NOT LISTED FOR SALE

Estimated Value: $117,000 - $133,000

-- Bed
-- Bath
1,501 Sq Ft
$83/Sq Ft Est. Value

Last Sold January 25, 2017

Last sale price $52,400 $35 Per Sq Ft

Est. 137% increase in value since last sale

Current estimated payment $962/month

About This Home

As of January 2017

Welcome to your new income property. 1308 Ohio Avenue has been in the possession of the same owners for over 15 years. It serves its role well as a traditional duplex, an owner-occupied unit with additional income, or as a home with an active mother-in-law suite. The bones are in mighty fine shape with a new roof installed in 2005, Pex pipes installed in 2007, new furnace and water heater for the second unit in 2007, and original hardwood floors and trim throughout. BONUS: All utilities have been split to properly feed each unit. Each tenant is responsible for paying their own water, electricity, sewer, and gas. This duplex is inspected every three years by the City of Lansing and was last inspected in late 2015. The exterior was stripped down to the original boards in 2014 and adds charm and dignity to the home. A garage (with barn doors) is on the property which allows the owner ample room to store tools and machines such as lawn mowers, blowers, trimmers, etc. on site. Tenants do not have access to the garage. The first floor unit has opened up this month for the first time in 8 years. The resident was a doctoral student at Michigan State University. The second-floor unit is occupied with a MSU employee who pays $400 a month in rent plus all of the unit's utilities. Showings are immediately available for the first-floor unit until 8:00 p.m. at night. If the interested party would like to see the second-floor apartment, we will need to deliver a 36-hour notice of entry for the showing.

Last Agent to Sell the Property

Dave Ledebuhr

Musselman Realty Company License #6502109685 Listed on: 07/11/2016

Last Buyer's Agent

Agent Outside

Out Side Company

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1935

Lot Details

  • Lot Dimensions are 41x127

Home Design

  • Brick Exterior Construction
  • Shingle Siding

Interior Spaces

  • 1,501 Sq Ft Home
  • 2-Story Property
  • Basement Fills Entire Space Under The House
  • Fire and Smoke Detector

Parking

  • 2 Car Detached Garage
  • No Driveway

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Gas Water Heater
  • Cable TV Available

Community Details

  • 2 Units

Property Details

Home Type

Multi-Family

Year Built

Built in 1935

Lot Details

0

Listing Details

  • Tax Year: 15
  • Total Ovens: 2
  • Total Ranges: 2
  • Total Refrigerators: 2
  • Levels: Two
  • Year Built: 1935
  • Lot Size: 41x127
  • Subdivision Name: None
  • Above Grade Finished Sq Ft: 1501.0
  • General Property Info:Lot Size Dimensions: 41x127
  • General Property Info:Above Grade Finished Area: 1501.0
  • Levels:Two2: Yes
  • Sewer:Public Sewer: Yes
  • Utilities:Cable Available: Yes
  • Security Features:Smoke Detector(s): Yes
  • Exterior:Brick: Yes
  • Exterior:Shingle Siding: Yes
  • Parking Features:No Driveway: Yes
  • Tax Info:Taxes2: 2119.0
  • Tax Info:Zoning3: Residential
  • Water Heater:Gas Water Heater2: Yes
  • General Property Info:Building 1 Description: Two Story Up Down duplex
  • General Property Info:_pound_ of Units: 2
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

  • Construction Type: Brick, Shingle Siding

Garage/Parking

  • Parking Features: Detached, No Driveway
  • Attached Garage: No
  • Parking Features:Detached: Yes
  • General Property Info:Parking Total: 2-4

Utilities

  • Sewer: Public Sewer
  • Utilities: Cable Available
  • Water Source: Public
  • Heating Yn: Yes
  • Heating:Forced Air: Yes
  • Heating:Natural Gas: Yes

Schools

  • Junior High Dist: Lansing

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 11, 2016
Closed on
Jan 25, 2017
Sold by
Plaka Properties Llc
Bought by
Michigan Investments Llc
Seller's Agent
Dave Ledebuhr
Musselman Realty Company
Buyer's Agent
Agent Outside
Out Side Company
List Price
$64,900
Sold Price
$52,400
Premium/Discount to List
-$12,500
-19.26%
Current Estimated Value
$124,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$71,600
Avg. Annual Appreciation
10.40%
Original Mortgage
$106,536
Interest Rate
4.32%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 9, 2009
Sold by
Potter Jodi L and Potter Hugh M
Bought by
Plaka Properties Llc

Purchase Details

Closed on
Jun 4, 2009
Sold by
Potter Jodi L
Bought by
Potter Jodi L and Potter Hugh M

Purchase Details

Closed on
Apr 24, 2003
Sold by
Potter Jodi L and Strang Jodi L
Bought by
Potter Jodi L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$32,000
Interest Rate
5.51%
Mortgage Type
Stand Alone Second

Purchase Details

Closed on
Oct 18, 2001
Sold by
Leabu Daniel S and Strang Leabu Linda A
Bought by
Strang Jodi L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$76,800
Interest Rate
6.68%

Purchase Details

Closed on
Aug 24, 2000
Sold by
Burt William E and Burt Naomi A
Bought by
Leabu Daniel S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$66,400
Interest Rate
8.26%
Mortgage Type
FHA
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
Michigan Investments Llc $52,400 None Available
Plaka Properties Llc -- None Available
Potter Jodi L -- None Available
Potter Jodi L -- Resource Title Llc
Strang Jodi L $69,900 Select Title Company
Leabu Daniel S $67,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Michigan Investments Llc $422,800
Closed Michigan Investments Llc $106,536
Previous Owner Potter Jodi L $32,000
Previous Owner Strang Jodi L $76,800
Previous Owner Leabu Daniel S $66,400
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/25/2017 01/25/17 Sold $52,400 -19.3% $35 / Sq Ft
12/29/2016 12/29/16 Pending -- -- --
07/11/2016 07/11/16 For Sale $64,900 -- $43 / Sq Ft
Source: Greater Lansing 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 $3,618 $68,700 $2,800 $65,900
2024 $29 $57,600 $2,800 $54,800
2023 $3,408 $49,200 $2,800 $46,400
2022 $3,118 $43,800 $2,900 $40,900
2021 $3,046 $41,300 $4,300 $37,000
2020 $3,024 $39,400 $4,300 $35,100
2019 $2,927 $35,400 $4,300 $31,100
2018 $2,846 $34,500 $4,300 $30,200
2017 $2,639 $34,500 $4,300 $30,200
2016 $2,534 $33,900 $4,300 $29,600
2015 $2,534 $33,200 $8,510 $24,690
2014 $2,534 $32,600 $8,510 $24,090
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Greater Lansing Association of Realtors®

MLS Number: 83659

Greater Lansing Association of Realtors®

APN: 01-01-10-255-091