$42,500
SOLD MAY 8, 2013

1541 Plainfield Ave NE Grand Rapids, MI 49505

Creston Neighborhood
-- Bed
-- Bath
2,182 Sq Ft
3,432 Sq Ft Lot

Recently Sold

$19 Per Sq Ft

46% Below List Price

308 Days on Market

About This Home

As of October 2021

3 Unit In The Creston Heights Business District. Upper Unit Is A large 1 Bedroom With Spacious Living Room And Kitchen With Dining Area. Very Large Bathroom And Lots Of Storage. Front And Back Entrance For This Unit. Lower Unit Is A 2 Bedroom Unit With Laundry Room, Kitchen With Eating Area. Both Currently rented. 3rd Unit Is Approximately 600 Sq. Ft Commercial Space With Prime Frontage On Plainfield. The Options Are Endless for the commercial space. Close To Dining, Shopping And Entertainment. Only 5 Min. From The Heart Of Downtown And Close To Highway To Get To The Rest Of The City. Great Opportunity For Investment. Tenant rights. Both apartments leased through April of 2014. Buyer to verify all information. Bank owned and sold as is.

Last Agent to Sell the Property

William Templin

Compass Realty Services License #6501326301 Listed on: 06/12/2012

Compass Realty Services

Last Buyer's Agent

Veronica Schemmel

Veronica Schemmel License #6501253807

Veronica Schemmel

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1930

Parking

  • 2 Parking Spaces

Home Design

  • Composition Roof
  • Rubber Roof
  • Wood Siding

Utilities

  • Forced Air Heating System
  • Natural Gas Connected
  • Cable TV Available

Additional Features

  • Michigan Basement
  • 3,432 Sq Ft Lot

Listing and Financial Details

  • Tenant pays for electricity, trash collection
  • The owner pays for water, sewer, gas

Community Details

Overview

  • 3 Units

Building Details

  • Maintenance Expense $500
  • Manager Expense $1,800
  • Gross Income $18,000

Property Details

Home Type

Apartment

Year Built

Built in 1930

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1930
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Michigan Basement

Exterior Features

  • Construction Materials: Wood Siding, Block
  • List Price: 69000.0
  • Lot Features: Sidewalk
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Composition, Rubber

Garage/Parking

  • Total Parking Spaces: 2.0

Utilities

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

Lot Info

  • Lot Size Acres: 0.08
  • Lot Size Area: 0.08
  • Lot Size Sq Ft: 3432.0
  • Zoning Description: COMMERCIAL

Rental Info

  • Owner Pays: Water, Sewer, Gas
  • Tenant Pays: Electricity, Trash Collection

Multi Family

  • Gross Income: 18000.0
  • Maintenance Expense: 500.0
  • Manager Expense: 1800.0
  • Number of Units Total: 3

Tax Info

  • Tax Annual Amount: 1618.0

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 Type Sale Price Title Company
Warranty Deed $318,000 None Available
Warranty Deed $145,000 None Available
Warranty Deed $318,000 None Listed On Document
Warranty Deed $145,000 None Listed On Document
Interfamily Deed Transfer -- Sun Title Agency Of Mi Llc
Warranty Deed $42,500 Sun Title Agency Of Mi Llc
Warranty Deed -- None Available
Warranty Deed -- None Available
Warranty Deed $65,000 --
Warranty Deed -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $238,500 Commercial
Closed $238,500 New Conventional
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
See All Agents

Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 12032756

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 and is currently priced at $42,500, approximately $19 per square foot. This property was built in 1930. 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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