Seller's Agent in 2021
Christopher Silker
Keller Williams Realty Lansing
(517) 242-9251
18 in this area
290 Total Sales
1617 N Hagadorn Rd East Lansing, MI 48823
Estimated Value: $282,000 - $309,000
6
Beds
2
Baths
2,632
Sq Ft
$114/Sq Ft
Est. Value
Highlights
- Traditional Architecture
- Forced Air Heating and Cooling System
- High Speed Internet
- Whitehills Elementary School Rated A
About This Home
As of December 2021This property is one of 4 duplexes all next to each other on N Hagadorn in East Lansing, each with class IV License. Total cost for the full portfolio is $1,000,000.00 All units are fully occupied. Each has a 1 car attached garage, A/C, walk-out basement, large backyards, and newer roofs. These are excellent investments with no vacancy history. Due to long term tenants, rents are a little below market average of $1,300.00 At current rents, gross income for all properties is $98,880 a year with an estimated NOI of $39,111.00 At market rent rates that would be gross income of $124320.00 with an estimated NOI of $64551.00 These numbers are estimates only based on information provided by property management and do not consider financing expenses.
Last Listed By
Keller Williams Realty Lansing License #6506046369 Listed on: 10/14/2021
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1977
Lot Details
- 0.44 Acre Lot
- Lot Dimensions are 95x200
Parking
- 2 Car Garage
- Additional Parking
Home Design
- Traditional Architecture
- Shingle Roof
- Aluminum Siding
- Concrete Perimeter Foundation
Interior Spaces
- 2,632 Sq Ft Home
- 2-Story Property
Basement
- Walk-Out Basement
- Basement Fills Entire Space Under The House
- Laundry in Basement
Utilities
- Forced Air Heating and Cooling System
- Heating System Uses Natural Gas
- 100 Amp Service
- Gas Water Heater
- High Speed Internet
- Cable TV Available
Listing and Financial Details
- Total Actual Rent $23,820
Community Details
Overview
- 2 Units
Building Details
- Insurance Expense $1,100
- Maintenance Expense $3,100
- New Taxes Expense $8,618
- Net Operating Income $7,429
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 14, 2021
Closed on
Dec 21, 2021
Sold by
William J Campbell Trust
Bought by
Prajapati Vikram Jivrajbhai
Seller's Agent
Christopher Silker
Keller Williams Realty Lansing
Buyer's Agent
Kalyn HoughBlack
RE/MAX Real Estate Professionals
List Price
$230,000
Sold Price
$213,000
Premium/Discount to List
-$17,000
-7.39%
Total Days on Market
93
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$87,980
Avg. Annual Appreciation
10.95%
Original Mortgage
$159,750
Outstanding Balance
$131,322
Interest Rate
2.34%
Mortgage Type
New Conventional
Estimated Equity
$170,973
Purchase Details
Closed on
Oct 17, 2002
Sold by
Campbell Emilie J
Bought by
Campbell Emilie J and Campbell William J
Purchase Details
Closed on
Jan 1, 1978
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Prajapati Vikram Jivrajbhai | $213,000 | Transnation Title | |
| Campbell Emilie J | -- | -- | |
| Campbell William J | -- | -- | |
| -- | $86,500 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Prajapati Vikram Jivrajbhai | $159,750 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/27/2021 12/27/21 | Sold | $213,000 | -7.4% | $81 / Sq Ft |
| 11/04/2021 11/04/21 | Pending | -- | -- | -- |
| 10/14/2021 10/14/21 | For Sale | $230,000 | 0.0% | $87 / Sq Ft |
| 08/26/2021 08/26/21 | Pending | -- | -- | -- |
| 08/13/2021 08/13/21 | Price Changed | $230,000 | -11.5% | $87 / Sq Ft |
| 08/03/2021 08/03/21 | For Sale | $260,000 | -- | $99 / Sq Ft |
Source: Greater Lansing Association of Realtors®
Tax History Compared to Growth
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 | $66 | $116,600 | $40,300 | $76,300 |
| 2023 | $7,057 | $105,000 | $37,300 | $67,700 |
| 2022 | $6,752 | $121,800 | $30,400 | $91,400 |
| 2021 | $8,720 | $121,800 | $30,400 | $91,400 |
| 2020 | $8,618 | $121,800 | $28,800 | $93,000 |
| 2019 | $8,312 | $121,800 | $29,300 | $92,500 |
| 2018 | $8,846 | $121,800 | $24,400 | $97,400 |
| 2017 | $8,534 | $121,800 | $25,000 | $96,800 |
| 2016 | -- | $127,000 | $24,100 | $102,900 |
| 2015 | -- | $121,000 | $47,170 | $73,830 |
| 2014 | -- | $115,200 | $46,073 | $69,127 |
Source: Public Records
Agents Affiliated with this Home
-
Christopher Silker
-
Kalyn HoughBlack
Buyer's Agent in 2021
Kalyn HoughBlack
RE/MAX Michigan
(517) 647-9794
18 in this area
61 Total Sales
Map
Source: Greater Lansing Association of Realtors®
MLS Number: 258207
APN: 20-02-07-215-022
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