $240,000 | -5.9% | $107 / Sq Ft |
| 07/01/2017 07/01/17 | Price Changed | $255,000 | 0.0% | $113 / Sq Ft |
| 05/09/2017 05/09/17 | Pending | -- | -- | -- |
| 04/24/2017 04/24/17 | For Sale | $255,000 | -- | $113 / Sq Ft |
Source: Bright MLS
Tax History Compared to Growth
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 | $2,038 | $65,300 | $5,900 | $59,400 |
| 2023 | $1,771 | $65,300 | $5,900 | $59,400 |
| 2022 | $1,779 | $65,300 | $5,900 | $59,400 |
| 2021 | $1,776 | $65,300 | $5,900 | $59,400 |
| 2020 | $1,786 | $65,300 | $5,900 | $59,400 |
| 2019 | $3,099 | $65,300 | $5,900 | $59,400 |
| 2018 | $1,778 | $65,300 | $5,900 | $59,400 |
| 2017 | $1,775 | $65,300 | $5,900 | $59,400 |
| 2016 | $1,682 | $65,300 | $5,900 | $59,400 |
| 2015 | $2,767 | $65,300 | $5,900 | $59,400 |
| 2014 | $2,627 | $65,300 | $5,900 | $59,400 |
Source: Public Records
Agents Affiliated with this Home
-
Yasmin Bowman
-
Renee Spruiel
Buyer's Agent in 2017
Renee Spruiel
RE/MAX
(302) 559-5402
4 in this area
99 Total Sales
Map
Source: Bright MLS
MLS Number: 1000064120
APN: 26-027.40-283
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