tomo logo

$500,000

Beds
3
Baths
1.5
sq ft
1,361

5441 SE Welch Rd, Gresham, OR 97080

5441 SE Welch Rd

Gresham, OR 97080

  • 52 days on market
A tremendous opportunity as a possible investment. Potential for additional dwelling unit(s) as per the guidelines set forth by The City of Gresham. Legislative measures such as HB2001 in 2019 and SB458 in 2021 (SB458 commonly referred to as the Middle Housing Land Division) have expanded housing and division possibilities for residential development applicants in Oregon. According to The City of Gresham this parcel offers the potential for the lot to be divided, and/or the addition of attached or detached ADU, duplexes, triplexes, quadplexes, and/or cottage clusters. Prospective buyers are advised to conduct their own comprehensive due diligence. Step into timeless elegance with this mid-century classic including new windows (2022), heating system (2020), new roof (2021), new kitchen countertops (2024), washer/dryer, (2023) fridge (2023), & dishwasher (2023). Enjoy the coffered ceiling, retro kitchen, and spacious 18X8 utility/mudroom. Generous bedrooms, half bath in garage, and 400 sq ft basement provide ample space. Outside, find a fire pit and nearly half-acre level lot for play and a country feel.

Details

Property type

Single Family Residence

Est. home value

$444,841

Lot size

0.44 acres

Price per sq ft

$368

Year built

1952

Annual property taxes

$4,221.36

Price History

07/03/2024
PortlandOR

PortlandOR #24046460

Listed
$500,000
07/01/2024
PortlandOR

PortlandOR #24046460

Pending
$500,000
05/28/2024
PortlandOR

PortlandOR #24046460

Listed
$500,000

Schools & Community

Neighborhood: 

Kelly Creek

Elementary school: 

Kelly Creek

Middle school: 

Gordon Russell

High school: 

Sam Barlow

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

$207,059
Asking price
$500,000
Closing costs (~8% of asking)
-$40,000
Est. remaining loan balance
-$252,941
Cash to seller
$207,059

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

Seller’s Loan History

Lender

Hoem Mortgage Allaince Llc

Loan start date

December 2020

Original loan amount

$275,000

Est. remaining balance

$252,941

Interest rate

2.8%

Loan type

New Conventional, 30 year

Seller

Adam Felkins and Jamie Felkins

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?

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Status: Active

Tomo last checked: 07/07/2024 at 3:10 PM

Listing updated: 07/03/2024 at 11:08 AM

Listed by: Amy Smith, ERA Freeman & Associates Phone #: (503) 665-3144

MLS: PortlandOR #24046460

PortlandOR logo

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