NOT LISTED FOR SALE

159 Lane Ave SW Grand Rapids, MI 49504

SWAN Neighborhood

Estimated Value: $264,777 - $327,000

-- Bed
-- Bath
-- Sq Ft
2,352 Sq Ft Lot

Last Sold February 27, 2013

Last sale price $49,500

Est. 512% increase in value since last sale

Current estimated payment $1,857/month

137 Days on Market

About This Home

As of February 2013

Investor opportunity. Building offers 2 large units. Main floor unit offers, 3 bedrooms, 1 bath, living room, mudroom/den/ofc, newer spacious kitchen, fresh paint, newer carpet. Upstairs unit offers 2 bedrooms, 1 bath, living room & kitchen. Each unit also has hook ups for washer & dryer. Tenants pay their own gas, electric & trash. Owner pays water. Kitchen appliances included in the sale. Great location near bus lines for students and easy access to the expressway. Close to downtown, GVSU campus, Kent trails, YMCA fitness center and 3 minutes to Medical Mile. There is a one stall garage for the main floor unit and extra parking for upstairs tenant. Sale subject to tenants rights.

Last Listed By

Gloria Gibson

RE/MAX Brokers Plus - I Listed on: 10/11/2012

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1890

Lot Details

  • 2,352

Parking

  • 2 Parking Spaces

Home Design

  • Composition Roof
  • Aluminum Siding

Utilities

  • Forced Air Heating System
  • Natural Gas Connected

Additional Features

  • Michigan Basement
  • 2,352 Sq Ft Lot

Community Details

  • 3 Units

Listing and Financial Details

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

Property Details

Home Type

Apartment

Year Built

Built in 1890

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • Year Built: 1890
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Michigan Basement

Exterior Features

  • Construction Materials: Aluminum Siding
  • List Price: 85900.0
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Composition

Garage/Parking

  • Total Parking Spaces: 2.0

Utilities

  • Heating: Forced Air
  • Heating: Yes
  • Utilities: Natural Gas Connected

Lot Info

  • Lot Size Acres: 0.05
  • Lot Size Area: 0.05
  • Lot Size Sq Ft: 2352.0
  • Zoning Description: Res

Rental Info

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

Multi Family

  • Number of Units Total: 3

Tax Info

  • Tax Annual Amount: 1949.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 11, 2012
Closed on
Feb 26, 2013
Sold by
159 Lane Llc
Bought by
Grand Rapids Rentals Llc
Seller's Agent
Gloria Gibson
RE/MAX Brokers Plus - I
Buyer's Agent
Paul Schwallier
Great Lakes Signature Prop
List Price
$85,900
Sold Price
$49,500
Premium/Discount to List
-$36,400
-42.37%
Total Days on Market
137
Current Estimated Value
$302,944

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$253,444
Avg. Annual Appreciation
16.39%

Purchase Details

Closed on
Aug 26, 2010
Sold by
Jones Patricia J
Bought by
159 Lane Llc

Purchase Details

Closed on
Dec 16, 2009
Sold by
Vangessel Audrey and Vangessel Wayne
Bought by
Federal National Mortgage Association

Purchase Details

Closed on
Jan 5, 2006
Sold by
Muizelaar Gerald and Muizelaar Anna
Bought by
Vangessel Audrey and Vangessel Wayne

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$80,000
Interest Rate
6.42%
Mortgage Type
Commercial

Purchase Details

Closed on
May 27, 1998
Bought by
Vangessel W and Grand Rapids Rentals Llc

Purchase Details

Closed on
Jul 7, 1982

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
Grand Rapids Rentals Llc $49,500 None Available
159 Lane Llc -- None Available
Jones Patricia J $32,500 Multiple
Federal National Mortgage Association $76,930 None Available
Vangessel Audrey $53,200 None Available
Vangessel W $53,200 --
-- $14,200 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Vangessel Audrey $80,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/27/2013 02/27/13 Sold $49,500 -42.4% --
02/25/2013 02/25/13 Pending -- -- --
10/11/2012 10/11/12 For Sale $85,900 -- --
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
2024 $2,127 $128,500 $0 $0
2023 $2,109 $115,700 $0 $0
2022 $2,005 $96,400 $0 $0
2021 $1,953 $85,800 $0 $0
2020 $1,888 $74,900 $0 $0
2019 $1,933 $59,200 $0 $0
2018 $1,874 $46,100 $0 $0
2017 $1,828 $38,800 $0 $0
2016 $1,837 $37,800 $0 $0
2015 $1,750 $37,800 $0 $0
2013 -- $32,900 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • G

    Seller's Agent in 2013

    Gloria Gibson

    RE/MAX Brokers Plus - I

  • Paul Schwallier

    Buyer's Agent in 2013

    Paul Schwallier

    Great Lakes Signature Prop

    (616) 490-0932

    3 in this area

    139 Total Sales

    Paul Schwallier
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 12055029

Southwestern Michigan Association of REALTORS®

APN: 41-13-26-408-032

Michigan Kent County Grand Rapids 49504 SWAN

159 Lane Ave SW, Grand Rapids, MI

Homes for Sale in Grand Rapids, MI

This home is located at 159 Lane Ave SW, Grand Rapids, MI 49504 since 11 October 2012 and is currently estimated at $302,944. This property was built in 1890. 159 Lane Ave SW is a home located in Kent County with nearby schools including Shawmut Hills School, Westwood 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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