tomo logo

$230,000

Beds
4
Baths
1.5
sq ft
1,120

130 Madison Dr, Newark, DE 19711

130 Madison Dr

NEWARK, DE 19711

  • 4 days on market
    • Open house Oct 05
Opportunity knocks! This west Newark townhome is an income producing rental property in great condition. Hardwood floors in the living room, dining room and bedrooms. Three bedrooms and full bath upstairs. Partially finished basement with 4th BR or den and half bath. Egress from the basement to the parking area behind the home. Valid City of Newark permit transfers with ownership. Passed inspection by the city in September 2024. Tenant in place until July 31st, 2025. New owner to assume lease. Lease is for $1,675 per month. New heat pump in 2019 (oil heater was removed). As a courtesy to the tenant, showing times are restricted to Friday 4-7 and Saturday 12-3. By appointment only. Photos are from when property was not occupied.

Details

Property type

Townhouse

Est. home value

$240,361

Lot size

1,742 sq ft

Price per sq ft

$206

Year built

1954

Annual property taxes

$1,773

HOA

No

Price History

10/04/2024
Bright

Bright #DENC2069342

Listed
$230,000
+85.48%
03/31/2021
Bright

Bright #DENC520824

Sold
$124,000

Schools & Community

Elementary school: 

DOWNES

Middle school: 

SHUE-MEDILL

High school: 

NEWARK

School district: 

CHRISTINA

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$125,956
Asking price
$230,000
Closing costs (~8% of asking)
-$18,400
Est. remaining loan balance
-$85,644
Cash to seller
$125,956

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Residential Mortgage Services

Loan start date

March 2021

Original loan amount

$93,000

Est. remaining balance

$85,644

Interest rate

2.73%

Loan type

New Conventional, 30 year

Seller

Prasanth Potireddy and Sri Pavana V Sanikommu

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 10/05/2024 at 10:25 AM

Listing updated: 10/04/2024 at 3:46 PM

Listed by: David M Landon, Patterson-Schwartz-Newark Phone #: (302) 733-7000

MLS: Bright #DENC2069342

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