NOT LISTED FOR SALE

1040 Lake Dr SE Grand Rapids, MI 49506

East Hills Neighborhood

Estimated Value: $382,000 - $444,000

-- Bed
-- Bath
-- Sq Ft
5,924 Sq Ft Lot

Last Sold September 23, 2019

Last sale price $170,000

Est. 139% increase in value since last sale

Current estimated payment $2,857/month

3 Days on Market

Highlights

  • Corner Lot: Yes
  • High Speed Internet
  • Wood Siding
  • Forced Air Heating System

About This Home

As of September 2019

3-plex in great location across from Mongiamo's on Lake Dr. Walking distance to both Cherry St/Center of the Universe and Eastown. Tons of off-street parking. Always rents quickly and currently grosses $2,415.00 per month! Excellent cash flow potential.

Last Agent to Sell the Property

Kevin Wright

Qwest Realty Consultants License #6502338611 Listed on: 10/07/2015

Last Buyer's Agent

Jeffrey Shaffer

Bellabay Realty (SW) License #6501383836

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,072

Year Built

  • Built in 1895

Lot Details

  • 5,924 Sq Ft Lot
  • Lot Dimensions are 60.5x89.5x2x20x20x90
  • Corner Lot: Yes

Parking

  • 6 Parking Spaces

Home Design

  • Composition Roof
  • Wood Siding

Basement

  • Basement Fills Entire Space Under The House

Utilities

  • No Cooling
  • Forced Air Heating System
  • Space Heater
  • Heating System Uses Natural Gas
  • High Speed Internet
  • Phone Connected
  • Cable TV Available

Community Details

  • 3 Units

Listing and Financial Details

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

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,072

Year Built

Built in 1895

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1895
  • Location Property Info:Property Sub-Type: 2 to 4 Units
  • General Property Info:New Construction2: No
  • General Property Info:Lot Dimensions: 60.5x89.5x2x20x20x90
  • General Property Info:Waterfront3: No
  • General Property Info:Basement: Yes
  • Tax Info:Annual Property Tax: 3072.15
  • Tax Info:Zoning3: RES
  • General Property Info:Total _pound_ Units: 3
  • General Property Info:Total _pound_ Bldgs: 1.0
  • Roofing:Composition: Yes
  • Heat Type:Forced Air: Yes
  • Substructure:Full: Yes
  • Utilities Attached:Electric4: Yes
  • Heat Source:Natural Gas3: Yes
  • Util Avail at Street:Electric: Yes
  • Util Avail at Street:Natural Gas2: Yes
  • Util Avail at Street:Public Sewer: Yes
  • Util Avail at Street:Public Water: Yes
  • Utilities Attached:Cable: Yes
  • Utilities Attached:Natural Gas: Yes
  • Sewer:Public: Yes
  • Water:Public2: Yes
  • Lot Description:Corner Lot: Yes
  • Util Avail at Street:Broadband: Yes
  • Util Avail at Street:Cable2: Yes
  • Util Avail at Street:Telephone Line2: Yes
  • Utilities Attached:Telephone Line: Yes
  • Heat Type:Space Heater: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Basement

Exterior Features

  • Construction Materials: Wood Siding
  • List Price: 170000.0
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Composition
  • Waterfront: No
  • Access Feat:Accessibility Features2: No
  • Exterior Material:Wood Siding: Yes

Garage/Parking

  • Total Parking Spaces: 6.0
  • General Property Info:Total Parking Spaces: 6.0

Utilities

  • Cooling: None
  • Cooling: No
  • Heating: Space Heater, Forced Air, Natural Gas
  • Heating: Yes
  • Utilities: Telephone Line, Natural Gas Connected, Cable Connected, Public Water, Public Sewer, Broadband
  • Water Source: Public

Lot Info

  • Lot Size Acres: 0.14
  • Lot Size Area: 0.14
  • Lot Size Sq Ft: 5924.0
  • Zoning Description: RES
  • ResoLotSizeUnits: Acres

Rental Info

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

Multi Family

  • Number of Units Total: 3

Tax Info

  • Tax Annual Amount: 3072.15
  • Tax Year: 2014

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 7, 2015
Closed on
Sep 23, 2019
Sold by
Holt Peter T and Kochaney Glen A
Bought by
Boeve Amy and Straayer Betty J
Seller's Agent
Kevin Wright
Qwest Realty Consultants
Buyer's Agent
Jeffrey Shaffer
Bellabay Realty (SW)
List Price
$170,000
Sold Price
$170,000
Current Estimated Value
$406,551

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$236,551
Avg. Annual Appreciation
14.38%
Original Mortgage
$127,500
Outstanding Balance
$112,432
Interest Rate
3.5%
Mortgage Type
New Conventional
Estimated Equity
$263,658

Purchase Details

Closed on
Apr 21, 2005
Sold by
Lake Union Properties Llc
Bought by
Holt Peter T and Kochaney Glen A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$120,000
Interest Rate
1.37%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 28, 2000
Sold by
Hlt and Hlt Kchny
Bought by
Lake Un Pr and Holt Peter T Kochaney Glen A

Purchase Details

Closed on
Apr 14, 1999
Sold by
Holt Rybsk J
Bought by
Holt and Holt Koshney

Purchase Details

Closed on
Aug 14, 1990
Sold by
Rybaski Osbrne
Bought by
Holt Peter T Kochaney Glen A

Purchase Details

Closed on
Oct 27, 1983
Sold by
Kuzma Kuzma D D and Kuzma Smallegan T
Bought by
Holt Peter T Kochaney Glen A
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
Boeve Amy $170,000 Sun Title Agency Of Mi Llc
Holt Peter T -- --
Lake Un Pr -- --
Holt $110,800 --
Holt Peter T Kochaney Glen A $18,600 --
Holt Peter T Kochaney Glen A -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Boeve Amy $127,500
Previous Owner Holt Peter T $60,000
Previous Owner Holt Peter T $55,800
Previous Owner Kochaney Glen A $120,000
Previous Owner Kochaney Glen $117,750
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/23/2019 09/23/19 Sold $170,000 0.0% --
10/10/2015 10/10/15 Pending -- -- --
10/07/2015 10/07/15 For Sale $170,000 -- --
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 $7,704 $193,700 $0 $0
2024 $7,704 $156,400 $0 $0
2023 $6,018 $146,700 $0 $0
2022 $5,352 $148,800 $0 $0
2021 $5,526 $110,800 $0 $0
2020 $4,989 $111,400 $0 $0
2019 $3,468 $95,100 $0 $0
2018 $3,362 $90,900 $0 $0
2017 $6,111 $80,200 $0 $0
2016 $3,634 $69,300 $0 $0
2015 $3,799 $69,300 $0 $0
2013 -- $59,500 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • K

    Seller's Agent in 2019

    Kevin Wright

    Qwest Realty Consultants

    (616) 954-5900

    24 Total Sales

    Section Image

  • J

    Buyer's Agent in 2019

    Jeffrey Shaffer

    Bellabay Realty (SW)

    (616) 690-5229

    9 Total Sales

    Section Image
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 15053748

Southwestern Michigan Association of REALTORS®

APN: 41-14-29-376-011

Michigan Kent County Grand Rapids 49506 East Hills

1040 Lake Dr SE, Grand Rapids, MI

This home is located at 1040 Lake Dr SE, Grand Rapids, MI 49506 since 07 October 2015 and is currently estimated at $406,551. This property was built in 1895. 1040 Lake Dr SE is a home located in Kent County with nearby schools including Martin Luther King Leadership Academy, 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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