$445,000 Price Analysis   ♡   Madras, 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 |
Seller to contribute $15k towards rate buydown!
* No Longer For Sale *
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Fully occupid 5 plex in the heart of Madras with 6.5% cap rate. Rents total $3, 725/mo. Unit mix is Two units w/ 2beds, 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 extraordinary 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
Heating Features: Zoned
Heating: Yes
Water Heaters: Electricity
High School: Madras
Middle School: Jefferson Co
Map directions Map directions Map directions Map directionsRent Includes: Electricity, Heat, Sewer, TrashCollection, Water
Unit Type: UnitTypeType1, UnitTypeType2, UnitTypeType3, UnitTypeType4, UnitTypeType5
Bedrooms in Unit-1: 2
Bedrooms in Unit-2: 1
Bedrooms in Unit-3: 1
Bedrooms in Unit-4: 2
Bedrooms in Unit-5: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 1
Annual Tax Amount: 2151.599999999
Source Listing Status: Closed
County: Jefferson
Cap Rate: 7.02
Directions: M st
Tax Year: 2022
Source Property Type: MultiFamily
Parcel Number: 10254
Zoning: R1
Source System Name: C2C
| 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 |
$445,000
RMLS
Relisted 2024-04-16
$460,000
RMLS
Listing removed 2024-04-15
$0
RMLS
Price Changed 2024-01-20
$460,000
RMLS
Price Changed 2024-01-19
$0
RMLS
Price Changed 2024-01-12
$460,000
RMLS
Price Changed 2023-12-08
$465,000
RMLS
Price Changed 2023-11-20
$469,000
RMLS
Price Changed 2023-10-24
$489,000
RMLS
Listed 2023-10-05
$499,000
RMLS
Sold 2016-05-04
$180,000
Public Record
Sold 2012-07-16
$110,000
Public Record
Listing removed 2011-12-20
$142,000
CentralOregon
Listed 2011-09-08
$142,000
CentralOregon
Listing removed 2010-07-16
$179,900
CentralOregon
Price Changed 2010-05-18
$179,900
CentralOregon
Price Changed 2010-05-17
$199,900
CentralOregon
Price Changed 2010-02-13
$215,000
CentralOregon
Listed 2007-10-14
$245,000
CentralOregon
Operating Expense: 12400
Building Area Total: 2263
Building Exterior Type: T111Siding
Foundation Details: ConcretePerimeter
Property Age: 72
Property Condition: Existing
Roof: Composition
Levels or Stories: 1
Water Source: PublicWater
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.