$270,000
SOLD JAN 13, 2022

1403 Somerset Ave Unit 5 Grosse Pointe Park, MI 48230

4 Beds
2 Baths
2,160 Sq Ft
4,792 Sq Ft Lot

Recently Sold

$125 Per Sq Ft

3% Below List Price

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
  • Total Tax Amount: 4384
  • 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
$342,633

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$72,633
Avg. Annual Appreciation
7.13%
Original Mortgage
$229,500
Outstanding Balance
$211,972
Interest Rate
3.12%
Mortgage Type
New Conventional
Estimated Equity
$132,998

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

Similar Homes in the area

  • 1417 Beaconsfield Ave, Grosse Pointe Park, MI 48230

    $314,900

    • 4 Beds
    • 2 Baths
    • 1,565 Sq Ft
    • 1417 Beaconsfield Ave
    • Grosse Pointe Park, MI

    Beautifully maintained duplex on one of the best streets of West Park. Perfect opportunity for a first-time home buyer to house hack by living in the upstairs unit while already having an income producing lower unit or set up as a terrific investment opportunity with the upper unit already vacant and ready to put back on the market for lease. Meticulously maintained with countless updates

    Spencer Ray Jim Saros Real Estate Services

    Section Image
  • 1445 Lakepointe St, Grosse Pointe Park, MI 48230

    $295,000

    • 3 Beds
    • 2 Baths
    • 1,632 Sq Ft
    • 1445 Lakepointe St
    • Grosse Pointe Park, MI

    Great investment opportunity with this charming 2-family home. Current lease on upper unit is $1,200/month and runs until July 2026. Lower unit is empty. Beautiful hardwoods in each unit. New roof 10/2024. 2 new hot water heaters 7/2025. The lower has newer windows, 2 bedrooms, 1 full bath, and a spacious kitchen with pantry. The upper unit features 1 bedroom, a large bathroom, living room,

    Polly Ryan Sine & Monaghan LLC

    Section Image
  • 1258 Wayburn St Unit 1260, Grosse Pointe, MI 48230

    $310,000

    • 4 Beds
    • 2 Baths
    • 2,014 Sq Ft
    • 1258 Wayburn St
    • Unit 1260
    • Grosse Pointe, MI

    This is a well maintained 2 family in Grosse Pointe Park It features Updated kitchens, hardwood floors. New roof and new furnace in lower with central air conditioning. Great location with walking distance to schools, West Park restaurant district and two lake front parks Lower rents $1300 per month with a lease through Sept 2025. Upper $1200 per month with a lease thru Sept. 2025 landscaping

    Paula M. Morris Adlhoch & Associates, REALTORS

    Section Image
  • 857 Beaconsfield Ave, Grosse Pointe Park, MI 48230

    $305,000

    • 4 Beds
    • 2 Baths
    • 2,032 Sq Ft
    • 857 Beaconsfield Ave
    • Grosse Pointe Park, MI

    Investment income south of Jefferson. This two family features in both units living room, dining room, two bedrooms and a full bath. Two car garage. New furnaces and hot water tanks and electical box (2021). Lower rented for $750.00, upper rented for $800.00. Both are month to month long time tenants.

    Robert Crandall Sine & Monaghan LLC

    Section Image
  • 302 Alter Rd, Detroit, MI 48215

    $275,000

    • 6 Beds
    • 4 Baths
    • 1,254 Sq Ft
    • 302 Alter Rd
    • Detroit, MI

    One of the most desirable 2-unit apartment buildings on the Eastside! An excellent investment opportunity with an easy-to-manage, easy-to-lease building — or live in one apartment and rent out the other to help cover your mortgage and carrying costs.Large side-by-side townhouse-style units — each with 3 bedrooms, forced air furnaces, one full bath, one half bath, private basements with

    Jimmy Saros Jim Saros Real Estate Services

    Section Image

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $270,000 Ata National Title
Warranty Deed $150,000 Greco Title Agency Llc
Deed $220,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $229,500 New Conventional
Previous Owner $25,000 Stand Alone Second
Previous Owner $120,000 New Conventional
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
2025 $3,467 $149,300 $0 $0
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

  • Section Image
  • Section Image
  • Section Image
  • Section Image
See All Agents

Map

Source: Michigan Multiple Listing Service

MLS Number: 50059880

Michigan Multiple Listing Service

APN: 39-007-02-0020-000