$553,000
SOLD MAR 7, 2025

103 John St Parma, MI 49269

-- Bed
-- Bath
3,456 Sq Ft
1.3 Acres

Recently Sold

$160 Per Sq Ft

1% Above List Price

146 Days on Market

Highlights

  • 3 Fireplaces
  • Forced Air Heating System
  • Level Lot
  • Window Unit Cooling System
  • Baseboard Heating

About This Home

As of March 2025

Located in popular Western School District, this 12 unit property is available for its new owner operator. Current CAP Rate approx. 11%. Growth potential to drive CAP Rate higher. Each building provides four units. Each unit provides living room, kitchen with appliances, two bedrooms, and one bathroom. Ample parking space for all tenants. 8 units updated in the last year. Large yard area for entertaining. Property offers easy access for eastbound and westbound commuters.

Last Agent to Sell the Property

Scott Timms

Coldwell Banker Beiswanger Realty Group License #6501424452 Listed on: 03/06/2025

Last Buyer's Agent

Todd Rowe

Coldwell Banker Beiswanger Realty Group License #6501429570

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1978

Lot Details

  • 1.3 Acre Lot
  • Lot Dimensions are 390x145
  • Level Lot

Home Design

  • Slab Foundation
  • Composition Roof
  • Vinyl Siding

Interior Spaces

  • 3 Fireplaces
  • Laundry in unit

Parking

  • 30 Parking Spaces
  • Gravel Driveway

Accessible Home Design

  • Stepless Entry

Utilities

  • Window Unit Cooling System
  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Window Unit Heating System
  • Baseboard Heating
  • Natural Gas Connected
  • Individual Gas Meter
  • Cable TV Available

Listing and Financial Details

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

Community Details

Overview

  • 3 Buildings
  • 12 Units

Building Details

  • Insurance Expense $2,500
  • Maintenance Expense $3,200
  • Utility Expense $2,100
  • Operating Expense $43,500
  • Gross Income $103,700
  • Net Operating Income $60,200

Property Details

Home Type

Multi-Family

Year Built

Built in 1978

Lot Details

0

Listing Details

  • Property Sub-Type: 5+ Units
  • Property Type: Multi Family
  • New Construction: No
  • Year Built: 1978
  • Location Property Info:Property Sub-Type: 5+ Units
  • General Property Info:New Construction2: No
  • General Property Info:Lot Dimensions: 390x145
  • General Property Info:Waterfront3: No
  • General Property Info:Basement: No
  • Tax Info:Annual Property Tax: 14200.0
  • Tax Info:Zoning3: Commercial
  • General Property Info:Total _pound_ Units: 12
  • General Property Info:Total _pound_ Bldgs: 3.0
  • Roofing:Composition: Yes
  • Heat Type:Forced Air: Yes
  • Heat Source:Natural Gas3: Yes
  • Lot Description:Level: Yes
  • Driveway:Gravel: Yes
  • Substructure:Slab: Yes
  • Air Conditioning:Window Unit(s): Yes
  • Heat Type:Baseboard: Yes
  • Accessibility Feat:No Step Entrance: Yes
  • Extras:Sep Gas Meter: Yes
  • Utilities Attached Electricity Connected: Yes
  • Utilities Attached Natural Gas Connected: Yes
  • Util Avail at Street Cable Available: Yes
  • Sewer:Public Sewer5: Yes
  • Water:Public Water4: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Accessibility Features: No Step Entrance
  • Fireplaces: 3
  • Basement: Slab
  • Basement: No
  • Laundry Features:In Unit: Yes

Exterior Features

  • Construction Materials: Vinyl Siding
  • List Price: 550000.0
  • Lot Features: Level
  • Number of Buildings: 3
  • Road Surface Type: Paved
  • Roof: Other, Composition
  • Waterfront: No
  • Exterior Material:Vinyl Siding: Yes
  • Access Feat:Accessibility Features2: Yes

Garage/Parking

  • Attached Garage: No
  • Parking Features: Driveway, Gravel
  • Total Parking Spaces: 30.0
  • General Property Info:Total Parking Spaces: 30.0

Utilities

  • Cooling: Window Unit(s)
  • Cooling: Yes
  • Heating: Baseboard, Forced Air
  • Heating: Yes
  • Laundry Features: In Unit
  • Utilities: Cable Available, Natural Gas Connected, Electricity Connected
  • Heat Source:Electric2: Yes

Lot Info

  • Lot Size Acres: 1.3
  • Lot Size Area: 1.3
  • Lot Dimensions: 390x145
  • Lot Size Sq Ft: 56628.0
  • Zoning Description: Commercial
  • ResoLotSizeUnits: Acres

Rental Info

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

Multi Family

  • Gross Income: 103700.0
  • Insurance Expense: 2500.0
  • Maintenance Expense: 3200.0
  • Net Operating Income: 60200.0
  • Number of Units Total: 12
  • Operating Expense: 43500.0

Tax Info

  • Tax Annual Amount: 14200.0
  • Tax Year: 2024

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/07/2025 03/07/25 Sold $553,000 +0.5% $160 / Sq Ft
02/05/2025 02/05/25 Pending -- -- --
12/01/2024 12/01/24 Off Market $550,000 -- --
09/12/2024 09/12/24 For Sale $550,000 +34.1% $159 / Sq Ft
05/07/2021 05/07/21 Sold $410,000 +241.7% $119 / Sq Ft
03/10/2021 03/10/21 Pending -- -- --
05/27/2016 05/27/16 Sold $120,000 -- $35 / Sq Ft
03/10/2016 03/10/16 Pending -- -- --
Source: Southwestern Michigan Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Scott Timms

    Seller's Agent in 2025

    Scott Timms

    Coldwell Banker Beiswanger Realty Group

    (517) 817-9517

    163 Total Sales

    Scott Timms
    Section Image
  • Todd Rowe

    Buyer's Agent in 2025

    Todd Rowe

    Coldwell Banker Beiswanger Realty Group

    (517) 795-9226

    87 Total Sales

    Todd Rowe
    Section Image
  • Doug Beiswanger

    Seller's Agent in 2021

    Doug Beiswanger

    Coldwell Banker Beiswanger Realty Group

    (517) 914-9555

    493 Total Sales

    Doug Beiswanger
    Section Image
  • Phil Morgan

    Seller's Agent in 2016

    Phil Morgan

    ERA REARDON REALTY, L.L.C.

    (517) 782-2024

    71 Total Sales

    Phil Morgan
    Section Image
  • Cliff Risner

    Buyer's Agent in 2016

    Cliff Risner

    Executive Brokers Residential and Commercial Real Estate

    (517) 315-4400

    41 Total Sales

    Cliff Risner
    Section Image

  • C

    Buyer's Agent in 2016

    Clifford Risner

    Coldwell Banker Beiswanger Realty Group

See All Agents

Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 24048171

Southwestern Michigan Association of REALTORS®
Michigan Jackson County Parma 49269

103 John St, Parma, MI

This home is located at 103 John St, Parma, MI 49269 and is currently priced at $553,000, approximately $160 per square foot. This property was built in 1978. 103 John St is a home located in Jackson County with nearby schools including Western 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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