NOT LISTED FOR SALE

Covelo, CA 95428

Estimated Value: $956,000

10 Beds
4 Baths
4,200 Sq Ft
$228/Sq Ft Est. Value

Last Sold March 07, 2018

Last sale price $700,000 $167 Per Sq Ft

Est. 37% increase in value since last sale

Current estimated payment $5,628/month

276 Days on Market

Highlights

  • 9.4 Acre Lot
  • No HOA
  • Carpet

About This Home

As of March 2018

11 houses built on one parcel in Mendocino County--6-- 2bd, 1 ba, and 5-- 3bd, 1 ba. Shared well, and each unit has its own septic. Large fenced yards, some garages, some carports. Proven income generator ---currently at $128k annually and rents are $200-$300 low! Long term tenants want to stay. No drive-bys. Do not disturb tenants.

Last Agent to Sell the Property

John Wiebe

Diamond Real Estate Services License #00934564 Listed on: 04/21/2017

Last Buyer's Agent

Non-MLS Member

Non-MLS Office

Property Details

Home Type

  • Multi-Family

Lot Details

  • 9.4

Home Design

  • Composition Roof

Flooring

  • Carpet
  • Linoleum
  • Laminate

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Additional Features

  • 1-Story Property
  • 9.4 Acre Lot

Listing and Financial Details

  • Tenant pays for electricity, gas, trash collection
  • Assessor Parcel Number 0323-3020-00

Community Details

Overview

  • No Home Owners Association
  • 11 Buildings
  • 11 Units

Building Details

  • 11 Leased Units
  • 11 Units Leased Month-To-Month
  • Operating Expense $14,825

Property Details

Home Type

Multi-Family

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Subtype 1: 5 or More Units
  • Stories: 1
  • Architectural Style: Ranch
  • Year Built Details: Unknown
  • Number of Three Bedroom Units: 5
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Varies By Unit
  • Other Equipment: None
  • Flooring: Carpet, Laminate, Varies by Unit, Linoleum/Vinyl

Exterior Features

  • Construction Materials: Wood
  • Disclosures/Documents: None
  • Listing Price: 700000.00
  • Patio And Porch Features: Varies by Unit
  • Roof: Composition

Garage/Parking

  • Parking Features: Varies by Unit

Utilities

  • Security: Carbon Mon Detector, Smoke Detector, Varies By Unit
  • Cooling: Varies by Unit
  • Heating: Varies by Unit

Condo/Co-op/Association

  • Association Features: Yard Space, Varies By Unit
  • Association: No

Schools

  • Senior High School District: Other

Lot Info

  • Zoning Description: RR-10
  • Lot Size Acres: 9.4000
  • Lot Size Sq Ft: 409464

Rental Info

  • Tenant Pays: Electricity, Gas, Trash Collection
  • Total # Leasable: 11

Multi Family

  • Operating Expense: 14825
  • Income Includes: Rent Only
  • Existing Lease Type: See Remarks
  • Number of Leased Units: 11
  • Number of Month to Month Units: 11
  • Number of Units: 11
  • Units Furnished: None
  • Gross Income Multiplier: 15.300

Tax Info

  • Assessor Parcel Number: 0323-3020-00

MLS Schools

  • School District (County): Other

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 15, 2022
Sold by
Marinelli and Tisha
Bought by
Marinelli Family 2019 Trust
Current Estimated Value
$956,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Outstanding Balance
$286,427
Interest Rate
5.51%
Mortgage Type
New Conventional
Estimated Equity
$710,573

Purchase Details

Closed on
Jul 26, 2022
Sold by
Springbuck Village Llc
Bought by
Marinelli Anthony and Marinelli Tisha

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Outstanding Balance
$286,427
Interest Rate
5.51%
Mortgage Type
New Conventional
Estimated Equity
$710,573

Purchase Details

Closed on
Feb 13, 2019
Sold by
Marinelli and Tisha
Bought by
Springbuck Village Llc

Purchase Details

Listed on
Apr 21, 2017
Closed on
Feb 13, 2018
Sold by
Charles Stevens Financial Inc
Bought by
Marinelli Anthony and Marinelli Tisha
Seller's Agent
John Wiebe
Diamond Real Estate Services
Buyer's Agent
Non-MLS Member
Non-MLS Office
List Price
$1,400,000
Sold Price
$700,000
Premium/Discount to List
-$700,000
-50%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.58%
Original Mortgage
$535,000
Interest Rate
4.15%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 20, 2002
Sold by
Barr Gareth and Barr Lois Karel
Bought by
Charles Stevens Financial Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$276,250
Interest Rate
5.89%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 24, 2000
Sold by
Anor Marie Bradbury Charles Montell
Bought by
Barr Gareth and Karel Barr Lois

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$185,250
Interest Rate
7.87%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Purchase History

Date Buyer Sale Price Title Company
Marinelli Family 2019 Trust -- Cornerstone Title
Marinelli Anthony -- None Listed On Document
Springbuck Village Llc -- None Listed On Document
Marinelli Anthony $700,000 Redwood Empire Title Co
Charles Stevens Financial Inc $425,000 First American Title Co
Barr Gareth $285,000 First American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Marinelli Family 2019 Trust $300,000
Previous Owner Marinelli Anthony $535,000
Previous Owner Charles Stevens Financial Inc $276,250
Previous Owner Barr Gareth $185,250
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/07/2018 03/07/18 Sold $700,000 -50.0% $167 / Sq Ft
01/22/2018 01/22/18 Pending -- -- --
04/21/2017 04/21/17 For Sale $1,400,000 -- $333 / Sq Ft
Source: MetroList

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
2025 $7,953 $746,276 $345,709 $400,567
2023 $7,953 $764,478 $321,660 $442,818
2022 $8,357 $749,489 $315,353 $434,136
2021 $8,307 $735,823 $321,134 $414,689
2020 $8,273 $728,280 $317,842 $410,438
2019 $7,847 $714,000 $311,610 $402,390
2018 $5,799 $540,957 $146,377 $394,580
2017 $5,622 $530,353 $143,507 $386,846
2016 $5,595 $519,957 $140,694 $379,263
2015 $5,250 $512,151 $138,582 $373,569
2014 $5,438 $502,121 $135,868 $366,253
Source: Public Records

Agents Affiliated with this Home

  • John Wiebe

    Seller's Agent in 2018

    John Wiebe

    Diamond Real Estate Services

    (530) 559-2955

    8 Total Sales

    John Wiebe
    Section Image

  • N

    Buyer's Agent in 2018

    Non-MLS Member

    Non-MLS Office

See All Agents

Source: MetroList

MLS Number: 17023011

MetroList

APN: 032-330-20-00

California Mendocino County Covelo

95428

Not Listed for Sale

MultiFamily

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