NOT LISTED FOR SALE

1053 Martin Luther King Junior St SE Grand Rapids, MI 49507

Baxter Neighborhood

Estimated Value: $281,000 - $357,138

-- Bed
-- Bath
-- Sq Ft
5,401 Sq Ft Lot

Last Sold April 28, 2023

Last sale price $311,500

Est. 3% increase in value since last sale

Current estimated payment $2,233/month

15 Days on Market

About This Home

As of April 2023

Great opportunity to own a fully occupied and professionally managed 3-unit with great tenants in Grand Rapids. The 2 upper units are both 1 bed 1 bath and the lower unit is a large 2 bed 1 bath that retained a lot of its 1920's charm with high ceilings, ornate trim, and original built ins. The property does come with a functioning washer and dryer available in the lower level for the tenants. Showings are available only on Saturdays and Sundays from 1:00pm to 5:00 pm.

Last Agent to Sell the Property

Clay Snider

Compass Realty Services License #6501409496 Listed on: 02/27/2023

Compass Realty Services

Last Buyer's Agent

James Hocking

Keller Williams GR North (Main) License #6501429683

Keller Williams GR North (Main)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,154

Year Built

  • Built in 1922

Lot Details

  • 5,401 Sq Ft Lot
  • Lot Dimensions are 40x135

Parking

  • 3 Parking Spaces

Home Design

  • Vinyl Siding

Basement

  • Basement Fills Entire Space Under The House

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • High Speed Internet
  • Phone Connected
  • Cable TV Available

Community Details

  • 3 Units

Listing and Financial Details

  • The owner pays for water, gas

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,154

Year Built

Built in 1922

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1922
  • Location Property Info:Property Sub-Type: 2 to 4 Units
  • General Property Info:New Construction2: No
  • General Property Info:Lot Dimensions: 40x135
  • General Property Info:Waterfront3: No
  • General Property Info:Basement: Yes
  • Tax Info:Annual Property Tax: 5154.23
  • Tax Info:Zoning3: Residential Imp
  • General Property Info:Total _pound_ Units: 3
  • General Property Info:Total _pound_ Bldgs: 1.0
  • 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
  • Util Avail at Street:Broadband: Yes
  • Util Avail at Street:Cable2: Yes
  • Util Avail at Street:Telephone Line2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Basement

Exterior Features

  • List Price: 305000.0
  • Number of Buildings: 1
  • Waterfront: No
  • Exterior Material:Vinyl Siding: Yes
  • Access Feat:Accessibility Features2: No

Garage/Parking

  • Total Parking Spaces: 3.0
  • General Property Info:Total Parking Spaces: 3.0

Utilities

  • Heating: Forced Air, Natural Gas
  • Heating: Yes
  • Utilities: Natural Gas Connected, Cable Connected, Telephone Line, Public Water, Public Sewer, Broadband
  • Water Source: Public

Lot Info

  • Lot Size Acres: 0.12
  • Lot Size Area: 0.12
  • Lot Size Sq Ft: 5401.0
  • Zoning Description: Residential Imp
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Water, Gas

Multi Family

  • Number of Units Total: 3

Tax Info

  • Tax Annual Amount: 5154.23
  • Tax Year: 2022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 27, 2023
Closed on
Apr 28, 2023
Sold by
1053 Franklin Llc
Bought by
Gibbs Gypsy Meadows
Seller's Agent
Clay Snider
Compass Realty Services
Buyer's Agent
James Hocking
Keller Williams GR North (Main)
List Price
$305,000
Sold Price
$311,500
Premium/Discount to List
$6,500
2.13%
Views
19
Current Estimated Value
$321,424

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$9,924
Avg. Annual Appreciation
2.16%
Original Mortgage
$305,758
Outstanding Balance
$297,627
Interest Rate
6.42%
Mortgage Type
FHA
Estimated Equity
$29,408

Purchase Details

Closed on
Jan 18, 2022
Sold by
Nr Rental Properties Llc
Bought by
Shoup Stephen

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$206,250
Interest Rate
3.11%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 4, 2021
Sold by
Avenue Development Group Llc
Bought by
Nr Rental Properites Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$697,500
Interest Rate
2.9%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 18, 2020
Sold by
Avenue Development Group Llc
Bought by
Nr Rental Properties Llc

Purchase Details

Closed on
Dec 11, 2017
Sold by
Kent County Land Bank Authority
Bought by
Avenue Development Group Llc

Purchase Details

Closed on
Jul 27, 2017
Sold by
City Of Grand Rapids
Bought by
Kent County Land Bank Aurthor

Purchase Details

Closed on
Jul 12, 2017
Sold by
Parrish Kenneth D
Bought by
The City Of Grand Rapids

Purchase Details

Closed on
Jul 21, 2006
Sold by
Winters Velmer L
Bought by
The Velmer Louise Winters Living Trust

Purchase Details

Closed on
Jul 2, 1984
Sold by
Winters William L
Bought by
Winters Velmer Louise Trust
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
Gibbs Gypsy Meadows $311,500 None Listed On Document
Shoup Stephen $285,000 Chicago Title
Nr Rental Properites Llc $835,500 Chicago Title Of Mi Inc
Nr Rental Properties Llc -- None Available
Avenue Development Group Llc $45,000 None Available
Kent County Land Bank Aurthor -- None Available
The City Of Grand Rapids $13,355 None Available
The Velmer Louise Winters Living Trust -- None Available
Winters Velmer Louise Trust -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Gibbs Gypsy Meadows $305,758
Previous Owner Shoup Stephen $206,250
Previous Owner Nr Rental Properites Llc $697,500
Closed Nr Rental Properties Llc $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/28/2023 04/28/23 Sold $311,500 +2.1% --
03/14/2023 03/14/23 Pending -- -- --
02/27/2023 02/27/23 For Sale $305,000 -- --
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 $5,692 $143,400 $0 $0
2024 $5,692 $129,700 $0 $0
2023 $5,129 $111,900 $0 $0
2022 $5,154 $99,400 $0 $0
2021 $5,141 $98,500 $0 $0
2020 $3,005 $82,500 $0 $0
2019 $3,076 $63,100 $0 $0
2018 $2,982 $56,300 $0 $0
2017 $1,460 $42,300 $0 $0
2016 $2,013 $37,300 $0 $0
2015 $2,118 $37,300 $0 $0
2013 -- $36,900 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2023

    Clay Snider

    Compass Realty Services

    Section Image
  • James Hocking

    Buyer's Agent in 2023

    James Hocking

    Keller Williams GR North (Main)

    (616) 369-9207

    1 in this area

    152 Total Sales

    Section Image
  • Mike Smallegan

    Buyer Co-Listing Agent in 2023

    Mike Smallegan

    Keller Williams GR North (Main)

    (616) 275-5938

    10 in this area

    1,119 Total Sales

    Section Image
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 23005743

Southwestern Michigan Association of REALTORS®

APN: 41-14-32-183-029

Michigan Kent County Grand Rapids 49506 Baxter

1053 Martin Luther King Junior St SE, Grand Rapids, MI

This home is located at 1053 Martin Luther King Junior St SE, Grand Rapids, MI 49507 since 27 February 2023 and is currently estimated at $327,035. This property was built in 1922. 1053 Martin Luther King Junior St 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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