$83,000
SOLD FEB 19, 2020

1512 Richmond Ave Lincoln Park, MI 48146

4 Beds
2 Baths
1,218 Sq Ft
3,920 Sq Ft Lot

Recently Sold

$68 Per Sq Ft

7% Below List Price

20 Days on Market

Highlights

  • Deck
  • Bungalow
  • Ceiling Fan
  • Covered patio or porch
  • Forced Air Heating System
  • High Speed Internet

About This Home

As of February 2020

Incredible opportunity to buy tenant occupied city registered rental unit with tenants in place. Buy as turn-key rental OR Live in one unit and rent out the other. Upper and lower units are both 2 bed 1 bath with large kitchens. Kitchens include fridge and stove. Two (new) water tank and 1 (new) furnace. Newer windows. Well maintained property. Real estate investors/buyers can also use FHA loans for investment properties on only on condition: the property must become the investor/buyers primary residence. Registered rental with the city of Lincoln Park. BATVAD. Limited viewing schedule. Please see agent only remarks.

Last Agent to Sell the Property

Mark Zawaideh

EXP Z Real Estate License #6506043253 Listed on: 12/10/2019

EXP Z Real Estate

Co-Listed By

Jonathan Labarre

EXP Realty Main License #6051408865

Last Buyer's Agent

Terri Mayros

Premiere Realty Group LLC License #RCO-6501271236

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1926

Lot Details

  • 3,920 Sq Ft Lot
  • Lot Dimensions are 38.00x108.00
  • Fenced

Home Design

  • Bungalow
  • Block Foundation
  • Asphalt Roof

Interior Spaces

  • 2 Full Bathrooms
  • 1,218 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Unfinished Basement
  • Natural lighting in basement

Outdoor Features

  • Deck
  • Covered patio or porch
  • Exterior Lighting

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 45016020071302

Community Details

Overview

  • 2 Units
  • Garfield Park Sub Subdivision

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,780

Year Built

Built in 1926

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Bungalow
  • Architecture Level: 2 Story
  • Assessment: 0.02
  • Year Built: 1926
  • State Equalized Value: 26300.0000
  • Pets Allowed: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Interior Amenities: Cable Available, High Spd Internet Avail
  • Total Bathrooms: 2.00
  • Full Bathrooms: 2
  • Basement: Yes
  • Basement Type: Daylight, Unfinished
  • Sq Ft Combined: 1218
  • Total Sq Ft: 1218
  • Sq Ft Total Bsmt: 696

Exterior Features

  • Roof Material: Asphalt
  • Foundation Details: Basement
  • Construction Materials: Aluminum
  • Exterior Features: Fenced, Lighting
  • Foundation Materials: Block
  • Frontage Feet: 38
  • Porch Type: Deck, Porch - Covered
  • Road Frontage Type: Paved

Utilities

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

Schools

  • School District: Lincoln Park

Lot Info

  • List Price per Acre: 988888.8889
  • Lot Size Area: 0.09
  • Lot Dimensions: 38.00X108.00
  • Parcel Number: 45016020071302
  • Zoning: Multi-Family

Rental Info

  • Monthly Rental Income: 1280

Tax Info

  • Tax Amount Summer: 1498.0000
  • Tax Amount Winter: 282.0000
  • Total Tax: 1780.0000
  • Taxable Value: 25520.0000

Multi Family

  • Gross Scheduled Income: 15360.00
  • Number Of Units Total: 2
  • Unit Count: 1
  • Number of Two Bedroom Units: 2
  • Number Of Units Leased: 2

MLS Schools

  • School District: Lincoln Park

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 10, 2019
Closed on
Feb 19, 2020
Sold by
Harbowy Todd J
Bought by
Carrauza Olivia
Seller's Agent
Mark Zawaideh
EXP Z Real Estate
Buyer's Agent
Terri Mayros
Premiere Realty Group LLC
List Price
$89,000
Sold Price
$83,000
Premium/Discount to List
-$6,000
-6.74%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
12.03%
Original Mortgage
$62,250
Outstanding Balance
$55,817
Interest Rate
3.6%
Mortgage Type
New Conventional
Estimated Equity
$98,128

Purchase Details

Closed on
Sep 17, 2003
Sold by
White Lindel E and White Virginia L
Bought by
Harbowy Todd J

Purchase Details

Closed on
Nov 16, 2000
Sold by
Bartosek Bridget P
Bought by
Lindel E White
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 Type Sale Price Title Company
Warranty Deed $83,000 None Available
Warranty Deed $113,000 Transnation Title
Deed $95,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $62,250 New Conventional
Previous Owner $85,075 New Conventional
Previous Owner $25,000 Credit Line Revolving
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/28/2025 07/28/25 For Sale $169,999 +104.8% $140 / Sq Ft
02/19/2020 02/19/20 Sold $83,000 -6.7% $68 / Sq Ft
12/30/2019 12/30/19 Pending -- -- --
12/27/2019 12/27/19 For Sale $89,000 0.0% $73 / Sq Ft
12/17/2019 12/17/19 Pending -- -- --
12/10/2019 12/10/19 For Sale $89,000 -- $73 / 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 $2,486 $56,000 $0 $0
2023 $2,360 $53,300 $0 $0
2022 $2,625 $45,700 $0 $0
2021 $2,044 $35,400 $0 $0
2020 $1,936 $30,500 $0 $0
2019 $1,624 $30,200 $0 $0
2018 $1,498 $26,300 $0 $0
2017 $763 $26,400 $0 $0
2016 $1,790 $25,500 $0 $0
2015 $2,470 $24,700 $0 $0
2013 $2,550 $26,700 $0 $0
2012 $2,158 $27,400 $5,500 $21,900
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Realcomp

MLS Number: 219121382

Realcomp

APN: 45-016-02-0071-302