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Sold - 2315 Brewery Rd.

$85,000 +

Photo of 2315 Brewery Rd., Cross Plains, WI, 53528.

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Address: 2315 Brewery Rd.	City/ST: Cross Plains, WI	Zip Code: 53528
Location: Cross Plains	Property Type: Condo	New or Resale: Resale
Square Footage: 1000	Bedrooms: 2	Bathrooms: 1
MLS# 1571294	Property Tax: 1520	Monthly Rent Estimate: $130

Fantastic two bedroom condo in quiet association! Conveniently located close to parks, shopping, and just minutes from the beltline. This immaculately maintained unit will be hard to beat! Freshly painted, in-unit laundry, all appliances included, fantastic deck perfect for entertaining, low utility bills, and low condo dues. Take advantage of the $8,000 credit! Why rent at this price?!

Last Updated: 1/20/2010 12:55:04 PM

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Style: Garden; Dining: Living-Dining Combo; Kitchen Features: Breakfast bar, Range/oven, Refrigerator, Dishwasher; Parking: 1 car detached garage with opener included, and 1 outdoor space; Condo Management: Unit owners; Condo Fee Includes: Parking, Management, Trash Removal, Snow Removal, Common Area Maintenance, Common Area Insurance, Recreation Facility, Reserve Fund; Fuel: Natural Gas; Heating/Cooling: Forced Air/Central Air; Water/Waste: Municipal Water/Municipal Sewer; Roof: Composition/Fiberglass; Miles to Capitol: 11-19 miles; Terms: Small pets only; Occupancy: At closing, Owner occupied; Interior Features: Wood trim, skylight, private laundry, washer, dryer, water softener included, cable/satellite available, all window coverings; Exterior Features: Deck/Balcony; Common Amenities: Common Green Space;

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Tax Considerations >New 1031 Exchange Rules

One of the most popular "tax deferring" strategies for real estate owners who are selling one property and acquiring another is the use of Section 1031 of the Internal Revenue Code. It is an effective way to defer paying income tax on capital gain generated by the sale of a property when you intend to reinvest the proceeds in a similar, "like-kind" property. Almost any kind of real property is considered "like-kind" with any other real property.

A recently enacted law closes what was considered a loophole in the Section 1031 rules. In some cases, owners of investment real estate have used the 1031 Exchange to swap their investment property for real estate that could be readily converted to an owner-occupied residential property. After the exchange, they made the property into their principal residence, lived in it for a couple of years, then sold it. Now the American Job Creation Act of 2004 has ruled that properties converted from a 1031 exchange property into a residence must be held and used as a principal residence for at least five years to qualify for the tax exemption. Otherwise, the basic tax-deferring benefits of 1031 exchanges remain the same.

Consult your tax advisor for more detailed information.

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Nicole Charles and Associates, REALTOR�, real estate agent and broker for Madison, Middleton and Verona, Wisconsin home listings, property and land for sale - NUMBER1EXPERT

Nicole Charles
Keller Williams Realty
3 Point Pl.., Suite. 100
Madison, WI 53719
608-513-0021
Fax: 608-831-0825
nicolecharles@NUMBER1EXPERT.com

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