NOT LISTED FOR SALE

205 Homer Rd Concord, MI 49237

Estimated Value: $113,000 - $192,000

Studio
-- Bath
-- Sq Ft
10,454 Sq Ft Lot

Last Sold June 10, 2022

Last sale price $69,500

Est. 119% increase in value since last sale

Current estimated payment $1,024/month

6 Days on Market

Highlights

  • Corner Lot
  • Forced Air Heating System
  • Wood Siding

About This Home

As of June 2022

Located in the beautiful Village of Concord, this duplex is ready for its new owner occupants or investor. Main level features a 2 bedroom and 1 bathroom unit. Upper level features a 1 bedroom and 1 bathroom unit. Both units a large and have large bedrooms. Units are on separate gas/electric meters. Landlord pays water/sewer/trash. Tenants pay gas/electric/lawn. Property is in close proximity to schools, shopping, dining, and more. Current rents below market. At market average, cap rate is estimated at 16% on listing price and 10.3% on future value. Property is being sold as-is and where-is.

Last Agent to Sell the Property

Doug Beiswanger

Coldwell Banker Beiswanger Realty Group License #6502425012 Listed on: 05/17/2022

Last Buyer's Agent

Scott Phillips

Coldwell Banker Groves Real Estate

Coldwell Banker Groves Real Estate

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1900

Lot Details

  • 10,454 Sq Ft Lot
  • Lot Dimensions are 101x167
  • Corner Lot
  • Level Lot

Parking

  • 4 Parking Spaces

Home Design

  • Wood Siding

Basement

  • Basement Fills Entire Space Under The House
  • Crawl Space

Utilities

  • No Cooling
  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Natural Gas Connected
  • Cable TV Available

Listing and Financial Details

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

Community Details

Overview

  • 2 Units
  • Assessors Plat Subdivision

Building Details

  • Insurance Expense $750
  • Maintenance Expense $1,000
  • Utility Expense $720
  • Operating Expense $9,458
  • Gross Income $12,000
  • Net Operating Income $2,542

Property Details

Home Type

Apartment

Year Built

Built in 1900

Lot Details

10,454 Sq Ft Lot

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi Family
  • New Construction: No
  • Year Built: 1900
  • General Property Info:Basement: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Crawl Space, Full
  • Basement: Yes

Exterior Features

  • Construction Materials: Wood Siding
  • List Price: 60000.0
  • Lot Features: Corner Lot, Level, Sidewalk
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Waterfront: No
  • Access Feat:Accessibility Features2: No

Garage/Parking

  • Attached Garage: No
  • Parking Features: Asphalt
  • Total Parking Spaces: 4.0

Utilities

  • Cooling: None
  • Cooling: No
  • Heating: Forced Air
  • Heating: Yes
  • Utilities: Cable Connected, Natural Gas Connected, Phone Connected, Electricity Connected
  • Water Source: Public Water

Lot Info

  • Lot Size Acres: 0.24
  • Lot Size Area: 0.24
  • Lot Dimensions: 101x167
  • Lot Size Sq Ft: 10454.0

Rental Info

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

Multi Family

  • Gross Income: 12000.0
  • Insurance Expense: 750.0
  • Maintenance Expense: 1000.0
  • Net Operating Income: 2542.0
  • Number of Units Total: 2
  • Operating Expense: 9458.0

Tax Info

  • Tax Annual Amount: 1948.0
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 8, 2008
Sold by
Odell Jean Isaac and Allen Theresa E
Bought by
Blake Rita E and Keefer Rita Elaine
Current Estimated Value
$152,135
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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Purchase History

Date Buyer Sale Price Title Company
Blake Rita E -- None Available
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/10/2022 06/10/22 Sold $69,500 +15.8% --
05/23/2022 05/23/22 Pending -- -- --
05/17/2022 05/17/22 For Sale $60,000 -- --
Source: MichRIC

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 $2,896 $62,300 $62,300 $0
2024 $14 $59,900 $59,900 $0
2023 $1,382 $53,800 $53,800 $0
2022 $1,989 $52,600 $52,600 $0
2021 $1,949 $44,200 $44,200 $0
2020 $1,927 $38,500 $0 $0
2019 $1,883 $37,700 $0 $0
2018 $1,429 $36,100 $0 $0
2017 $1,323 $33,400 $0 $0
2016 $302 $34,450 $34,450 $0
2015 -- $27,900 $27,900 $0
2014 -- $26,350 $0 $0
2013 -- $26,350 $26,350 $0
Source: Public Records

Agents Affiliated with this Home

  • Doug Beiswanger

    Seller's Agent in 2022

    Doug Beiswanger

    Coldwell Banker Beiswanger Realty Group

    (517) 914-9555

    435 Total Sales

    Doug Beiswanger
    Section Image

  • S

    Buyer's Agent in 2022

    Scott Phillips

    Coldwell Banker Groves Real Estate

    (517) 320-7917

    31 Total Sales

    Scott Phillips
    Section Image
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Map

Source: MichRIC

MLS Number: 22018469

MichRIC

APN: 003-11-27-327-028-05

Michigan Jackson County Concord 49237

205 Homer Rd, Concord, MI

Not Listed for Sale

MultiFamily

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MichRIC Information is deemed reliable but not guaranteed.
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