NOT LISTED FOR SALE

1374 Stanley Ave Pontiac, MI 48340

Estimated Value: $185,478 - $359,000

8 Beds
4 Baths
2,160 Sq Ft
$116/Sq Ft Est. Value

Last Sold December 29, 2016

Last sale price $125,000 $58 Per Sq Ft

Est. 100% increase in value since last sale

Current estimated payment $1,464/month

93 Days on Market

Highlights

  • 0.3 Acre Lot
  • 1-Story Property
  • Private Entrance
  • Covered Patio or Porch
  • Forced Air Heating System
  • Fenced

About This Home

As of December 2016

Great money maker. All long term tenants. Requires 48 hour notice to show. Nice large private yard, 2 separate shared basements ideal for storage. Corner of street with units on 2 streets. Private entrances. Porches, Priced below market value. Price is just 6 x the net income per year. 17% return on the investment at purchase price. Land contract terms negotiatable. Quiet , safe location as well. Copies of leases and cash flow with expenses in documents online here

Last Agent to Sell the Property

Andrew Mimikos

AutoCity Realty LLC License #6501152128 Listed on: 09/17/2016

Last Buyer's Agent

Non Participant

Non Realcomp Office License #RCO

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1940 | Remodeled in 2004

Lot Details

  • 0.3 Acre Lot
  • Lot Dimensions are x13031.05
  • Private Entrance
  • Fenced

Home Design

  • Quadruplex
  • Block Foundation
  • Asphalt Roof
  • Stone Siding

Interior Spaces

  • 4 Full Bathrooms
  • 2,160 Sq Ft Home
  • 1-Story Property

Basement

  • Basement Fills Entire Space Under The House
  • Crawl Space

Parking

  • 15 Parking Spaces
  • Paved Parking
  • On-Street Parking

Outdoor Features

  • Covered Patio or Porch

Utilities

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

Community Details

  • 4 Units
  • Walton Blvd Park Sub Subdivision

Listing and Financial Details

  • Assessor Parcel Number 1417102046

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,442

Year Built

Built in 1940 | Remodeled in 2004

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Quadruplex
  • Architecture Level: 1 Story
  • Assessment: 232
  • Year Built: 1940
  • Year Renovated: 2004
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 1

Interior Features

  • Total Bathrooms: 4.00
  • Full Bathrooms: 4
  • Basement: Yes
  • Basement Type: Common
  • Total Sq Ft: 2160

Exterior Features

  • Roof Material: Asphalt
  • Foundation Details: Basement, Crawl
  • Construction Materials: Stone
  • Exterior Features: Fenced, Private Entry
  • Foundation Materials: Block
  • Porch Type: Porch - Covered
  • Road Frontage Type: Paved

Garage/Parking

  • MF Parking: On Street, Paved
  • Total Parking Spaces: 15

Utilities

  • Heating Fuel: Natural Gas
  • 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: 466333.3333
  • Lot Size Area: 0.30
  • Lot Dimensions: X13031.05
  • Parcel Number: 1417102046
  • Zoning: Multi-Family

Rental Info

  • Deposit Amount: 35000.00
  • Rent Includes: Water/Sewer
  • Legal Rental Certified: Yes
  • Monthly Rental Income: 2505

Tax Info

  • Tax Amount Summer: 1169.0000
  • Tax Amount Winter: 273.0000
  • Total Tax: 1442.0000

Multi Family

  • Gross Scheduled Income: 30060.00
  • Number Of Units Total: 4

MLS Schools

  • School District: Pontiac

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 12, 2018
Sold by
4731 Group Llc
Bought by
Weaver Derek J
Current Estimated Value
$250,370

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$96,250
Outstanding Balance
$81,433
Interest Rate
3.95%
Mortgage Type
New Conventional
Estimated Equity
$168,937

Purchase Details

Listed on
Sep 17, 2016
Closed on
Dec 29, 2016
Sold by
Korot Alexander and Korot Svetlana N
Bought by
4731 Group Llc
Seller's Agent
Andrew Mimikos
AutoCity Realty LLC
Buyer's Agent
Non Participant
Non Realcomp Office
List Price
$139,900
Sold Price
$125,000
Premium/Discount to List
-$14,900
-10.65%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.17%

Purchase Details

Closed on
Feb 10, 2004
Sold by
Revocable Living Trust Emilene B Stites
Bought by
Korot Alexander and Korot Svetlana N

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$120,000
Interest Rate
5.8%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 15, 1999
Sold by
Stites Howard
Bought by
Emilene B Stites Tr
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
Weaver Derek J -- Sterling Title Agency
4731 Group Llc $125,000 Sterling Title Agency
Korot Alexander $150,000 Title One Inc
Emilene B Stites Tr -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Weaver Derek J $96,250
Previous Owner Korot Alexander $120,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/29/2016 12/29/16 Sold $125,000 -10.7% $58 / Sq Ft
12/19/2016 12/19/16 Pending -- -- --
09/17/2016 09/17/16 For Sale $139,900 -- $65 / 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
2024 $1,808 $57,330 $0 $0
2023 $1,723 $49,260 $0 $0
2022 $1,914 $39,480 $0 $0
2021 $1,862 $34,100 $0 $0
2020 $1,566 $30,350 $0 $0
2019 $1,751 $27,990 $0 $0
2011 -- $48,860 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • A

    Seller's Agent in 2016

    Andrew Mimikos

    AutoCity Realty LLC

    Section Image

  • N

    Buyer's Agent in 2016

    Non Participant

    Non Realcomp Office

  • U

    Buyer's Agent in 2016

    Unidentified Agent

    Unidentified Office

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Map

Source: Realcomp

MLS Number: 216092209

Realcomp

APN: 14-17-102-046

Michigan Oakland County Pontiac 48340

1374 Stanley Ave, Pontiac, 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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