Wisdom and South Central Wisconsin Real Estate information

Posts tagged ‘sun prairie investment property’

Some Great Deals Have Popped up on Larger 2 Stories in Sun Prairie

The market in the city of Sun Prairie for 2 story homes between 1,900 and 2,800 sq. ft. above grade with finished basements between 8 and 35 years of age there is 9 months of inventory. The average sale price was $282,193 and the median sale price was $283,000. The average list price is $298,117 and the median list price is $299,000. The average days on market is 119 and the median days on market was 66 days. The odds of selling a home in this market is 11%. Sales ranged from $210,000 to $388,500 and current active listings range from $207,500 to $459,900.  Some of these homes were heavily discounted and produced instant equity. If you are thinking of selling you will have to price it competitively. If you are thinking of flipping, it may be a good market to check out for deals with a possible return.

Advertisements

Tough Market for 4 Unit Rental Properties in Sun Prairie

Tight lending requirements have hurt investment rental propertie sales over the last few years with only the best cash flow properties selling. Property values as well as sales in the area appear to be relatively stable. Per the South Central MLS, in Dane County there have only been 7 sales of 4 unit rentals under 30 years of age in the last year with a median sale price of $300,000. There is 55 months of inventory of 4 units under 30 years of age in Dane County with a 1% odds of selling in the 1st month. In Sun Prairie there have been 4 sales ranging from $225,000 to $345,000. The average sale price was $283,875 the median sale price was $282,500. There is a large gap between sales and listings with listings ranging from $$350,000 to $480,000. The average list price is $383,399 and the median list price is $379,900. There is 27 months of inventory 4 units under 30 years of age in Sun Prairie. 25% of sales have been bank owned properties. There currently are no bank owned properties listed for sale. 11% of active listings are short sales (1). Investment properties often sell by word of mouth or through area investment clubs were owners are looking to increase tax deductions with higher depreciation deductions by tax deferred exchanges.

Tag Cloud