NOT LISTED FOR SALE

1403 Somerset Ave Unit 5 Grosse Pointe Park, MI 48230

Estimated Value: $302,000 - $360,000

4 Beds
2 Baths
2,160 Sq Ft
$152/Sq Ft Est. Value

Last Sold January 13, 2022

Last sale price $270,000 $125 Per Sq Ft

Est. 21% increase in value since last sale

Current estimated payment $2,115/month

121 Days on Market

Highlights

  • Forced Air Heating System
  • George Defer Elementary School Rated A
  • 2 Car Garage

About This Home

As of January 2022

Nice 4 square two family brick income property. Hardwood floors throughout. First floor owner occupied with open kitchen/dining area. Both units have 2 bedrooms and one full bath each. Separate basements and separate gas and electric. Two car brick garage with additional storage shed off rear. Newly fenced private corner lot. Price reflects cosmetic decorating needs.

Last Agent to Sell the Property

Mark Monaghan

Sine & Monaghan LLC License #MISPE-6502365516 Listed on: 07/26/2021

Sine & Monaghan LLC

Last Buyer's Agent

Miles Knight

Sine & Monaghan LLC License #MISPE-6501420542

Sine & Monaghan LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1947

Lot Details

  • Lot Dimensions are 40.00x118.00

Parking

  • 2 Car Garage

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 2-Story Property
  • Basement
  • Block Basement Construction

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Utilities

  • Forced Air Heating System
  • Separate Meters
  • Gas Water Heater

Listing and Financial Details

  • Assessor Parcel Number 39007020020000

Community Details

Overview

  • 2 Units
  • Somerset Road Sub Subdivision

Pet Policy

  • Pet Restriction

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,384

Year Built

Built in 1947

Lot Details

0

Listing Details

  • Originating MLS: MiRealSource
  • Class: MULTIFAMILY
  • Type Of Property: Multi-Family
  • Structure Style: 2 Story
  • Year Built: 1947
  • Mail City: Grosse Pointe
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Basement: Yes
  • Basement Type: Block
  • Bedrooms: 4
  • Full Bathrooms: 2
  • Total Bathrooms: 2
  • Estimated Sq Ft: 2160

Exterior Features

  • Construction: Brick
  • Frontage: 40
  • Foundation Type: Basement
  • Roads: Paved Street

Garage/Parking

  • Garage Spaces: 2
  • Parking: Garage

Utilities

  • Water: Public Water
  • Water Heater: Gas
  • Fuel Type: Natural Gas
  • Heating System: Forced Air
  • Separate Electric: Yes
  • Separate Gas: Yes
  • Separate Heat: Yes
  • Sewer/Septic System: Public At Street

Condo/Co-op/Association

  • Community Amenities: Some Pet Restrictions

Lot Info

  • Assessor Parcel Number: 39007020020000
  • Lot Dimensions: 40.00X118.00
  • Zoning: Residential
  • Geo Subdivision: MI

Tax Info

  • Summer Tax: Year: 2020, Amount: $1,859.00
  • Winter Tax: Year: 2020, Amount: $2,525.00
  • Taxable Value: 73733
  • Total Tax: Amount: $4,384.00

Multi Family

  • Total Units: 2

MLS Schools

  • School District: Grosse Pointe Public Schools

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 26, 2021
Closed on
Jan 4, 2022
Sold by
Ferraro Iii Joseph A
Bought by
Mccormick Emma
Seller's Agent
Mark Monaghan
Sine & Monaghan LLC
Buyer's Agent
Miles Knight
Sine & Monaghan LLC
List Price
$279,000
Sold Price
$270,000
Premium/Discount to List
-$9,000
-3.23%
Current Estimated Value
$327,800

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$57,800
Avg. Annual Appreciation
4.73%
Original Mortgage
$229,500
Outstanding Balance
$213,686
Interest Rate
3.12%
Mortgage Type
New Conventional
Estimated Equity
$102,729

Purchase Details

Listed on
Dec 1, 2014
Closed on
May 1, 2015
Sold by
Gudkese Jacquelin A and Toth Joseph A
Bought by
Ferraro Joseph A
Seller's Agent
Mark Monaghan
Sine & Monaghan LLC
Buyer's Agent
mark monaghan
Sine & Monaghan Realtors Real Living LLC GPF
List Price
$165,000
Sold Price
$150,000
Premium/Discount to List
-$15,000
-9.09%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.15%
Original Mortgage
$120,000
Interest Rate
3.68%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 5, 2002
Sold by
Briggs Molly I
Bought by
Chaffee Jeanette M
Source: Public Records

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Range of Values:

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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
Mccormick Emma $270,000 Ata National Title
Ferraro Joseph A $150,000 Greco Title Agency Llc
Chaffee Jeanette M $220,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mccormick Emma $229,500
Previous Owner Ferraro Joseph A $25,000
Previous Owner Ferraro Joseph A $120,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/13/2022 01/13/22 Sold $270,000 -3.2% $125 / Sq Ft
11/24/2021 11/24/21 Pending -- -- --
07/26/2021 07/26/21 For Sale $279,000 +86.0% $129 / Sq Ft
05/01/2015 05/01/15 Sold $150,000 -9.1% $69 / Sq Ft
12/17/2014 12/17/14 Pending -- -- --
12/01/2014 12/01/14 For Sale $165,000 0.0% $76 / Sq Ft
04/28/2014 04/28/14 Rented $875 0.0% --
08/27/2013 08/27/13 Under Contract -- -- --
08/22/2013 08/22/13 For Rent $875 +9.4% --
08/07/2012 08/07/12 Rented $800 0.0% --
08/04/2012 08/04/12 Under Contract -- -- --
07/26/2012 07/26/12 For Rent $800 -- --
Source: Michigan Multiple Listing Service

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 $3,467 $141,100 $0 $0
2023 $3,311 $133,100 $0 $0
2022 $1,900 $117,600 $0 $0
2021 $4,311 $104,200 $0 $0
2019 $4,309 $87,200 $0 $0
2018 $1,812 $74,200 $0 $0
2017 $5,065 $45,300 $0 $0
2016 $4,275 $68,500 $0 $0
2015 $7,150 $71,500 $0 $0
2013 $7,050 $71,800 $0 $0
2012 $2,080 $75,000 $23,200 $51,800
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Michigan Multiple Listing Service

MLS Number: 50059880

Michigan Multiple Listing Service

APN: 39-007-02-0020-000