NOT LISTED FOR SALE

201 N Locust St Unit 203 Wayland, MI 49348

Estimated Value: $373,685 - $406,000

4 Beds
2 Baths
2,482 Sq Ft
$155/Sq Ft Est. Value

Last Sold July 01, 2014

Last sale price $170,000 $68 Per Sq Ft

Est. 127% increase in value since last sale

Current estimated payment $2,581/month

73 Days on Market

About This Home

As of July 2014

Nice opportunity for owner occupant or investment duplex in the city of Wayland. One unit has 3 bedrooms and 1+ Baths, the other 4 bedrooms and 1+ baths. Both basements are plumbed for another bath. Forget about buying a condo, live here and rent out the other side for cheap living.

Last Agent to Sell the Property

Brett Sloan

Weichert REALTORS Plat(Dorr) Listed on: 03/28/2014

Last Buyer's Agent

Gerald Hampel

Greenridge Realty (Cascade) License #6501147841

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $4,226

Year Built

  • Built in 2002

Lot Details

  • 0.29

Parking

  • 4 Parking Spaces

Home Design

  • Composition Roof

Utilities

  • Forced Air Heating System
  • Cable TV Available

Additional Features

  • Natural lighting in basement
  • 0.29 Acre Lot

Listing and Financial Details

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

Community Details

Overview

  • 3 Units

Building Details

  • Insurance Expense $583
  • Operating Expense $4,809
  • Gross Income $22,200
  • Net Operating Income $17,391

Property Details

Home Type

Apartment

Est. Annual Taxes

$4,226

Year Built

Built in 2002

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 2002
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Daylight

Exterior Features

  • List Price: 179900.0
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Composition

Garage/Parking

  • Total Parking Spaces: 4.0

Utilities

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

Lot Info

  • Lot Size Acres: 0.29
  • Lot Size Area: 0.29
  • Lot Size Sq Ft: 12632.0
  • Zoning Description: r2

Rental Info

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

Multi Family

  • Gross Income: 22200.0
  • Insurance Expense: 583.0
  • Net Operating Income: 17391.0
  • Number of Units Total: 3
  • Operating Expense: 4809.0

Tax Info

  • Tax Annual Amount: 4226.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 28, 2014
Closed on
Jun 30, 2014
Sold by
Green River Properties Llc
Bought by
Winger Jerry L and Winger Karen J
Seller's Agent
Brett Sloan
Weichert REALTORS Plat(Dorr)
Buyer's Agent
Gerald Hampel
Greenridge Realty (Cascade)
List Price
$187,500
Sold Price
$170,000
Premium/Discount to List
-$17,500
-9.33%
Current Estimated Value
$385,171

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$215,171
Avg. Annual Appreciation
7.44%

Purchase Details

Closed on
Apr 28, 2003
Sold by
The Gloria E Low Trust
Bought by
Green River Properties Llc

Purchase Details

Closed on
Nov 3, 1995
Sold by
Low David D and Low Wf
Bought by
Low Gloria E Trust
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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
Winger Jerry L $169,500 Chicago Title
Green River Properties Llc -- Chicago Title
Low Gloria E Trust -- --
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/01/2014 07/01/14 Sold $170,000 -9.3% $68 / Sq Ft
06/09/2014 06/09/14 Pending -- -- --
03/28/2014 03/28/14 For Sale $187,500 -- $76 / Sq Ft
Source: MichRIC

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 $6,616 $180,700 $11,500 $169,200
2024 $6,010 $165,300 $9,300 $156,000
2023 $6,010 $156,200 $8,500 $147,700
2022 $6,010 $110,600 $8,500 $102,100
2021 $5,788 $104,800 $7,800 $97,000
2020 $5,788 $108,000 $7,800 $100,200
2019 $0 $106,200 $7,200 $99,000
2018 $0 $89,500 $7,200 $82,300
2017 $0 $91,200 $7,200 $84,000
2016 $0 $83,900 $7,400 $76,500
2015 -- $83,900 $7,400 $76,500
2014 -- $76,600 $7,400 $69,200
2013 -- $73,000 $7,400 $65,600
Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2014

    Brett Sloan

    Weichert REALTORS Plat(Dorr)

  • G

    Buyer's Agent in 2014

    Gerald Hampel

    Greenridge Realty (Cascade)

    (616) 299-5496

    17 Total Sales

    Gerald Hampel
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Map

Source: MichRIC

MLS Number: 14013674

MichRIC

APN: 56-250-022-00

Michigan Allegan County Wayland 49348

201 N Locust St Unit 203, Wayland, MI

Not Listed for Sale

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