NOT LISTED FOR SALE
6 Beds
2 Baths
-- Sq Ft
2,614 Sq Ft Lot

Last Sold July 23, 2015

Last sale price $535,000

21 Days on Market

Highlights

  • Brownstone
  • 5-minute walk to Noyes Station
  • 1-minute walk to Fireman's Park
  • Orrington Elementary School Rated A

About This Home

As of July 2015

Two Three Bedroom Units that need work but being rented for $4500 ($2250 apiece) with ALL utilities being paid INCLUDING WATER by the tenants. This means a cash on cash return of 7.5%, which when leveraged with a mortgage w 30% down will yield a spectacular return that comes close to 25% year over year.

Last Agent to Sell the Property

Scott Foster

Scott Foster License #471009660 Listed on: 06/16/2015

Last Buyer's Agent

Donna Agnew

@properties Christie's International Real Estate License #475133954

@properties Christie's International Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,091

Year Built

  • Built in 1925

Lot Details

  • 2,614

Home Design

  • Brownstone
  • Brick Exterior Construction
  • Tar and Gravel Roof

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 6 Potential Bedrooms
  • 2 Bathrooms

Unfinished Basement

  • Basement Fills Entire Space Under The House

Utilities

  • Heating System Uses Natural Gas
  • Lake Michigan Water

Community Details

Overview

  • 2 Units

Building Details

  • Gross Income $54,000
  • Net Operating Income $43,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,091

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • ArchitecturalStyle: Brownstone
  • New Construction: No
  • Year Built: 1925
  • Age: 81-90 Years
  • Built Before 1978 (Y/N): Yes
  • General Information: None
  • Rehab (Y/N): No
  • ResoPropertyType: ResidentialIncome
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Total Bathrooms: 2
  • Total Bedrooms: 6
  • Basement Description: Unfinished
  • Below Grade Bedrooms: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator
  • MRD_AppliancesAndFeatures: Stove,Refrigerator

Exterior Features

  • Roof: Tar and Gravel
  • Waterfront: No
  • Exterior Building Type: Brick

Garage/Parking

  • Parking: None

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas
  • Water Source: Lake Michigan

Fee Information

  • Other Expenses $: 11000

Lot Info

  • Lot Dimensions: 2808
  • Zoning: MULTI
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 8

Multi Family

  • Net Operating Income: 43000
  • GrossIncome: 54000
  • Units in Building: 2
  • Three Bedroom Number of Units: Yes
  • Type-Multi: 2 Flat

Tax Info

  • Tax Annual Amount: 11090.72
  • Tax Year: 2013
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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 List to Sale Price per Sq Ft Prior Sale
07/23/2015 07/23/15 Sold $535,000 -7.0% --
07/07/2015 07/07/15 Pending -- -- --
06/16/2015 06/16/15 For Sale $575,000 +35.3% --
02/21/2014 02/21/14 Sold $425,000 0.0% -- View Prior Sale
10/11/2013 10/11/13 Pending -- -- --
09/30/2013 09/30/13 Off Market $425,000 -- --
09/19/2013 09/19/13 For Sale $575,000 -- --
Source: Midwest Real Estate Data (MRED)

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 $10,979 $61,656 $8,284 $53,372
2024 $10,979 $45,351 $7,020 $38,331
2023 $10,534 $45,351 $7,020 $38,331
2022 $10,534 $45,351 $7,020 $38,331
2021 $11,015 $41,508 $4,633 $36,875
2020 $11,427 $43,641 $4,633 $39,008
2019 $11,463 $48,925 $4,633 $44,292
2018 $12,117 $44,227 $3,931 $40,296
2017 $13,166 $49,342 $3,931 $45,411
2016 $12,487 $49,342 $3,931 $45,411
2015 $11,461 $42,743 $3,369 $39,374
2014 $11,352 $42,743 $3,369 $39,374
2013 $11,091 $42,743 $3,369 $39,374
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 08955781

Midwest Real Estate Data (MRED)