NOT LISTED FOR SALE

125 Cottage Ave Lansing, MI 48910

Reo Town Neighborhood

Estimated Value: $79,865 - $93,000

Studio
-- Bath
2,002 Sq Ft
$44/Sq Ft Est. Value

Last Sold September 11, 2020

Last sale price $123,750 $62 Per Sq Ft

Est. 29% decrease in value since last sale

Current estimated payment $662/month

40 Days on Market

About This Home

As of September 2020

2 Duplexes side by side downtown REO Town!!! Both Duplexes have 2 bedroom, one bath as the first unit and 1 bedroom, one bath as the second to make up the total of 4 units. All units are occupied so you start making money immediately. This is a perfect opportunity for a beginning investor to easily self-manage with them being next door to each other it cuts down on travel time when checking on your properties. 125 is actually riverfront on the Grand River!!! Don't miss your chance to own these prime location rentals. Schedule your showing today!

Last Agent to Sell the Property

Hunter Seyfarth

Berkshire Hathaway HomeServices License #6501386167 Listed on: 06/12/2020

Berkshire Hathaway HomeServices

Last Buyer's Agent

John Douglas

Keller Williams Realty Lansing License #6501386927

Keller Williams Realty Lansing

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1908

Lot Details

  • 5,227 Sq Ft Lot
  • Lot Dimensions are 84.5x60

Home Design

  • Duplex
  • Shingle Roof
  • Aluminum Siding

Interior Spaces

  • 2,002 Sq Ft Home
  • 2-Story Property
  • Basement Fills Entire Space Under The House

Parking

  • 4 Parking Spaces
  • No Garage
  • No Driveway

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Gas Water Heater
  • High Speed Internet

Listing and Financial Details

  • Total Actual Rent $27,240

Community Details

Overview

  • 4 Units

Building Details

  • Electric Expense $3,624
  • Insurance Expense $1,410
  • New Taxes Expense $3,473

Property Details

Home Type

Multi-Family

Year Built

Built in 1908

Lot Details

5,227 Sq Ft Lot

Listing Details

  • Gross Rent: 27240.0
  • Less Fuel: 869.0
  • Tax Year: 2019
  • Registered Licenses for Unrelated Occupants: yes
  • Levels: Two
  • Year Built: 1908
  • Lot Size Acres: 0.12
  • Lot Size: 84.5x60
  • Subdivision Name: None
  • Above Grade Finished Sq Ft: 2002.0
  • General Property Info:Lot Size Dimensions: 84.5x60
  • General Property Info:Above Grade Finished Area: 2002.0
  • Exterior:Aluminum Siding: Yes
  • Levels:Two2: Yes
  • Sewer:Public Sewer: Yes
  • Utilities:High Speed Internet Available: Yes
  • Roof:Shingle: Yes
  • Parking Features:No Driveway: Yes
  • Tax Info:Taxes2: 3473.59
  • Tax Info:Zoning3: Residential
  • Water Heater:Gas Water Heater2: Yes
  • General Property Info:Building 1 Description: Duplex
  • General Property Info:_pound_ of Units: 4
  • Annual Inc Expense:Insurance4: 1410.0
  • Annual Inc Expense:Tax Expense2: 3473.0
  • Annual Inc Expense:Electricity5: 3624.0
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Heating: Forced Air, Natural Gas
  • Property Type: Resid/Multi-Family
  • Full Basement: Yes

Exterior Features

  • Roof: Shingle
  • Construction Type: Aluminum Siding

Garage/Parking

  • Parking Features: No Driveway, No Garage
  • Attached Garage: No
  • Parking Features:No Garage: Yes
  • General Property Info:Parking Total: 4

Utilities

  • Sewer: Public Sewer
  • Utilities: High Speed Internet Available
  • Water Source: Public
  • Heating Yn: Yes
  • Heating:Forced Air: Yes
  • Heating:Natural Gas: Yes

Schools

  • Junior High Dist: Lansing

Lot Info

  • Lot Size Sq Ft: 5227.2
  • ResoLotSizeUnits: Acres

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 12, 2020
Closed on
Sep 11, 2020
Sold by
Light Blue Properties Llc
Bought by
Metcalf Sean
Seller's Agent
Hunter Seyfarth
Berkshire Hathaway HomeServices
Buyer's Agent
John Douglas
Keller Williams Realty Lansing
List Price
$134,900
Sold Price
$123,750
Premium/Discount to List
-$11,150
-8.27%
Current Estimated Value
$87,966

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$35,784
Avg. Annual Appreciation
-6.09%
Original Mortgage
$50,000
Outstanding Balance
$35,602
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$52,364

Purchase Details

Listed on
May 21, 2018
Closed on
Aug 7, 2018
Sold by
Fuller James
Bought by
Light Blue Properties Llc
Seller's Agent
Bradley Hillard
1st Choice Real Estate
Buyer's Agent
Hunter Seyfarth
Berkshire Hathaway HomeServices
List Price
$49,900
Sold Price
$45,000
Premium/Discount to List
-$4,900
-9.82%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
62.26%
Original Mortgage
$36,000
Interest Rate
4.5%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 23, 2004
Sold by
Robbins Paul R and Robbins Sharon
Bought by
Fuller James M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$49,500
Interest Rate
6.39%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Metcalf Sean $62,500 None Available
Light Blue Properties Llc $45,000 Ata National Title Group Llc
Fuller James M $55,000 Trans
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Metcalf Sean $50,000
Previous Owner Light Blue Properties Llc $36,000
Previous Owner Fuller James M $49,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/11/2020 09/11/20 Sold $123,750 -8.3% $62 / Sq Ft
07/21/2020 07/21/20 Pending -- -- --
06/11/2020 06/11/20 For Sale $134,900 +199.8% $67 / Sq Ft
08/09/2018 08/09/18 Sold $45,000 -9.8% $45 / Sq Ft View Prior Sale
06/13/2018 06/13/18 Pending -- -- --
05/18/2018 05/18/18 For Sale $49,900 -- $50 / Sq Ft
Source: Greater Lansing Association of Realtors®

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 $2,504 $31,900 $3,300 $28,600
2024 $19 $33,700 $3,300 $30,400
2023 $2,362 $28,800 $3,300 $25,500
2022 $2,165 $27,500 $2,500 $25,000
2021 $2,064 $23,800 $3,000 $20,800
2020 $1,856 $21,800 $3,000 $18,800
2019 $1,763 $20,600 $3,000 $17,600
2018 $1,534 $18,600 $3,000 $15,600
2017 $1,473 $18,600 $3,000 $15,600
2016 $1,426 $18,000 $3,000 $15,000
2015 $1,426 $17,300 $6,011 $11,289
2014 $1,426 $17,200 $6,011 $11,189
Source: Public Records

Agents Affiliated with this Home

  • H

    Seller's Agent in 2020

    Hunter Seyfarth

    Berkshire Hathaway HomeServices

    (517) 281-1683

    39 Total Sales

    Hunter Seyfarth
    Section Image
  • John Douglas

    Buyer's Agent in 2020

    John Douglas

    Keller Williams Realty Lansing

    (814) 933-2274

    218 Total Sales

    John Douglas
    Section Image

  • B

    Seller's Agent in 2018

    Bradley Hillard

    1st Choice Real Estate

    (517) 410-6750

    1 in this area

    64 Total Sales

    Bradley Hillard
    Section Image

  • J

    Seller Co-Listing Agent in 2018

    Jill Powell

    1st Choice Real Estate

    Section Image
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Map

Source: Greater Lansing Association of Realtors®

MLS Number: 246834

Greater Lansing Association of Realtors®

APN: 01-01-21-180-001

Michigan Ingham County Lansing 48910 Reo Town

125 Cottage Ave, Lansing, MI

Not Listed for Sale

MultiFamily

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