NOT LISTED FOR SALE

1316 Lafayette Blvd Lincoln Park, MI 48146

Estimated Value: $160,000 - $230,000

4 Beds
3 Baths
1,924 Sq Ft
$106/Sq Ft Est. Value

Last Sold June 19, 2019

Last sale price $70,000 $36 Per Sq Ft

Est. 191% increase in value since last sale

Current estimated payment $1,562/month

135 Days on Market

Highlights

  • Covered Patio or Porch
  • Ceiling Fan
  • 4-minute walk to Zain’s Hill
  • Forced Air Heating System

About This Home

As of June 2019

REDUCED !! Unbelievable investment potential in this property. Currently 3 units, with the potential future 4th unit in the basement level. Brick structure on block foundation resting on a double lot. Two bedroom lower unit with older-renovated kitchen, vinyl windows, and replacement sewer to main in 2008. Upper units are each 1 bedroom. Older and dated, one of which is currently rented while the other needs work to transform to rent-ready. The basement houses a single large furnace and hot water tank. Kitchen and bathroom in the basement, however, also needs work to make rent-ready. Live in one, rent out the rest. There is potential for over $2,500 monthly income once fully occupied and updated. Priced to sell. Cash buyer is purchasing as-is and assumes all city-required exterior repair work.

Last Agent to Sell the Property

Russ Seely

RE/MAX Innovation License #6501376028 Listed on: 12/27/2018

RE/MAX Innovation

Last Buyer's Agent

Sandra Brownell

Benchmark Real Estate Services License #RCO-6501323838

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1930

Lot Details

  • 8,276 Sq Ft Lot
  • Lot Dimensions are 76.00x108.20

Home Design

  • Triplex
  • Brick Exterior Construction
  • Block Foundation
  • Asphalt Roof
  • Cedar

Interior Spaces

  • 3 Full Bathrooms
  • 1,924 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Partially Finished Basement

Outdoor Features

  • Covered Patio or Porch

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Natural Gas Water Heater

Community Details

  • 3 Units
  • Pennsylvania Gardens Sub Subdivision

Listing and Financial Details

  • Assessor Parcel Number 45003130024300

Property Details

Home Type

Multi-Family

Year Built

Built in 1930

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Triplex
  • Architecture Level: 2 Story
  • Year Built: 1930
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Total Bathrooms: 3.00
  • Full Bathrooms: 3
  • Basement: Yes
  • Basement Type: Partially Finished
  • Total Sq Ft: 1924

Exterior Features

  • Roof Material: Asphalt
  • Foundation Details: Basement
  • Construction Materials: Brick, Cedar
  • Foundation Materials: Block
  • Porch Type: Porch - Covered
  • Road Frontage Type: Paved

Utilities

  • Heating Fuel: Natural Gas
  • Cooling: Ceiling Fan(s)
  • Heating: Forced Air
  • Sewer: Public Sewer (Sewer-Sanitary)
  • Water Heater Fuel: Natural Gas
  • Water Source: Public (Municipal)
  • Laundry Facilities: No

Lot Info

  • List Price per Acre: 378947.3684
  • Lot Size Area: 0.19
  • Lot Dimensions: 76.00X108.20
  • Parcel Number: 45003130024300
  • Zoning: Multi-Family
  • Percent Homestead Exempt: Yes

Rental Info

  • Monthly Rental Income: 2028

Tax Info

  • Tax Amount Summer: 1541.0000
  • Tax Amount Winter: 481.0000
  • Total Tax: 2022.0000

Multi Family

  • Gross Scheduled Income: 24336.00
  • Number Of Units Total: 3

MLS Schools

  • School District: Lincoln Park

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 27, 2018
Closed on
Jun 19, 2019
Sold by
David Salssberry Gay Virginia and David Saisberry
Bought by
Orozco Miguel and Orozco Castelljanos Miguel A
Seller's Agent
Russ Seely
RE/MAX Innovation
Buyer's Agent
Sandra Brownell
Benchmark Real Estate Services
List Price
$93,000
Sold Price
$70,000
Premium/Discount to List
-$23,000
-24.73%
Current Estimated Value
$203,441

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$133,441
Avg. Annual Appreciation
18.23%
Original Mortgage
$34,000
Interest Rate
6%
Mortgage Type
Land Contract Argmt. Of Sale

Purchase Details

Closed on
Dec 10, 2018
Sold by
Holstine Terrie Anita Salsberry
Bought by
Salsberry Gay Virginia

Purchase Details

Closed on
Oct 27, 2016
Sold by
Salsberry David Larry
Bought by
Salsbrry Mother Gay Virgina

Purchase Details

Closed on
Dec 12, 2015
Sold by
Salsberry David Larry
Bought by
Salsberry Terrie Anita

Purchase Details

Closed on
Jul 21, 2008
Sold by
Kalsttein Sharon
Bought by
Salsberry David Larry

Purchase Details

Closed on
Nov 4, 2002
Sold by
Nieman Patricia and Nieman James E
Bought by
Salsberry David
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
Orozco Miguel $70,000 Michigan Title Ins Agcy Inc
Salsberry Gay Virginia -- None Available
Salsbrry Mother Gay Virgina -- None Available
Salsberry Terrie Anita -- Attorney
Salsberry David Larry -- None Available
Salsberry David $64,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Orozco Miguel $34,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/19/2019 06/19/19 Sold $70,000 -2.8% $36 / Sq Ft
05/11/2019 05/11/19 Pending -- -- --
04/19/2019 04/19/19 Price Changed $72,000 -6.5% $37 / Sq Ft
03/22/2019 03/22/19 Price Changed $77,000 -2.5% $40 / Sq Ft
03/02/2019 03/02/19 Price Changed $79,000 -4.8% $41 / Sq Ft
02/17/2019 02/17/19 Price Changed $83,000 -5.7% $43 / Sq Ft
02/06/2019 02/06/19 Price Changed $88,000 -5.4% $46 / Sq Ft
12/27/2018 12/27/18 For Sale $93,000 -- $48 / Sq Ft
Source: Realcomp

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 $5,963 $123,200 $0 $0
2024 $5,963 $109,700 $0 $0
2023 $5,660 $92,100 $0 $0
2022 $3,909 $75,500 $0 $0
2021 $3,815 $70,800 $0 $0
2020 $3,777 $51,900 $0 $0
2019 $2,419 $46,700 $0 $0
2018 $1,541 $39,500 $0 $0
2017 $1,103 $38,000 $0 $0
2016 $1,980 $37,500 $0 $0
2015 $3,680 $36,800 $0 $0
2013 $3,930 $41,100 $0 $0
2012 $2,437 $42,400 $7,600 $34,800
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2019

    Russ Seely

    RE/MAX of Southeast Michigan

    Section Image

  • S

    Buyer's Agent in 2019

    Sandra Brownell

    Benchmark Real Estate Services

    (734) 552-4074

    15 Total Sales

    Sandra Brownell
    Section Image
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Map

Source: Realcomp

MLS Number: 218120288

Realcomp

APN: 45-003-13-0024-300

Michigan Wayne County Lincoln Park 48146

1316 Lafayette Blvd, Lincoln Park, MI

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Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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