$545,000 Price Analysis    ♡   Cornelius, OR 97113 4 bed 2 bath 1,560 SqFt ($349/SqFt) 9,583SqFt lot. Built 1973 Listed 2024-05-24, Taxes $2,834 | ✓ USDA Eligible near Cornelius, OR |
Looks like a extraordinary investment opportunity!
Zoning for up to a quadplex provides the potential to expand and increase rental income. Buyer to do due diligence with the city. The property already has a functioning duplex with two units, each featuring 2 bedrooms and 1 bathroom. The individual fenced patios and washer/dryer hookups are attractve features for tenants.
Additionally, the detached 2-car garage with separate roll-up doors adds value. Or take the opportunity to expand. The location, having public transportation and shopping a couple blocks away, is convenient for tenants and can help maintain a high occupancy rate. The current tenants are on a month-to-month agreement (for far less than current rent market) which offers flexibility for future plans. Please do not disturb tenants or walk the property.
Presented by Stephanie Mellor at
John L. Scott Market Center.
Property MLS #24613083 from RMLS
Heating: Yes
Water Heaters: Electricity
Lot Size Acres: 0.2199954
Lot Size Dimensions: 9583
Lot Size Square Feet: 9583
Parking Features: Driveway, Open
High School: Forest Grove
Middle School: Tom McCall
Map directions Map directions Map directions Map directionsRent Includes: Sewer, TrashCollection, Water
Unit Type: UnitTypeType1, UnitTypeType2
Bedrooms in Unit-1: 2
Bedrooms in Unit-2: 2
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Annual Tax Amount: 3199
Source Listing Status: Active
County: Washington
Cap Rate: 2.5
Directions: From Adair St go North on 4th Ave, Last duplex on right side of road before railroad tracks
Tax Year: 2023
Source Property Type: MultiFamily
Parcel Number: R751341
Zoning: A2
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $unknown + $unknown $179,150 | $2,834 |
| 2021 | $unknown + $unknown $173,940 | $2,800 |
| 2020 | $unknown + $unknown $168,880 | $2,790 |
| 2019 | $unknown + $unknown $163,970 | $2,729 |
| 2018 | $unknown + $unknown $159,200 | $2,645 |
| 2017 | $unknown + $unknown $154,570 | $2,563 |
| 2016 | $unknown + $unknown $150,070 | $2,491 |
| 2015 | $unknown + $unknown $145,700 | $2,344 |
| 2014 | $unknown + $unknown $141,460 | $2,263 |
| 2013 | $unknown + $unknown $137,340 | $2,242 |
| 2012 | $unknown + $unknown $133,340 | $2,185 |
| 2011 | $unknown + $unknown $129,460 | $2,124 |
| 2010 | $unknown + $unknown $125,690 | $2,106 |
| 2008 | $unknown + $unknown $118,480 | $1,961 |
| 2007 | $unknown + $unknown $115,030 | $1,912 |
$545,000
RMLS
Sold 2002-09-19
$166,500
Public Record
Sold 1991-07-29
$54,000
Public Record
Operating Expense: 5959
Building Area Total: 1560
Foundation Details: ConcretePerimeter
Property Age: 51
Property Condition: Existing
Roof: Composition
Levels or Stories: 1
Water Source: PublicWater
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.