NOT LISTED FOR SALE

1018 Pearson St Ferndale, MI 48220

Estimated Value: $310,000 - $454,276

4 Beds
2 Baths
1,750 Sq Ft
$221/Sq Ft Est. Value

Last Sold June 22, 2022

Last sale price $250,000 $143 Per Sq Ft

Est. 55% increase in value since last sale

Current estimated payment $2,994/month

17 Days on Market

Highlights

  • Colonial Architecture
  • Forced Air Heating and Cooling System
  • 2 Car Garage
  • Covered patio or porch

About This Home

As of June 2022

***INVESTOR SPECIAL**** Nice Duplex-needs work, but lots of potential. Projected Gross income 36,000+. Two units with 2 Bedrooms & 1 full bath. First floor unit with approx 1100 Sqft & second floor unit approx 650 Sqft. Each unit has its own meter, furnace & hot water tank, first floor unit has central air. Both furnaces & hot water tanks are newer. Great Investment opportunity! Fixer-upper 1750 sqft, Possibly also can be turned into single family home with right touch.

Last Agent to Sell the Property

Randall Wolber

Simple Fee Listings License #6501413722 Listed on: 04/30/2022

Last Buyer's Agent

Johanna Walker

O'Connor Realty License #RCO-6501384796

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1928

Lot Details

  • 5,227 Sq Ft Lot
  • Lot Dimensions are 40.00x128.00

Parking

  • 2 Car Garage

Home Design

  • Duplex
  • Colonial Architecture
  • Brick Exterior Construction
  • Block Foundation
  • Asphalt Roof

Interior Spaces

  • 2 Full Bathrooms
  • 1,750 Sq Ft Home
  • 2-Story Property
  • Unfinished Basement

Outdoor Features

  • Covered patio or porch

Utilities

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

Listing and Financial Details

  • Assessor Parcel Number 2533276026

Community Details

Overview

  • 2 Units
  • Ridgeway Sub Subdivision

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,063

Year Built

Built in 1928

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Colonial, Duplex
  • Architecture Level: 2 Story
  • Year Built: 1928
  • State Equalized Value: 108090.0000
  • Pets Allowed: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Total Bathrooms: 2.00
  • Full Bathrooms: 2
  • Basement: Yes
  • Basement Type: Unfinished
  • Sq Ft Combined: 1750
  • Total Sq Ft: 1750
  • Sq Ft Total Bsmt: 1000

Exterior Features

  • Roof Material: Asphalt
  • Foundation Details: Basement
  • Construction Materials: Aluminum, Brick
  • Foundation Materials: Block
  • Frontage Feet: 40
  • Porch Type: Porch - Covered, Porch
  • Road Frontage Type: Paved

Garage/Parking

  • Garage: Yes
  • MF Parking: Garages
  • Total Parking Spaces: 2

Utilities

  • Heating Fuel: Natural Gas
  • Cooling: Central Air
  • Heating: Forced Air
  • Sewer: Public Sewer (Sewer-Sanitary)
  • Water Heater Fuel: Natural Gas
  • Water Source: Public (Municipal)

Schools

  • School District: Ferndale

Lot Info

  • Lot Size Area: 0.12
  • Lot Dimensions: 40.00X128.00
  • Parcel Number: 2533276026
  • Zone Conform: Yes
  • Zoning: Residential
  • Percent Homestead Exempt: Yes

Rental Info

  • Monthly Rental Income: 3000

Tax Info

  • Tax Amount Summer: 2969.0000
  • Tax Amount Winter: 94.0000
  • Total Tax: 3063.0000
  • Taxable Value: 51040.0000

Multi Family

  • Gross Scheduled Income: 36000.00
  • Number Of Units Total: 2
  • Unit Count: 2
  • Number of Two Bedroom Units: 2

MLS Schools

  • School District: Ferndale

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 30, 2022
Closed on
Jun 22, 2022
Sold by
Giuseppe Mainella
Bought by
Costello Daniel G and Costello Elina W
Seller's Agent
Randall Wolber
Simple Fee Listings
Buyer's Agent
Johanna Walker
O'Connor Realty
List Price
$275,000
Sold Price
$250,000
Premium/Discount to List
-$25,000
-9.09%
Total Days on Market
17
Current Estimated Value
$386,819

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$136,819
Avg. Annual Appreciation
16.01%
Original Mortgage
$187,500
Outstanding Balance
$179,948
Interest Rate
5.3%
Mortgage Type
New Conventional
Estimated Equity
$206,871

Purchase Details

Closed on
Apr 13, 2022
Sold by
Donald Alexander
Bought by
Mainella Giuseppe and Mainella Anita
Source: Public Records

Similar Homes in Ferndale, MI

  • 475 W Breckenridge St, Ferndale, MI 48220

    $339,900

    • 4 Beds
    • 2 Baths
    • 1,911 Sq Ft
    • 475 W Breckenridge St
    • Ferndale, MI

    Fantastic opportunity to own a versatile multifamily home just steps from downtown Ferndale! A welcoming covered front porch invites you in, while the upstairs unit offers both front and back balconies for enjoying the outdoors. The spacious entry-level unit features three bedrooms and one full bath with bright living and dining spaces. Upstairs, the second unit provides two bedrooms, one full

    Jim Shaffer Good Company

    Section Image
  • 432 W Cambourne St, Ferndale, MI 48220

    $387,000

    • 3 Beds
    • 2.5 Baths
    • 1,509 Sq Ft
    • 432 W Cambourne St
    • Ferndale, MI

    The seller is in receipt of multiple offers. All best offers should be submitted by 12:00PM (Noon) on Monday May 19, 2025. Opportunity & Options abound with this Immaculate Brick Home located in NW Ferndale - a short walk to downtown! Perfect Income - Producing property: Rent both units, live in one and rent the other, OR like the current owner, live in as a single family residence. Owner of

    Robert Campbell Max Broock, REALTORS®-Birmingham

    Section Image
  • 286 Withington St, Ferndale, MI 48220

    $379,900

    • 4 Beds
    • 2 Baths
    • 1,602 Sq Ft
    • 286 Withington St
    • Ferndale, MI

    Highly versatile 4-bedroom, 2-bathroom residence offering an exceptional opportunity for both single-Family, or Muti-Family living. This charming home boasts inviting curb appeal, complete with well-maintained landscaping, and a spacious two-car garage. The interior features a flexible layout designed for modern living, showcasing durable tiled flooring on the second level, a well-appointed

    Cole Valentine Expert Realty Solutions Inc

    Section Image

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
Costello Daniel G $250,000 None Listed On Document
Mainella Giuseppe $200,000 None Listed On Document
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Costello Daniel G $187,500
Previous Owner Alexander James B $65,800
Previous Owner Alexander James B $40,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/22/2022 06/22/22 Sold $250,000 -2.0% $143 / Sq Ft
05/18/2022 05/18/22 Pending -- -- --
05/14/2022 05/14/22 Price Changed $255,000 -7.3% $146 / Sq Ft
04/30/2022 04/30/22 For Sale $275,000 -- $157 / Sq Ft
Source: Realcomp

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
2024 $11,308 $218,440 $0 $0
2023 $9,248 $131,980 $0 $0
2022 $3,045 $112,580 $0 $0
2021 $3,063 $108,090 $0 $0
2020 $2,909 $106,830 $0 $0
2019 $2,952 $101,130 $0 $0
2018 $2,961 $82,570 $0 $0
2017 $2,924 $83,310 $0 $0
2016 $2,888 $80,230 $0 $0
2015 -- $77,100 $0 $0
2014 -- $67,240 $0 $0
2011 -- $51,350 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
See All Agents

Map

Source: Realcomp

MLS Number: 2220031557

Realcomp

APN: 25-33-276-026