NOT LISTED FOR SALE

1541 Plainfield Ave NE Grand Rapids, MI 49505

Creston Neighborhood

Estimated Value: $410,948

-- Bed
3 Baths
2,182 Sq Ft
$188/Sq Ft Est. Value

Last Sold October 12, 2021

Last sale price $318,000 $146 Per Sq Ft

Est. 29% increase in value since last sale

Current estimated payment $2,629/month

84 Days on Market

About This Home

As of October 2021

Amazing Investment Opportunity! Land Contract Option: 5 Year Balloon, 6% interest rate with 10% Down. This property is a 3-Unit, mixed use that has Commercial Zoning. Unit 1 is a Retail Space that is currently ''The Feet Suite'', this business has currently been paused to allow for more flexibility for showings. The sale of this property comes with all the fixtures, furnishings and transfer of business ownership to the new owner. The Feet Suite is a profitable and very manageable business with little overhead. The updated commercial space could rent for $1,500-$2,000 per month if the new owner decided they didn't want to operate this business. Unit 2 is a turnkey rental that is currently used as an Airbnb and is fully furnished, furnishings and bookings are also included with the sale. Airbnb has had a very steady income of approx. $2,000 per month. Unit 3 is currently vacant and ready for a new tenant; this unit could easily rent for $900 to $1,000 per month. There currently aren't any leases signed for the property which leaves the options open for the new owners. Property is in the growing Creston Neighborhood and the commercial space has great visibility to traffic on Plainfield. There is a garden space that was created at the rear of the building for future tenants. Utilities are split and have been upgraded in the last couple of years, there is a basement that has an abundance of storage and units have updated appliances with dishwashers included.

Duplicate Commercial Listing: 21019296

Last Agent to Sell the Property

Justin Wisniewski

616 Realty LLC License #6501427163 Listed on: 06/02/2021

616 Realty LLC

Co-Listed By

Caitlyn Wisniewski

616 Realty LLC License #6506048186

Last Buyer's Agent

Drew Denham

Keller Williams GR North (Main) License #6506047679

Keller Williams GR North (Main)

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $3,308

Year Built

  • Built in 1953

Lot Details

  • 3,441 Sq Ft Lot

Parking

  • 3 Parking Spaces

Home Design

  • Brick Exterior Construction
  • Composition Roof
  • Rubber Roof

Utilities

  • Forced Air Heating System
  • Wall Furnace
  • Natural Gas Connected
  • High Speed Internet
  • Cable TV Available

Community Details

  • 3 Units

Property Details

Home Type

Apartment

Est. Annual Taxes

$3,308

Year Built

Built in 1953

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1953
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Construction Materials: Brick
  • List Price: 309000.0
  • Number of Buildings: 1
  • Roof: Composition, Rubber

Garage/Parking

  • Total Parking Spaces: 3.0

Utilities

  • Heating: Wall Furnace, Forced Air
  • Heating: Yes
  • Utilities: Telephone Line, Natural Gas Connected, Cable Connected, Public Water, Public Sewer, Broadband

Lot Info

  • Lot Size Acres: 0.08
  • Lot Size Area: 0.08
  • Lot Size Sq Ft: 3441.0
  • Zoning Description: commercial
  • ResoLotSizeUnits: Acres

Multi Family

  • Number of Units Total: 3

Tax Info

  • Tax Annual Amount: 3308.0
  • Tax Year: 2020

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 2, 2021
Closed on
Oct 14, 2021
Sold by
Bryant Ross and Bryant Ross E
Bought by
Northern Heritage Proeprties Llc
Seller's Agent
Justin Wisniewski
616 Realty LLC
Buyer's Agent
Drew Denham
Keller Williams GR North (Main)
List Price
$399,000
Sold Price
$318,000
Premium/Discount to List
-$81,000
-20.3%
Current Estimated Value
$410,948

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$92,948
Avg. Annual Appreciation
6.22%
Original Mortgage
$238,500
Outstanding Balance
$218,431
Interest Rate
2.8%
Mortgage Type
Commercial
Estimated Equity
$185,632

Purchase Details

Listed on
Jun 2, 2021
Closed on
Oct 12, 2021
Sold by
Bryant Ross E
Bought by
Northern Heritage Properties Llc
Seller's Agent
Justin Wisniewski
616 Realty LLC
Buyer's Agent
Drew Denham
Keller Williams GR North (Main)
List Price
$399,000
Sold Price
$318,000
Premium/Discount to List
-$81,000
-20.3%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$238,500
Outstanding Balance
$218,431
Interest Rate
2.8%
Mortgage Type
Commercial
Estimated Equity
$185,632

Purchase Details

Listed on
Jun 12, 2012
Closed on
May 7, 2013
Sold by
Alhaidary Rafah and Alhaidary Muqar
Bought by
Alhaidary Muqar
Seller's Agent
William Templin
Compass Realty Services
Buyer's Agent
Veronica Schemmel
Veronica Schemmel
List Price
$79,000
Sold Price
$42,500
Premium/Discount to List
-$36,500
-46.2%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
26.93%

Purchase Details

Closed on
Dec 3, 2012
Sold by
Select Bank
Bought by
West Michigan Investment Properties Llc

Purchase Details

Closed on
Feb 1, 2010
Sold by
1541 Plainfield Llc
Bought by
Select Bank

Purchase Details

Closed on
Jul 6, 2005
Sold by
1541 Plainfield Llc
Bought by
Pbo Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$800,000
Interest Rate
5.86%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Mar 11, 2004
Sold by
Beckett Michael and Beckett Robin Lynn
Bought by
1541 Plainfield 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
Northern Heritage Proeprties Llc $318,000 None Available
Bryant Ross $145,000 None Available
Northern Heritage Properties Llc $318,000 None Listed On Document
Bryant Ross E $145,000 None Listed On Document
Alhaidary Muqar -- Sun Title Agency Of Mi Llc
Alhaidary Rafah $42,500 Sun Title Agency Of Mi Llc
West Michigan Investment Properties Llc -- None Available
Select Bank -- None Available
Pbo Llc $65,000 --
1541 Plainfield Llc -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Northern Heritage Proeprties Llc $238,500
Closed Northern Heritage Properties Llc $238,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/12/2021 10/12/21 Sold $318,000 -20.3% $146 / Sq Ft
08/25/2021 08/25/21 Pending -- -- --
06/02/2021 06/02/21 For Sale $399,000 +838.8% $183 / Sq Ft
05/08/2013 05/08/13 Sold $42,500 -46.2% $19 / Sq Ft
04/16/2013 04/16/13 Pending -- -- --
06/12/2012 06/12/12 For Sale $79,000 -- $36 / Sq Ft
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 $5,395 $113,300 $0 $0
2024 $5,395 $122,400 $0 $0
2023 $5,157 $103,000 $0 $0
2022 $5,206 $100,400 $0 $0
2021 $3,211 $85,500 $0 $0
2020 $3,093 $70,500 $0 $0
2019 $3,261 $61,100 $0 $0
2018 $2,708 $61,200 $0 $0
2017 $2,642 $57,600 $0 $0
2016 $2,655 $50,400 $0 $0
2015 $2,609 $50,400 $0 $0
2013 -- $48,100 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2021

    Justin Wisniewski

    616 Realty LLC

    (231) 638-1122

    7 in this area

    127 Total Sales

    Justin Wisniewski
    Section Image
  • Caitlyn Wisniewski

    Seller Co-Listing Agent in 2021

    Caitlyn Wisniewski

    616 Realty LLC

    (616) 826-5134

    24 in this area

    363 Total Sales

    Caitlyn Wisniewski
    Section Image
  • Drew Denham

    Buyer's Agent in 2021

    Drew Denham

    Keller Williams GR North (Main)

    (989) 213-7217

    7 in this area

    137 Total Sales

    Drew Denham
    Section Image
  • William Templin

    Seller's Agent in 2013

    William Templin

    Compass Realty Services

    (616) 334-9537

    6 in this area

    58 Total Sales

    William Templin
    Section Image

  • V

    Buyer's Agent in 2013

    Veronica Schemmel

    Veronica Schemmel

    Section Image
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 21020259

Southwestern Michigan Association of REALTORS®

APN: 41-14-18-327-026

Michigan Kent County Grand Rapids 49505 Creston

1541 Plainfield Ave NE, Grand Rapids, MI

This home is located at 1541 Plainfield Ave NE, Grand Rapids, MI 49505 since 02 June 2021 and is currently estimated at $410,948, approximately $188 per square foot. This property was built in 1953. 1541 Plainfield Ave NE is a home located in Kent County with nearby schools including Palmer School, Riverside 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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