$215,000
SOLD AUG 11, 2023
-- Bed
-- Bath
-- Sq Ft
8,700 Sq Ft Lot

Recently Sold

4% Below List Price

3 Days on Market

Highlights

  • 1 Fireplace
  • Lot Has A Rolling Slope
  • Heating System Uses Natural Gas
  • High Speed Internet
  • Wood Siding

About This Home

As of August 2023

Retirement is the only reason this 6-unit investment property with outstanding cash flow is on the market. It's older but has been well cared for and has a great rental history.
Tenants are currently month-to-month but most are interested in staying.
Property includes 2 2-bedroom units with hardwood floors and high ceilings, 2 1-bedroom units, and 2 studios with the same attributes. Tenants appreciate the covered back porch and off-street parking, plus the convenience of being just blocks from downtown.

Last Agent to Sell the Property

Paul McIntyre

Five Star Real Estate License #6501350116 Listed on: 07/10/2023

Five Star Real Estate

Last Buyer's Agent

Skyler Sebring

eXp Realty LLC

eXp Realty LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,814

Year Built

  • Built in 1920

Lot Details

  • 8,700 Sq Ft Lot
  • Lot Dimensions are 66.10' x 131.62'
  • Lot Has A Rolling Slope

Home Design

  • Composition Roof
  • Wood Siding
  • Aluminum Siding

Interior Spaces

  • 1 Fireplace

Basement

  • Walk-Out Basement
  • Michigan Basement
  • Partial Basement
  • Crawl Space

Parking

  • 6 Parking Spaces
  • Gravel Driveway

Utilities

  • No Cooling
  • Heating System Uses Natural Gas
  • Radiant Heating System
  • Shared Gas Meter
  • High Speed Internet
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • The owner pays for water, sewer, gas

Community Details

Overview

  • 6 Units
  • North Meachem Subdivision

Building Details

  • Insurance Expense $500
  • Maintenance Expense $2,790
  • Utility Expense $93,000
  • Operating Expense $17,005
  • Gross Income $29,100

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,814

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Property Sub-Type: 5+ Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1920
  • Location Property Info:Property Sub-Type: 5+ Units
  • General Property Info:New Construction2: No
  • General Property Info:Lot Dimensions: 66.10' x 131.62'
  • General Property Info:Waterfront3: No
  • General Property Info:Basement: Yes
  • Tax Info:Annual Property Tax: 2813.87
  • Waterfront Options:Water Access YN: No
  • General Property Info:Total _pound_ Units: 6
  • General Property Info:Total _pound_ Bldgs: 1.0
  • Roofing:Composition: Yes
  • Utilities Attached:Electric4: Yes
  • Heat Source:Natural Gas3: Yes
  • Substructure:Partial: Yes
  • Utilities Attached:Cable: Yes
  • Utilities Attached:Natural Gas: Yes
  • Sewer:Public: Yes
  • Water:Public2: Yes
  • Util Avail at Street:Broadband: Yes
  • Util Avail at Street:Cable2: Yes
  • Util Avail at Street:Telephone Line2: Yes
  • Lot Description:Rolling Hills: Yes
  • Heat Type:Radiant: Yes
  • Location Property Info:Subdivision2: North Meachem
  • Substructure:Walk Out: Yes
  • Substructure:Michigan Basement: Yes
  • Substructure:Crawl Space: Yes
  • Extras:Sep Gas Meter: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplaces: 1
  • Basement: Crawl Space, Michigan Basement, Walk Out, Partial

Exterior Features

  • Construction Materials: Aluminum Siding, Wood Siding
  • List Price: 225000.0
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Composition
  • Topography: {"Rolling Hills":true}
  • Waterfront: No
  • Access Feat:Accessibility Features2: No
  • Exterior Material:Aluminum Siding: Yes
  • Exterior Material:Wood Siding: Yes

Garage/Parking

  • Attached Garage: No
  • Parking Features: Aggregate, Driveway, Concrete
  • Total Parking Spaces: 6.0
  • General Property Info:Total Parking Spaces: 6.0

Utilities

  • Cooling: None
  • Cooling: No
  • Heating: Radiant, Natural Gas
  • Heating: Yes
  • Sewer: Public Sewer
  • Water Source: Public

Lot Info

  • Lot Size Acres: 0.2
  • Lot Size Area: 0.2
  • Lot Dimensions: 66.10' x 131.62'
  • Lot Size Sq Ft: 8700.0
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Water, Sewer, Gas

Multi Family

  • Gross Income: 29100.0
  • Insurance Expense: 500.0
  • Maintenance Expense: 2790.0
  • Number of Units Total: 6
  • Operating Expense: 17005.0

Tax Info

  • Tax Annual Amount: 2813.87
  • Tax Year: 2023

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 10, 2023
Closed on
Aug 11, 2023
Sold by
Wilson Jeffrey M and Nutting-Wilson Wendy
Bought by
Ekam & Reet Inc
Seller's Agent
Paul McIntyre
Five Star Real Estate
Buyer's Agent
Skyler Sebring
eXp Realty LLC
List Price
$225,000
Sold Price
$215,000
Premium/Discount to List
-$10,000
-4.44%
Views
17

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
25.34%

Purchase Details

Closed on
Jan 20, 1988
Sold by
Maccalla Thomas C and Maccalla Alice
Bought by
Wilcare Inc
Source: Public Records

Range of Values:

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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 Type Sale Price Title Company
Warranty Deed $215,000 None Listed On Document
Warranty Deed $25,000 None Listed On Document
Warranty Deed $14,000 None Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/20/2025 06/20/25 Price Changed $349,900 -12.3% --
12/05/2024 12/05/24 Price Changed $399,000 -11.3% --
09/12/2024 09/12/24 For Sale $450,000 +109.3% --
08/11/2023 08/11/23 Sold $215,000 -4.4% --
07/13/2023 07/13/23 Pending -- -- --
07/10/2023 07/10/23 For Sale $225,000 -- --
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
2025 -- $90,700 $0 $0
2024 $3,143 $66,674 $0 $0
2023 $2,814 $71,012 $0 $0
2022 $1,999 $58,618 $0 $0
2021 $2,673 $50,399 $0 $0
2020 $2,470 $45,275 $0 $0
2019 $2,480 $40,673 $0 $0
2018 $2,480 $38,197 $2,176 $36,021
2017 $1,524 $38,725 $0 $0
2016 $1,144 $32,107 $0 $0
2015 $1,121 $31,894 $0 $0
2014 $1,121 $31,894 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 23024077

Southwestern Michigan Association of REALTORS®

APN: 5880-00-047-0