5 months on rocket

250 SE Lincoln St, Mcminnville, OR, 97128

$644,000

Home List Price

$7,648*

Closing Credit

0 Baths
2,884 SqFt
$223/SqFt
House

Location

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250 SE Lincoln St, McMinnville$644,000

Buyer Closing Credits

$7,648*

1.25% Loan Amount

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Property Highlights

Home TypeOther
ParkingDriveway, Street Parking
Year Built1903
BasementYes
MLS #24696946
Lot Size0.16 Acres
StatusActive

About 250 SE Lincoln St

Welcome to 250 SE Lincoln Street, a unique apartment complex in beautiful McMinnville, Oregon. A rare public offering of a five-unit apartment building, Lincoln Street Apartments presents an extraordinary opportunity to step into an established complex with strong in-place income (7.3% Cap Rate on current numbers) and proven upside. The property itself consists of five units, spread through one building, originally a primary home built in the early 1900's. While retaining much of its original character, the property has been extensively remodeled and updated throughout the years. Four units have recently been renovated and leased to market, with the remaining unit ripe for a cosmetic renovation and rents to be reset to market rates. The electrical service (including a new main panel and sub-panels) and water heaters (four new electric models) were recently installed. Each unit is billed separately for electric service. Owner pays sewer and water. The property is within just a few blocks from iconic 3rd St. and Linfield University, and is fairly close to schools and parks. Easy drive to McMinnville High School, grocery, retail, employment, and Highways 99 & 18. Square footage of each unit is approximate; buyer to verify. Shown with accepted offer only, please.

Property Details

Property Features

Property Information:

  • Year Built: 1903
  • Stories: 2
  • Living Area: 2,884 SqFt

Listing Office:

  • Office Name: Vintage Realty Northwest, Land Leader
  • Office Phone: (541) 754-7314
  • Listing Agent: Kenneth Marshall, Ashley Lacer

Interior Features

Interior Information:

  • Basement: Yes

Exterior Features

Parking Information:

  • Attached Garage: No
  • Parking: Driveway, Street Parking

Lot Features

Lot Information:

  • Lot: Corner Lot, Level
  • Lot Size: 0.16 Acres

Other

Directions Information:

  • Directions: Turn East on Lincoln off of Hwy 99 (Baker St. going north), then proceed one block

Price Information

Listing Price Info

Price Summary:

  • List Price: $644,000
  • Price Per SqFt: $223/SqFt

Tax Information:

  • Annual Amount: $2,808
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in McMinnville, OR.

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McMinnville, OR

City

Med. Sold Price

$487.9K

Med. Price/SqFt

$287

Avg. Days On Market

44

# of Sold Homes

35

250 SE Lincoln St vs McMinnville

150 DAYS ON ROCKET

+106 Days

$644,000

+$156K More

$223/SqFt

-$65 Less

KEY TAKEAWAY

This property is $156K more than the Median Sold Price and $65/SqFt less than other homes in McMinnville, OR.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: Regional Multiple Listing Service, Inc.
  • MLS Number: #24696946

Listing Office:

  • Office Name: Vintage Realty Northwest, Land Leader
  • Office Phone: (541) 754-7314
  • Listing Agent: Kenneth Marshall, Ashley Lacer

IDXThe content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland, Oregon. Real estate listings held by another brokerage firm are marked with the RMLS logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2024 Regional Multiple Listing Service, Inc. (RMLS™) Portland, Oregon.

The information on this web site 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. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/22/2024, 3:20:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Jun 30, 2017Home Sold
$390,000
Aug 10, 1992Home Sold
$75,000

Tax History

YEARPROP. TAXASSESSMENT
2020$2,808$164,361
2019$2,709$159,574
2018$2,656$154,926

History based on county public records data.

Payment Calculator

$3,282

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,997

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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.

Nearby Schools

school-card-donut-508200
5
/10

  • Newby Elementary School

  • 1125 NW 2nd St

  • 0.62 miles

  • Public District Grades KG-5

school-card-donut-508201
8
/10

  • Memorial Elementary School

  • 501 NW 14th St

  • 0.82 miles

  • Public District Grades KG-5

school-card-donut-508202
4
/10

  • Sue Buel Elementary School

  • 1985 SE Davis St

  • 0.89 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $27,185. The majority of McMinnville, OR residents have income less than $35k annually. The most common type of family is single, no kids. The majority of residents in this area have high school diploma education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 250 SE Lincoln St

What is the listing price of this property?

The listing price of 250 SE Lincoln St property is $644,000.

What type of property is this?

The property 250 SE Lincoln St is a house located in Mcminnville, Oregon, 97128.

Is this property for sale now?

Active Listing: 250 SE Lincoln St is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2020 is $2,808 (source: MLS/based on county public records data).

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

The last sale was on June 30, 2017 for $390,000. (source: MLS/tax record).

What is the square footage of this property?

The property 250 SE Lincoln St is 2,884 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 250 SE Lincoln St is 1903.

Rocket Homes›Oregon›Yamhill County›McMinnville›97128›250 SE Lincoln St

This home is located at 250 SE Lincoln St in Mcminnville, OR and zip code 97128. This 2,884 square foot home, which was built in 1903, sits on a 0.16 acre lot. It has been listed on Rocket Homes since June 24, 2024 and is currently priced at $644,000.

While more than 10 listings in McMinnville, OR in October 2024 were sold above asking price, there were more than 10 listings sold at asking price, and more than 15 were sold below. In October 2024, listings were on the market for 44 days. During the same period, the median list price in this real estate market was $487,993.

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

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