NOT LISTED FOR SALE

1013 Lilac Ave East Lansing, MI 48823

Downtown East Lansing Neighborhood

Estimated Value: $256,206 - $300,000

2 Beds
3 Baths
1,350 Sq Ft
$208/Sq Ft Est. Value

Last Sold December 27, 2019

Last sale price $196,000 $145 Per Sq Ft

Est. 43% increase in value since last sale

Current estimated payment $1,895/month

40 Days on Market

Highlights

  • Cape Cod Architecture
  • Corner Lot
  • Forced Air Heating System
  • Glencairn School Rated A
  • 5 Car Detached Garage

About This Home

As of December 2019

This is a great opportunity to own a very profitable rental property in a great neighborhood close to Spartan Stadium and MSU. The house is made of two units. 1013 LIlac and 906 Narcissus. This property has a class 10 rental license for 5 tenants. This license is one that the city does not give to new properties any longer. Appliances stay with property. Lease signed for Fall 220. Tenant pays gas/electric

Last Agent to Sell the Property

Korey Rowlson

Exit Realty 1st License #6501412044 Listed on: 10/17/2019

Exit Realty 1st

Last Buyer's Agent

HBB Realtors HBB Realtors

RE/MAX Real Estate Professionals License #6506038563

RE/MAX Real Estate Professionals

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1936

Lot Details

  • 6,534 Sq Ft Lot
  • Lot Dimensions are 72x92
  • Corner Lot

Home Design

  • 1,350 Sq Ft Home
  • Cape Cod Architecture
  • Shingle Roof
  • Vinyl Siding

Basement

  • Basement Fills Entire Space Under The House
  • Natural lighting in basement

Parking

  • 5 Car Detached Garage
  • Stone Driveway
  • Gravel Driveway

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Gas Water Heater

Listing and Financial Details

  • Total Actual Rent $31,500

Community Details

Overview

  • 2 Units
  • Lilac Lawn Subdivision

Building Details

  • Insurance Expense $960
  • Other Expense $96
  • Water Sewer Expense $900
  • New Taxes Expense $7,305
  • Operating Expense $9,260
  • Net Operating Income $22,240

Property Details

Home Type

Multi-Family

Year Built

Built in 1936

Lot Details

0

Listing Details

  • Gross Rent: 31500.0
  • Miscellaneous: 96.0
  • Net Income: 22240.0
  • Total Expense: 9260.0
  • Water Sewer Expenses: 900.0
  • Misc Business Info Parking Surface: Gravel
  • Misc Business Info Roof Type: Shingle
  • Tax Year: 2017
  • Year Built: 1936
  • Lot Size Acres: 0.15
  • Lot Size: 72x92
  • Subdivision Name: Lilac Lawn
  • Above Grade Finished Sq Ft: 1350.0
  • Architectural Style: Cape Cod
  • General Property Info:Lot Size Dimensions: 72x92
  • General Property Info:Above Grade Finished Area: 1350.0
  • Sewer:Public Sewer: Yes
  • Roof:Shingle: Yes
  • Architectural Style:Cape Cod: Yes
  • Exterior:Vinyl Siding: Yes
  • Tax Info:Taxes2: 7598.0
  • Tax Info:Zoning3: Residential
  • Water Heater:Gas Water Heater2: Yes
  • General Property Info:Building 1 Description: Cape Cod
  • General Property Info:_pound_ of Units: 2
  • Parking Features:Stone5: Yes
  • Annual Inc Expense:Insurance4: 960.0
  • Annual Inc Expense:Tax Expense2: 7304.9
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Daylight, Full
  • Heating: Forced Air, Natural Gas
  • Property Type: Resid/Multi-Family
  • Full Basement: Yes
  • Basement:Daylight: Yes

Exterior Features

  • Roof: Shingle
  • Lot Features: Corner Lot
  • Construction Type: Vinyl Siding
  • Lot Features:Corner Lot: Yes

Garage/Parking

  • Parking Features: Detached, Gravel, Stone
  • Attached Garage: No
  • Parking Features:Gravel2: Yes
  • Parking Features:Detached: Yes
  • General Property Info:Parking Total: 5

Utilities

  • Sewer: Public Sewer
  • Water Source: Public
  • Heating Yn: Yes
  • Heating:Forced Air: Yes
  • Heating:Natural Gas: Yes

Schools

  • Junior High Dist: East Lansing

Lot Info

  • Lot Size Sq Ft: 6534.0
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Carrier Route: 5120

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 17, 2019
Closed on
Dec 27, 2019
Sold by
Mestdagh Damon
Bought by
Erick Michael L and Baldas Tresevgene
Seller's Agent
Korey Rowlson
Exit Realty 1st
Buyer's Agent
HBB Realtors HBB Realtors
RE/MAX Real Estate Professionals
List Price
$239,900
Sold Price
$196,000
Premium/Discount to List
-$43,900
-18.3%
Current Estimated Value
$280,302

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$84,302
Avg. Annual Appreciation
6.49%
Original Mortgage
$147,000
Outstanding Balance
$101,281
Interest Rate
3.6%
Mortgage Type
New Conventional
Estimated Equity
$179,021

Purchase Details

Listed on
Apr 11, 2016
Closed on
Jun 20, 2016
Sold by
Huff Ralph J and Huff Cynthia C
Bought by
Mestdagh Damon
Seller's Agent
Gayle Coulter
Coulter Real Estate
Buyer's Agent
Gayle Coulter
Coulter Real Estate
List Price
$199,000
Sold Price
$193,000
Premium/Discount to List
-$6,000
-3.02%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
0.44%
Original Mortgage
$164,050
Interest Rate
3.57%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 9, 2004
Sold by
Palmer Suzanne L and Palmer Andrew H
Bought by
Huff Ralph J and Huff Cynthia C

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$138,000
Interest Rate
5%
Mortgage Type
Unknown

Purchase Details

Closed on
Sep 11, 2002
Sold by
Palmer Andrew H
Bought by
Palmer Andrew H and Palmer Suzanne L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$128,500
Interest Rate
6.32%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 26, 2001
Sold by
Hollen Investment Llc
Bought by
Palmer Andrew H

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$125,400
Interest Rate
7.11%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Apr 20, 1998
Sold by
Nuechterlein James M
Bought by
Hollen Investment Llc

Purchase Details

Closed on
Aug 15, 1997
Sold by
Truchan James and Truchan Helen
Bought by
Nuechterlein James M

Purchase Details

Closed on
May 1, 1993

Purchase Details

Closed on
Nov 1, 1985
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Erick Michael L $196,000 Midstate Title Agency Of
Mestdagh Damon $193,000 Fidelity National Title
Huff Ralph J $155,900 Metropolitan Title Company
Palmer Andrew H -- Fidelity National Title Ins
Palmer Andrew H $132,000 First American Title
Hollen Investment Llc -- --
Nuechterlein James M $125,000 --
-- $86,000 --
-- $48,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Erick Michael L $147,000
Previous Owner Mestdagh Damon $164,050
Previous Owner Huff Ralph $138,000
Previous Owner Palmer Andrew H $128,500
Previous Owner Palmer Andrew H $125,400
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/27/2019 12/27/19 Sold $196,000 -12.9% $145 / Sq Ft
11/20/2019 11/20/19 Pending -- -- --
10/29/2019 10/29/19 Price Changed $224,900 -6.3% $167 / Sq Ft
10/11/2019 10/11/19 For Sale $239,900 +24.3% $178 / Sq Ft
06/20/2016 06/20/16 Sold $193,000 -3.0% $143 / Sq Ft
05/17/2016 05/17/16 Pending -- -- --
04/11/2016 04/11/16 For Sale $199,000 -- $147 / Sq Ft
Source: Greater Lansing Association of Realtors®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $4,450 $68,700 $26,300 $42,400
2024 $4,176 $65,700 $24,400 $41,300
2023 $4,176 $60,500 $21,500 $39,000
2022 $3,995 $54,200 $19,500 $34,700
2021 $3,937 $52,800 $17,200 $35,600
2020 $3,945 $52,800 $17,700 $35,100
2019 $7,324 $100,300 $20,100 $80,200
2018 $7,795 $97,400 $19,200 $78,200
2017 $7,598 $96,400 $21,700 $74,700
2016 -- $96,400 $21,500 $74,900
2015 -- $89,300 $41,606 $47,694
2014 -- $89,300 $41,309 $47,991
Source: Public Records

Agents Affiliated with this Home

  • K

    Seller's Agent in 2019

    Korey Rowlson

    Exit Realty 1st

    (517) 796-9300

    1 Total Sale

    Korey Rowlson
    Section Image

  • H

    Buyer's Agent in 2019

    HBB Realtors

    Coldwell Banker Realty -Stadium

  • Gayle Coulter

    Seller's Agent in 2016

    Gayle Coulter

    Coulter Real Estate

    (810) 343-4537

    135 Total Sales

    Gayle Coulter
    Section Image
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Map

Source: Greater Lansing Association of Realtors®

MLS Number: 241817

Greater Lansing Association of Realtors®

APN: 20-01-24-107-008

Michigan Ingham County East Lansing 48823 Downtown East Lansing

1013 Lilac Ave, East Lansing, MI

This home is located at 1013 Lilac Ave, East Lansing, MI 48823 since 17 October 2019 and is currently estimated at $280,302, approximately $207 per square foot. This property was built in 1936. 1013 Lilac Ave is a home located in Ingham County with nearby schools including Glencairn School, MacDonald Middle School, and East Lansing High School.

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