NOT LISTED FOR SALE

1025 Madison Ave SE Grand Rapids, MI 49507

Southeast Community Association Neighborhood

Estimated Value: $236,000 - $272,755

5 Beds
2 Baths
-- Sq Ft
5,619 Sq Ft Lot

Last Sold August 05, 2022

Last sale price $230,000

Est. 10% increase in value since last sale

Current estimated payment $1,733/month

28 Days on Market

About This Home

As of August 2022

Showings Available Saturday 10a-12:30p; Monday 5p-7p, Thursday 9a-11a. Great investment opportunity. This 2 unit offers updated finishes and mechanicals. Main level unit is 3 bedrooms, 1 full bath with laundry in the unit. High ceilings, wood floors, separate access to the basement. Off street parking and a large back yard. Current rent $1195; occupied through 8/1/22. Certificate of Compliance through 2/27/23. Upper unit is occupied, $1300 and is month to month. It has 2 bedrooms, 1 bath and laundry in unit.

Last Agent to Sell the Property

Tanya Craig

Keller Williams GR East License #6502364151 Listed on: 06/27/2022

Keller Williams GR East

Last Buyer's Agent

Yolanda Moumouni

City2Shore Real Estate (GR) License #6501443782

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $2,010

Year Built

  • Built in 1900

Lot Details

  • 5,619 Sq Ft Lot
  • The property's road front is unimproved

Parking

  • 2 Parking Spaces

Home Design

  • Composition Roof

Basement

  • Michigan Basement

Utilities

  • No Cooling
  • Forced Air Heating System
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for electricity, trash collection, gas
  • The owner pays for water, sewer

Community Details

Overview

  • 2 Units

Building Details

  • Operating Expense $2,105
  • Gross Income $11,925
  • Net Operating Income $9,820

Property Details

Home Type

Apartment

Est. Annual Taxes

$2,010

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1900
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Michigan Basement

Exterior Features

  • List Price: 225000.0
  • Lot Features: Sidewalk
  • Number of Buildings: 1
  • Road Surface Type: Unimproved
  • Roof: Composition

Garage/Parking

  • Total Parking Spaces: 2.0

Utilities

  • Cooling: None
  • Cooling: No
  • Heating: Forced Air
  • Heating: Yes
  • Utilities: Natural Gas Connected
  • Water Source: Public

Lot Info

  • Lot Size Acres: 0.13
  • Lot Size Area: 0.13
  • Lot Size Sq Ft: 5619.0
  • Zoning Description: residential
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Water, Sewer
  • Tenant Pays: Electricity, Trash Collection, Gas

Multi Family

  • Gross Income: 11925.0
  • Net Operating Income: 9820.0
  • Number of Units Total: 2
  • Operating Expense: 2105.0

Tax Info

  • Tax Annual Amount: 2009.87
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 27, 2022
Closed on
Sep 23, 2022
Sold by
Moumouni Illiassou
Bought by
1025 Madison Ave Llc
Seller's Agent
Tanya Craig
Keller Williams GR East
Buyer's Agent
Yolanda Moumouni
City2Shore Real Estate (GR)
List Price
$225,000
Sold Price
$230,000
Premium/Discount to List
$5,000
2.22%
Current Estimated Value
$252,939

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$22,939
Avg. Annual Appreciation
3.13%
Original Mortgage
$172,500
Outstanding Balance
$165,595
Interest Rate
5.7%
Mortgage Type
New Conventional
Estimated Equity
$87,344

Purchase Details

Listed on
Jun 27, 2022
Closed on
Aug 10, 2022
Sold by
Yenokida Cameron G
Bought by
Moumouni Illiassou
Seller's Agent
Tanya Craig
Keller Williams GR East
Buyer's Agent
Yolanda Moumouni
City2Shore Real Estate (GR)
List Price
$225,000
Sold Price
$230,000
Premium/Discount to List
$5,000
2.22%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$172,500
Outstanding Balance
$165,595
Interest Rate
5.7%
Mortgage Type
New Conventional
Estimated Equity
$87,344

Purchase Details

Listed on
Mar 3, 2017
Closed on
Apr 14, 2017
Sold by
Bullen Reandy
Bought by
Yenokida Cameron G
Seller's Agent
Tim VandenToorn
United Realty Services LLC
Buyer's Agent
Allison Bok
Keller Williams GR North (Main)
List Price
$144,900
Sold Price
$143,500
Premium/Discount to List
-$1,400
-0.97%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.29%
Original Mortgage
$106,500
Interest Rate
4.21%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 14, 2016
Sold by
Ramos Oscar and Ramos Maria
Bought by
Bullen Randy

Purchase Details

Listed on
Dec 13, 2014
Closed on
Dec 18, 2014
Sold by
Chalmers Cary and Chalmers Carrie
Bought by
Ramos Oscar
Seller's Agent
Donald Feikema
Best Homes of Michigan LLC
Buyer's Agent
Eric VandeBunte
Century 21 Affiliated - I
List Price
$17,900
Sold Price
$14,500
Premium/Discount to List
-$3,400
-18.99%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
30.56%

Purchase Details

Closed on
Jun 26, 2012
Sold by
Invesco 2 Llc
Bought by
Chalmers Cary

Purchase Details

Closed on
Sep 11, 2011
Sold by
Wierda Andrew
Bought by
Invesco 2 Llc

Purchase Details

Closed on
Aug 25, 2010
Sold by
Parrish Kenneth D
Bought by
Grand Rapids Equity Partners 3 Llc

Purchase Details

Closed on
Aug 13, 2007
Sold by
Parrish Kenneth D
Bought by
Silverwood Properties Llc

Purchase Details

Closed on
Oct 26, 2004
Sold by
Pacheco Helario
Bought by
Castillo Gilberta

Purchase Details

Closed on
Nov 27, 1996
Bought by
Chalmers Pacheco H and Chalmers Cary

Purchase Details

Closed on
Jan 30, 1990

Purchase Details

Closed on
Jan 8, 1990
Sold by
Palmer Palmer J J and Palmer Jackson D
Bought by
Chalmers Cary

Purchase Details

Closed on
Jan 1, 1989
Sold by
Way Way E E and Way T
Bought by
Chalmers Cary
Source: Public Records

Range of Values:

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Average Value
Not Available
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
1025 Madison Ave Llc $230,000 --
Moumouni Illiassou $230,000 None Listed On Document
Yenokida Cameron G $154,000 Essential Title Agency Llc
Bullen Randy $25,500 Attorney
Ramos Oscar $14,500 First American Title Ins Co
Chalmers Cary -- None Available
Invesco 2 Llc -- None Available
Grand Rapids Equity Partners 3 Llc $13,750 None Available
Silverwood Properties Llc $21,000 None Available
Castillo Gilberta -- --
Chalmers Pacheco H -- --
-- -- --
Chalmers Cary -- --
Chalmers Cary $25,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Moumouni Illiassou $172,500
Previous Owner Yenokida Cameron G $106,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/05/2022 08/05/22 Sold $230,000 +2.2% --
07/08/2022 07/08/22 Pending -- -- --
06/27/2022 06/27/22 For Sale $225,000 0.0% --
06/11/2022 06/11/22 Pending -- -- --
06/10/2022 06/10/22 For Sale $225,000 +56.8% --
04/14/2017 04/14/17 Sold $143,500 -1.0% --
03/06/2017 03/06/17 Pending -- -- --
03/03/2017 03/03/17 For Sale $144,900 +899.3% --
12/18/2014 12/18/14 Sold $14,500 -19.0% --
12/13/2014 12/13/14 For Sale $17,900 -- --
12/12/2014 12/12/14 Pending -- -- --
Source: Southwestern Michigan 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 $4,285 $99,700 $0 $0
2024 $4,285 $91,700 $0 $0
2023 $4,253 $81,800 $0 $0
2022 $2,063 $67,900 $0 $0
2021 $2,010 $61,200 $0 $0
2020 $1,943 $52,300 $0 $0
2019 $1,989 $43,700 $0 $0
2018 $1,928 $36,400 $0 $0
2017 $1,672 $28,300 $0 $0
2016 $1,373 $27,100 $0 $0
2015 $1,385 $27,100 $0 $0
2013 -- $25,900 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Tanya Craig

    Seller's Agent in 2022

    Tanya Craig

    Keller Williams GR East

    (616) 813-2946

    3 in this area

    170 Total Sales

    Tanya Craig
    Section Image

  • Y

    Buyer's Agent in 2022

    Yolanda Moumouni

    City2Shore Real Estate (GR)

    (616) 325-1310

    2 in this area

    5 Total Sales

    Yolanda Moumouni
    Section Image
  • Tim VandenToorn

    Seller's Agent in 2017

    Tim VandenToorn

    United Realty Services LLC

    (616) 965-2300

    3 in this area

    97 Total Sales

    Tim VandenToorn
    Section Image

  • A

    Buyer's Agent in 2017

    Allison Bok

    Keller Williams GR North (Main)

    (616) 634-4799

    26 Total Sales

    Allison Bok
    Section Image

  • D

    Seller's Agent in 2014

    Donald Feikema

    Best Homes of Michigan LLC

    (616) 534-2200

    21 Total Sales

    Donald Feikema
    Section Image

  • E

    Buyer's Agent in 2014

    Eric VandeBunte

    Century 21 Affiliated - I

See All Agents

Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 22023260

Southwestern Michigan Association of REALTORS®

APN: 41-14-31-379-035

Michigan Kent County Grand Rapids 49507 Southeast Community Association

1025 Madison Ave SE, Grand Rapids, MI

This home is located at 1025 Madison Ave SE, Grand Rapids, MI 49507 since 27 June 2022 and is currently estimated at $252,939. This property was built in 1900. 1025 Madison Ave SE is a home located in Kent County with nearby schools including Campus Elementary School, Alger Middle School, and Ottawa Hills High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Southwestern Michigan Association of REALTORS® Information is deemed reliable but not guaranteed.
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