NOT LISTED FOR SALE

1351 Broadway Ave NW Grand Rapids, MI 49504

West Grand Neighborhood

Estimated Value: $212,000 - $247,123

-- Bed
-- Bath
-- Sq Ft
3,833 Sq Ft Lot

Last Sold May 31, 2013

Last sale price $47,900

Est. 373% increase in value since last sale

Current estimated payment $1,329/month

71 Days on Market

About This Home

As of May 2013

GREAT INVESTMENT OPPORTUNITY This two unit home is rented with long term renters at $550 per month each unit. Renters pay their own utilities except water and sewer which runs about $50 per month per owner. Both units include stove and refrigerator.

Last Agent to Sell the Property

Denise Maghielse

Real Estate with Maghielse &Co Listed on: 01/29/2013

Co-Listed By

Darcy DiCesare

Real Estate with Maghielse &Co

Last Buyer's Agent

Tony Scholten

RE/MAX of Grand Rapids License #6501287746

RE/MAX of Grand Rapids

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $1,521

Year Built

  • Built in 1901

Lot Details

  • 3,833

Home Design

  • Composition Roof

Basement

  • Michigan Basement

Utilities

  • No Cooling
  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for trash collection, gas
  • The owner pays for water, sewer

Community Details

Overview

  • 2 Units

Building Details

  • Operating Expense $10,900
  • Gross Income $13,300
  • Net Operating Income $2,400

Property Details

Home Type

Apartment

Est. Annual Taxes

$1,521

Year Built

Built in 1901

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1901
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Accessibility Features: Covered Entrance
  • Basement: Michigan Basement

Exterior Features

  • List Price: 54000.0
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Composition
  • Waterfront: No

Utilities

  • Cooling: None
  • Cooling: No
  • Heating: Natural Gas, Forced Air
  • Heating: Yes
  • Utilities: Telephone Line, Cable Connected
  • Water Source: Public

Lot Info

  • Zoning Description: RES
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Water, Sewer
  • Tenant Pays: Trash Collection, Gas

Multi Family

  • Gross Income: 13300.0
  • Net Operating Income: 2400.0
  • Number of Units Total: 2
  • Operating Expense: 10900.0

Tax Info

  • Tax Annual Amount: 1.0
  • Tax Year: 2012

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 29, 2013
Closed on
May 31, 2013
Sold by
Sweezer Jason R and Sweezer Kelly
Bought by
Morgan Nichole
Seller's Agent
Denise Maghielse
Real Estate with Maghielse &Co
Buyer's Agent
Tony Scholten
RE/MAX of Grand Rapids
List Price
$59,000
Sold Price
$47,900
Premium/Discount to List
-$11,100
-18.81%
Current Estimated Value
$226,781

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$178,881
Avg. Annual Appreciation
13.38%
Original Mortgage
$35,925
Outstanding Balance
$25,384
Interest Rate
3.34%
Mortgage Type
Commercial
Estimated Equity
$201,398

Purchase Details

Closed on
Jun 18, 2008
Sold by
Flores Gabriela
Bought by
Martinez Samuel

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$10,000
Interest Rate
6.04%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Jan 17, 2007
Sold by
Anounanh Tiemthong
Bought by
Hsbc Bank Usa and Ace Securities Corp

Purchase Details

Closed on
Mar 9, 2005
Sold by
Advanced Realty Systems Llc
Bought by
Anounonh Tiemthong

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$123,500
Interest Rate
7.74%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 17, 2004
Sold by
Advanced Realty Systems Llc
Bought by
Nguyen Hai

Purchase Details

Closed on
Sep 8, 2004
Sold by
Buikema David W and Buikema Gloria J
Bought by
Advanced Realty Systems Llc
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
Morgan Nichole $47,900 None Available
Martinez Samuel $10,000 None Available
Hsbc Bank Usa $128,565 None Available
Anounonh Tiemthong $130,000 Rels Title
Advance Realty Systems Llc -- --
Nguyen Hai -- --
Advanced Realty Systems Llc $104,983 Michigan Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Morgan Nichole $35,925
Previous Owner Martinez Samuel $10,000
Previous Owner Anounonh Tiemthong $123,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/31/2013 05/31/13 Sold $47,900 -18.8% --
04/10/2013 04/10/13 Pending -- -- --
01/29/2013 01/29/13 For Sale $59,000 -- --
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 $1,521 $105,000 $0 $0
2024 $1,521 $97,400 $0 $0
2023 $1,508 $88,200 $0 $0
2022 $1,434 $73,300 $0 $0
2021 $1,397 $65,500 $0 $0
2020 $1,350 $57,500 $0 $0
2019 $1,382 $45,100 $0 $0
2018 $1,340 $35,800 $0 $0
2017 $1,082 $31,000 $0 $0
2016 $1,090 $28,100 $0 $0
2015 $1,029 $28,100 $0 $0
2013 -- $23,500 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2013

    Denise Maghielse

    Real Estate with Maghielse &Co

    (616) 977-7790

    7 in this area

    244 Total Sales

    Denise Maghielse
    Section Image

  • D

    Seller Co-Listing Agent in 2013

    Darcy DiCesare

    Real Estate with Maghielse &Co

    (616) 901-1281

    3 in this area

    135 Total Sales

    Darcy DiCesare
    Section Image
  • Tony Scholten

    Buyer's Agent in 2013

    Tony Scholten

    RE/MAX

    (616) 862-0342

    1 in this area

    199 Total Sales

    Tony Scholten
    Section Image
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 13005736

Southwestern Michigan Association of REALTORS®

APN: 41-13-13-379-025

Michigan Kent County Grand Rapids 49504 West Grand

1351 Broadway Ave NW, Grand Rapids, MI

This home is located at 1351 Broadway Ave NW, Grand Rapids, MI 49504 since 29 January 2013 and is currently estimated at $226,781. This property was built in 1901. 1351 Broadway Ave NW is a home located in Kent County with nearby schools including Harrison Elementary School, Westwood Middle School, and Union 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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