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111 E 9th St, Madrid, IA, 50156

$139,900

Home List Price

$1,661*

Closing Credit

3 Bedrooms
3 Full Baths
2,049 SqFt
$68/SqFt
House
Schools Nearby

Location

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111 E 9th St, Madrid$139,900

Buyer Closing Credits

$1,661*

1.25% Loan Amount

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Contact Us Phone Number1 (855) 200-2001

Property Highlights

Home TypeOther
Year Built1885
HeatingForced Air, Natural Gas
BasementYes
MLS #694100
Lot Size0.20 Acres
StatusActive

About 111 E 9th St

Discover the potential of this 3-plex multi-family property in the heart of Madrid. This property sits on a sizable double lot and requires some TLC but has a ton of potential! This property is being sold "As Is. It is perfect for savvy investors or those looking to expand their rental portfolio. This 2-story property features a total of 3 units, with 2 units on the main floor and 1 unit occupying the upper level. Each unit has 1 bedroom and 1 bath. Additionally, one of the lower-level units has a non-conforming bedroom/flex space providing additional square footage. Included in this sale is a. .23 acre lot to the north of the property, providing additional space for potential expansion or development projects. This valuable addition enhances the property's long-term investment appeal. A standout opportunity lies in the potential to increase rent rates, as they have remained the same for many years. This presents a clear pathway to boosting rental income and maximizing the property's profitability, making it an attractive proposition for investors seeking solid returns. Whether you're a seasoned investor or an aspiring property owner eager to kickstart your rental portfolio, this is a great investment!

Property Details

Property Features

Property Information:

  • Architectural Style: Two Story
  • Year Built: 1885
  • Stories: 2
  • Living Area: 2,049 SqFt

Listing Office:

  • Office Name: Iowa Realty Ankeny
  • Office Phone: (515) 453-6054
  • Listing Agent: Jessica Schaffer

Interior Features

Interior Information:

  • Appliances: Refrigerator, Stove
  • Basement: Yes
  • Flooring Type: Carpet, Laminate, Vinyl
  • Interior: Cable TV

Bedroom and Bathroom Information:

  • Full Bathrooms: 3
  • Total Bedroom Count: 3

Lot Features

Lot Information:

  • Lot: Rectangular Lot
  • Lot Size: 0.20 Acres

Utilities

Utilities Information:

  • Heating: Forced Air, Natural Gas

School Info

Assigned Schools Information:

  • Madrid High School, Public District Grades 9-12
  • Madrid Junior High School, Public District Grades 7-8
  • Madrid Elementary School, Public District Grades PK-6

Other

Directions Information:

  • Directions: From Highway 17 turn West onto ninth Street. Property will be on the corner of ninth and Union St. Property is on the north side of the road.

Price Information

Listing Price Info

Price Summary:

  • List Price: $139,900
  • Price Per SqFt: $68/SqFt

Tax Information:

  • Annual Amount: $2,354
  • Tax Year: 2021
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MLS Details

MLS Information:

  • MLS Name: DMAAR
  • MLS Number: #694100

Listing Office:

  • Office Name: Iowa Realty Ankeny
  • Office Phone: (515) 453-6054
  • Listing Agent: Jessica Schaffer

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange of the Des Moines Area Association of Realtors. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright© 2024 Des Moines Area Association of Realtors. All Rights Reserved
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/6/2024, 4:20:34 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

May 14, 2007Home Sold
$27,500

Tax History

YEARPROP. TAXASSESSMENT
2021$2,354$93,353
2020$2,292$82,050
2018$1,974$79,763
2017$1,518$79,763

History based on county public records data.

Payment Calculator

$766

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$486

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-6986087
5
/10

  • Madrid Elementary School

  • 213 W 1st St

  • 0.50 miles

  • Public District Grades PK-6

Middle School

school-card-donut-6986088
6
/10

  • Madrid Junior High School

  • 599 N Kennedy Ave

  • 0.85 miles

  • Public District Grades 7-8

High School

school-card-donut-6986089
7
/10

  • Madrid High School

  • 599 N Kennedy Ave

  • 0.85 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $50,087. Most Boone County, IA residents have annual incomes between $35k-100k. Residents typically live in single, no kids family. Typical level of education for residents in this area is post secondary degree.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 111 E 9th St

What is the listing price of this property?

The listing price of 111 E 9th St property is $139,900.

What type of property is this?

The property 111 E 9th St is a house located in Madrid, Iowa, 50156.

Is this property for sale now?

Active Listing: 111 E 9th St is For Sale (Active/New) which means the seller is accepting offers.

What are the assigned schools for this property?

The assigned schools for 111 E 9th St are:
Madrid Elementary School: GreatSchools Rating 5/10
Madrid Junior High School: GreatSchools Rating 6/10
Madrid High School: GreatSchools Rating 7/10

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $2,354 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on May 14, 2007 for $27,500. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 111 E 9th St has 3 bedrooms and 3 bathrooms.

What is the square footage of this property?

The property 111 E 9th St is 2,049 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 111 E 9th St is 1885.

Rocket Homes›Iowa›Boone County›Madrid›50156›111 E 9th St

This home is located at 111 E 9th St in Madrid, IA and zip code 50156. This 2,049 square foot home, which was built in 1885, sits on a 0.20 acre lot. Features: 3 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since April 26, 2024 and is currently priced at $139,900.

In April 2024 more than 11 listings in Boone County, IA were sold above the asking price. During the same period more than 6 listings were sold at asking price, while more than 12 were sold below. The number of listings in Boone County, IA decreased by 9% between March 2024 and April 2024. The median list price of listings available in April 2024 was $196,895, while the average time on the real estate market was 35 days.

From Rocket Homes Real Estate and based on county public records data.

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