NOT LISTED FOR SALE

1572 Lake Dr SE Grand Rapids, MI 49506

Eastown Neighborhood

Estimated Value: $606,192

-- Bed
4 Baths
-- Sq Ft
0.6 Acres

Last Sold June 20, 2016

Last sale price $305,000

Est. 99% increase in value since last sale

Current estimated payment $4,226/month

9 Days on Market

Highlights

  • 0.6 Acre Lot
  • Hot Water Heating System
  • Heating System Uses Steam
  • Corner Lot: Yes
  • 5 Car Garage
  • Wood Siding

About This Home

As of June 2016

Big potential with this 5-unit. Gross monthly rents $4,275.00 with room to increase. All units are occupied. Always easy to rent. City cert through 7/31/16. Shared laundry in basement. Detached garage for tenant use/parking. Needs a new roof. All units are 1 bed/1 bath, except #1 which is 2 beds/1 bath. Tenants pay electric and trash. Landlord pays gas, water and lawncare. Boiler heat (appox. 20 yrs old). Single 80 Gal. water heater. Original screw fuse electrical. All offers will be subject to review and approval of Sellers Attorney.

Last Agent to Sell the Property

Kevin Wright

Qwest Realty Consultants License #6502338611 Listed on: 05/25/2016

Last Buyer's Agent

Ryan Ogle

Bluhouse Properties LLC - I License #6502376991

Bluhouse Properties LLC - I

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1917

Lot Details

  • 0.6 Acre Lot
  • Lot Dimensions are 170.4x127x131x221
  • Corner Lot: Yes

Parking

  • 5 Car Garage

Home Design

  • Composition Roof
  • Wood Siding

Basement

  • Basement Fills Entire Space Under The House

Utilities

  • No Cooling
  • Heating System Uses Natural Gas
  • Hot Water Heating System
  • Heating System Uses Steam
  • Cable TV Available

Community Details

  • 5 Units

Listing and Financial Details

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

Property Details

Home Type

Multi-Family

Year Built

Built in 1917

Lot Details

0

Listing Details

  • Property Sub-Type: 5+ Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1917
  • Location Property Info:Property Sub-Type: 5+ Units
  • General Property Info:New Construction2: No
  • General Property Info:Lot Dimensions: 170.4x127x131x221
  • General Property Info:Waterfront3: No
  • General Property Info:Basement: Yes
  • Tax Info:Annual Property Tax: 8179.74
  • Tax Info:Zoning3: Res
  • General Property Info:Total _pound_ Units: 5
  • General Property Info:Total _pound_ Bldgs: 1.0
  • Roofing:Composition: Yes
  • Substructure:Full: Yes
  • Utilities Attached:Electric4: Yes
  • Heat Source:Natural Gas3: Yes
  • Util Avail at Street:Public Sewer: Yes
  • Util Avail at Street:Public Water: Yes
  • Utilities Attached:Cable: Yes
  • Utilities Attached:Natural Gas: Yes
  • Sewer:Public: Yes
  • Water:Public2: Yes
  • Lot Description:Corner Lot: Yes
  • Heat Type:Hot Water: Yes
  • Heat Type:Steam: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Basement

Exterior Features

  • Construction Materials: Wood Siding
  • List Price: 325000.0
  • Lot Features: Sidewalk
  • Number of Buildings: 1
  • Roof: Composition
  • Waterfront: No
  • Access Feat:Accessibility Features2: No
  • Exterior Material:Wood Siding: Yes

Garage/Parking

  • Total Parking Spaces: 5.0
  • General Property Info:Total Parking Spaces: 5.0
  • Extras:Garages: Yes

Utilities

  • Cooling: None
  • Cooling: No
  • Heating: Steam, Hot Water, Natural Gas
  • Heating: Yes
  • Utilities: Cable Connected, Public Water, Public Sewer

Lot Info

  • Lot Size Acres: 0.6
  • Lot Size Area: 0.6
  • Lot Size Sq Ft: 25918.0
  • Zoning Description: Res
  • ResoLotSizeUnits: Acres

Rental Info

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

Multi Family

  • Number of Units Total: 5

Tax Info

  • Tax Annual Amount: 8179.74
  • Tax Year: 2015

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 25, 2016
Closed on
Jun 20, 2016
Sold by
E & G Propeties Llc
Bought by
1572 Lake Llc
Seller's Agent
Kevin Wright
Qwest Realty Consultants
Buyer's Agent
Ryan Ogle
Bluhouse Properties LLC - I
List Price
$325,000
Sold Price
$305,000
Premium/Discount to List
-$20,000
-6.15%
Current Estimated Value
$606,192

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$301,192
Avg. Annual Appreciation
7.25%

Purchase Details

Closed on
Jan 24, 2005
Sold by
Kochaney Glen A and Kochaney Erica A
Bought by
E & G Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$232,000
Interest Rate
5.47%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 3, 2004
Sold by
E & G Properties Llc
Bought by
Kochaney Glen A and Kochaney Erica A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$220,000
Interest Rate
5.74%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 26, 2003
Sold by
Kochaney Glen A
Bought by
E & G Properties Llc

Purchase Details

Closed on
Sep 29, 2000
Sold by
Antvlnk Antvlnk G G and Antvlnk J
Bought by
Kochaney Glen and E&G Properties Llc

Purchase Details

Closed on
Oct 25, 1994
Sold by
Ernzer Ernzer P P and Ernzer Antvelink G
Bought by
E&G Properties 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
1572 Lake Llc -- Sun Title Agency Of Mi Llc
E & G Properties Llc -- --
Kochaney Glen A -- --
E & G Properties Llc -- --
Kochaney Glen $250,000 --
E&G Properties Llc $77,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner E & G Properties Llc $232,000
Previous Owner Kochaney Glen A $15,000
Previous Owner Kochaney Glen A $220,000
Closed E & G Properties Llc $228,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/20/2016 06/20/16 Sold $305,000 -6.2% --
06/03/2016 06/03/16 Pending -- -- --
05/25/2016 05/25/16 For Sale $325,000 -- --
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 $10,533 $273,700 $0 $0
2024 $10,533 $283,300 $0 $0
2023 $10,427 $257,900 $0 $0
2022 $9,928 $224,300 $0 $0
2021 $9,671 $206,600 $0 $0
2020 $9,376 $206,600 $0 $0
2019 $9,580 $181,300 $0 $0
2018 $9,313 $172,100 $0 $0
2017 $9,106 $140,800 $0 $0
2016 $6,192 $126,300 $0 $0
2015 $8,180 $126,300 $0 $0
2013 -- $111,800 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • K

    Seller's Agent in 2016

    Kevin Wright

    Qwest Realty Consultants

    (616) 954-5900

    25 Total Sales

    Section Image

  • R

    Buyer's Agent in 2016

    Ryan Ogle

    Bluhouse Properties LLC - I

    Section Image
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 16018044

Southwestern Michigan Association of REALTORS®

APN: 41-14-32-235-001

Michigan Kent County Grand Rapids 49506 Eastown

1572 Lake Dr SE, Grand Rapids, MI

This home is located at 1572 Lake Dr SE, Grand Rapids, MI 49506 since 25 May 2016 and is currently estimated at $606,192. This property was built in 1917. 1572 Lake Dr SE is a home located in Kent County with nearby schools including Campus Elementary School, Alger Middle School, and Ottawa Hills 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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