NOT LISTED FOR SALE

200 N Michigan St La Paz, IN 46537

5 Beds
4.5 Baths
6,106 Sq Ft
0.27 Acres

Last Sold December 03, 2021

Last sale price $130,000 $21 Per Sq Ft

116 Days on Market

Highlights

  • Forced Air Heating and Cooling System
  • Level Lot
  • Carpet

About This Home

As of December 2021

Rare opportunity to settle estate. Five rental units. Could be residential or other multiple uses, as property is zoned Commercial. Former uses include drug store, restaurant, and beauty shop - the possibilities are limitless. Great spot for a Mom and Pop shop. Signage available. Two units (C and D) need updating, approximately 2,900 SF or could be suited for retail or climate controlled indoor storage. Two units currently rented (A and B, interior pictures of these two not posted), Unit E is move in ready and was occupied by previous owner. Great La Paz location close to schools and Newton Park. *Important note - This is an estate now. NET INCOME is based off low rents because previous owner was kind and kept rents low. There IS market to have the rents raised. This same owner also occupied one of the units so the income does not reflect his portion of an additional rent. When figuring net incomes, please add in for an additional unit of rent.

Last Agent to Sell the Property

Dave Goebel

RE/MAX OAK CREST -PLYMOUTH Listed on: 07/15/2021

RE/MAX OAK CREST -PLYMOUTH

Co-Listed By

Samuel Goebel

RE/MAX OAK CREST -PLYMOUTH

Last Buyer's Agent

Dave Goebel

RE/MAX OAK CREST -PLYMOUTH Listed on: 07/15/2021

RE/MAX OAK CREST -PLYMOUTH

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,996

Year Built

  • Built in 1920

Lot Details

  • 0.27 Acre Lot
  • Lot Dimensions are 135x75x140x94
  • Level Lot

Home Design

  • Concrete Siding
  • Block Exterior

Interior Spaces

  • 2-Story Property

Flooring

  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 5 Bedrooms

Parking

  • 10 Parking Spaces
  • Paved Parking
  • Off-Street Parking

Location

  • Suburban Location

Utilities

  • Forced Air Heating and Cooling System
  • Window Unit Cooling System
  • Heating System Uses Gas
  • Well

Listing and Financial Details

  • Tenant pays for electric
  • The owner pays for heating, maintenance, sewer, trash collection, water
  • Assessor Parcel Number 50-52-94-304-044.000-010

Community Details

Overview

  • 5 Units

Building Details

  • Electric Expense $1,800
  • Fuel Expense $3,600
  • Insurance Expense $2,100
  • Maintenance Expense $1,000
  • Trash Expense $684
  • Water Sewer Expense $1,692

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,996

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Class: INVESTMENT
  • Property Sub Type: Fiveplex
  • Year Built: 1920
  • Age: 101
  • Style: Two Story
  • Bedrooms: 5
  • Number Above Grade Bedrooms: 5
  • Total Bathrooms: 5
  • Total Full Bathrooms: 4
  • Total Number of Half Bathrooms: 1
  • Legal Description: 50-52-94-304-042.000-010 is 3rd parcel. Fairview Addition, lot 1, 2, and 3.
  • Parcel Number ID: 50-52-94-304-044.000-010
  • Platted: Yes
  • Amenities: Off Street Parking
  • Location: City/Town/Suburb
  • Parcel Id2: 50-52-94-304-043.000-010
  • Sp Lp Percent: 76.92
  • Annual Miscellaneous: 500
  • Monthly Gross Income: 800
  • Special Features: None

Interior Features

  • Total Sq Ft: 6346
  • Total Finished Sq Ft: 6106
  • Above Grade Finished Sq Ft: 6106
  • Above Grade Unfinished Sq Ft: 240
  • Price Per Sq Ft: 21.29
  • Flooring: Carpet, Laminate, Mixed

Exterior Features

  • Exterior: Aluminum, Block, Concrete
  • Stories: 2

Garage/Parking

  • Number Of Parking Spaces: 10
  • Parking: Off Street, Paved

Utilities

  • Cooling: Central Air, Window
  • Heating Fuel: Gas, Forced Air
  • Sewer: Public
  • Water Utilities: Well
  • Annual Electric: 1800
  • Annual Fuel Expense: 3600
  • Annual Insurance Expense: 2100
  • Annual Maintenance Expense: 1000
  • Annual Trash Expense: 684
  • Annual Water Sewer Expense: 1692

Schools

  • School District: Union-North United School Corp.
  • Elementary School: Laville
  • Middle School: Laville
  • High School: Laville

Lot Info

  • Lot Description: Level
  • Lot Dimensions: 135x75x140x94
  • Estimated Lot Sq Ft: 11761
  • Estimated Lot Size Acres: 0.27

Rental Info

  • Lease Term: Month to Month, 1 Year
  • Owner Pays: Heating, Maintenance, Sewer, Trash Collection, Water
  • Tenant Pays: Electric

Multi Family

  • Gross Monthly Rent: 800
  • Number Of Units: 5
  • Num Of1 Bedrooms: 1
  • Num Of2 Bedrooms: 2
  • Num Of Units Rented: 2

Tax Info

  • Annual Property Tax: 1996

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 15, 2021
Closed on
Nov 29, 2021
Sold by
Gilbert Eldred H and Gilbert Terry L
Bought by
Tillman Gary and Tillman-Craig Kaitlin
Seller's Agent
Dave Goebel
RE/MAX OAK CREST -PLYMOUTH
Buyer's Agent
Dave Goebel
RE/MAX OAK CREST -PLYMOUTH
List Price
$169,000
Sold Price
$130,000
Premium/Discount to List
-$39,000
-23.08%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$65,000
Interest Rate
3.11%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 5, 2011
Sold by
Gilbert Sandra M and Gilbert Sandra Powell
Bought by
Gilbert Eldred H
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
Tillman Gary -- None Listed On Document
Gilbert Eldred H -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Tillman Gary $65,000
Previous Owner Gilbert Eldred H $26,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/03/2021 12/03/21 Sold $130,000 -23.1% $21 / Sq Ft
11/08/2021 11/08/21 Pending -- -- --
11/04/2021 11/04/21 For Sale $169,000 0.0% $28 / Sq Ft
11/04/2021 11/04/21 Price Changed $169,000 +30.0% $28 / Sq Ft
10/11/2021 10/11/21 Off Market $130,000 -- --
08/27/2021 08/27/21 Price Changed $199,500 -4.8% $33 / Sq Ft
07/15/2021 07/15/21 For Sale $209,500 -- $34 / Sq Ft
Source: Indiana Regional MLS

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 $2,335 $104,700 $22,900 $81,800
2022 $2,335 $112,300 $22,900 $89,400
2021 $1,548 $70,100 $5,300 $64,800
2020 $1,544 $70,100 $5,300 $64,800
2019 $1,434 $67,300 $5,100 $62,200
2018 $1,404 $65,600 $5,100 $60,500
2017 $1,271 $62,600 $5,100 $57,500
2016 $1,317 $64,800 $7,300 $57,500
2014 $1,033 $53,300 $7,300 $46,000
Source: Public Records

Agents Affiliated with this Home

  • Dave Goebel

    Seller's Agent in 2021

    Dave Goebel

    RE/MAX

    (574) 936-7616

    131 Total Sales

    Section Image
  • Samuel Goebel

    Seller Co-Listing Agent in 2021

    Samuel Goebel

    RE/MAX

    (574) 546-4000

    26 Total Sales

    Section Image
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Map

Source: Indiana Regional MLS

MLS Number: 202128661

Indiana Regional MLS

APN: 50-52-94-304-043.000-010

Indiana Marshall County La Paz 46537

200 N Michigan St, La Paz, IN

This home is located at 200 N Michigan St, La Paz, IN 46537 since 15 July 2021. This property was built in 1920. 200 N Michigan St is a home located in Marshall County with nearby schools including LaVille Elementary School and LaVille Junior - Senior 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.

Indiana Regional MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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