$445,000 Price Analysis 214 SW M StMadras, OR 97741 7 bed 5 bath 2,263 SqFt ($196/SqFt) Built 1952 Listed 2023-10-05, Taxes $2,151 | ✓ USDA Eligible near Madras, OR Restrictions may apply due to home size |
Fully occupied 5 plex in the heart of Madras with 6.5% cap rate. Rents total $3, 725/mo. Unit mix is Two units w/ 2bds, 1bath and three studios. Property has undergone a full rewire, allowing future landlord to start to have tenant pay for there own electricity adding to the NOI and boosting value of property. Other upgrades include a fresh exterior paint job, re-graveling of parking areas and various units have been upgraded at turnover.
This property is fully rented and managed by an incredible local management company that keeps it occupied all the time. Madras continues to be a growing market as higher rents in the Bend and Redmond market drive people to live in more affordable areas. Don't miss this opportunity to own this exceptional cash flowing turnkey investment property. Showings will be allowed with accepted offer. Listing agent is also part owner. No sign on property, please do not disturb tenants. Property could be converted to a 4plex for easier financing. Call LA for details!
Presented by Justin Leithem at
Iron Gate Realty Group.
Property MLS #23144399 from RMLS
Year | Assessments Building + Land Total | Tax |
---|---|---|
2022 | $unknown + $unknown $105,670 | $2,151 |
2021 | $unknown + $unknown $102,600 | $2,060 |
2020 | $unknown + $unknown $99,620 | $2,017 |
2019 | $unknown + $unknown $96,720 | $1,946 |
2018 | $unknown + $unknown $93,910 | $1,884 |
2017 | $unknown + $unknown $91,180 | $1,815 |
2016 | $63,350 + $25,180 $88,530 | $1,609 |
2015 | $63,350 + $24,990 $88,340 | $1,615 |
2014 | $unknown + $unknown $87,640 | $1,664 |
2013 | $unknown + $unknown $85,090 | $1,815 |
2012 | $unknown + $unknown $82,620 | $1,776 |
2011 | $unknown + $unknown $80,220 | $1,706 |
2010 | $unknown + $unknown $77,890 | $1,604 |
2008 | $unknown + $unknown $73,430 | $1,525 |
2006 | $35,226 + $21,080 $56,306 | $1,473 |
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.