NOT LISTED FOR SALE

225 Shepard St Lansing, MI 48912

Fairview Area Neighborhood

Estimated Value: $130,000 - $228,000

4 Beds
3 Baths
1,920 Sq Ft
$84/Sq Ft Est. Value

Last Sold October 20, 2020

Last sale price $98,000 $51 Per Sq Ft

Est. 65% increase in value since last sale

Current estimated payment $897/month

82 Days on Market

Highlights

  • Covered patio or porch
  • 4 Car Detached Garage
  • Forced Air Heating System

About This Home

As of October 2020

HUGE Opportunity to acquire a cash flowing 3 unit investment in the derirable East Side Neighborhood. Two 1 bedroom apartments are upstairs with a large 2 bedroom on the main floor. Separate gas meters and electric meters for each unit! Two tiled showers, hardwood in main floor unit, 2 car garage. Lots of potential to raise rents or leave as is and still get cash flow day one.

Last Agent to Sell the Property

David Hall

Achieve Real Estate LLC License #6502433100 Listed on: 08/12/2020

Last Buyer's Agent

David Hall

Keller Williams Realty Lansing License #6501386398

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1919

Lot Details

  • 4,922 Sq Ft Lot
  • Lot Dimensions are 38.5x127.88

Parking

  • 4 Car Detached Garage

Home Design

  • Shingle Roof
  • Aluminum Siding

Interior Spaces

  • 1,920 Sq Ft Home
  • 2-Story Property

Basement

  • Basement Fills Entire Space Under The House
  • Natural lighting in basement

Outdoor Features

  • Covered patio or porch

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Gas Water Heater

Community Details

  • 3 Units
  • New Taxes Expense $2,588

Listing and Financial Details

  • Total Actual Rent $1,535

Property Details

Home Type

Multi-Family

Year Built

Built in 1919

Lot Details

0

Listing Details

  • Gross Rent: 1535.0
  • Tax Year: 2020
  • Levels: Two
  • Year Built: 1919
  • Lot Size Acres: 0.11
  • Lot Size: 38.5x127.88
  • Subdivision Name: None
  • Above Grade Finished Sq Ft: 1920.0
  • General Property Info:Lot Size Dimensions: 38.5x127.88
  • General Property Info:Above Grade Finished Area: 1920.0
  • Exterior:Aluminum Siding: Yes
  • Levels:Two2: Yes
  • Sewer:Public Sewer: Yes
  • Roof:Shingle: Yes
  • Tax Info:Taxes2: 2588.06
  • Tax Info:Zoning3: Residential
  • Water Heater:Gas Water Heater2: Yes
  • General Property Info:Building 1 Description: 3 UNIT
  • General Property Info:_pound_ of Units: 3
  • Annual Inc Expense:Tax Expense2: 2588.06
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Daylight, Full
  • Heating: Forced Air, Natural Gas
  • Property Type: Resid/Multi-Family
  • Full Basement: Yes
  • Basement:Daylight: Yes

Exterior Features

  • Roof: Shingle
  • Patio And Porch Features: Covered
  • Construction Type: Aluminum Siding
  • Patio Porch Features:Covered: Yes

Garage/Parking

  • Parking Features: Detached
  • Attached Garage: No
  • Parking Features:Detached: Yes
  • Misc Business Info:_pound_ Parking: 4
  • General Property Info:Parking Total: 4

Utilities

  • Sewer: Public Sewer
  • Water Source: Public
  • Heating Yn: Yes
  • Heating:Forced Air: Yes
  • Heating:Natural Gas: Yes

Schools

  • Junior High Dist: Lansing

Lot Info

  • Lot Size Sq Ft: 4922.28
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Carrier Route: 2797

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 13, 2022
Sold by
Hepner Jeremiah
Bought by
Katelyn Grace Hepner And Jeremiah Theodore He
Current Estimated Value
$161,886

Purchase Details

Listed on
Aug 12, 2020
Closed on
Oct 20, 2020
Sold by
Ewen Michael
Bought by
Hepner Jeremiah
Seller's Agent
David Hall
Achieve Real Estate LLC
Buyer's Agent
David Hall
Achieve Real Estate LLC
List Price
$110,000
Sold Price
$98,000
Premium/Discount to List
-$12,000
-10.91%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.85%
Original Mortgage
$78,400
Interest Rate
2.8%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 4, 2008
Sold by
Grabowski Christen R
Bought by
Wells Fargo Bank Na

Purchase Details

Closed on
Feb 6, 2007
Sold by
Grabowski Robert M and Grabowski Jeanne M
Bought by
Grabowski Christen R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$97,750
Interest Rate
12.25%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 18, 2003
Sold by
Grabowski Christen R
Bought by
Grabowski Christen R and Grabowski Robert N

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$75,600
Interest Rate
5.36%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Aug 10, 1999
Sold by
Jones Elodia L
Bought by
Grabowski Christen R
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
Katelyn Grace Hepner And Jeremiah Theodore He -- --
Hepner Jeremiah $98,000 Tri County Title Agency Llc
Wells Fargo Bank Na $79,050 None Available
Grabowski Christen R -- Midstate
Grabowski Christen R -- Trans
Grabowski Christen R $55,700 Midstate Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Hepner Jeremiah $78,400
Previous Owner Grabowski Christen R $97,750
Previous Owner Grabowski Christen R $75,600
Previous Owner Grabowski Christen R $49,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/20/2020 10/20/20 Sold $98,000 -10.9% $51 / Sq Ft
09/29/2020 09/29/20 Pending -- -- --
07/09/2020 07/09/20 For Sale $110,000 -- $57 / Sq Ft
Source: Greater Lansing 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
2024 $37 $64,500 $4,000 $60,500
2023 $4,380 $55,500 $4,000 $51,500
2022 $4,011 $48,500 $3,200 $45,300
2021 $3,919 $46,400 $5,400 $41,000
2020 $2,633 $38,600 $5,400 $33,200
2019 $2,532 $34,300 $5,400 $28,900
2018 $2,412 $30,900 $5,400 $25,500
2017 $2,316 $30,900 $5,400 $25,500
2016 $2,248 $29,600 $5,400 $24,200
2015 $2,248 $27,400 $10,731 $16,669
2014 $2,248 $27,300 $8,346 $18,954
Source: Public Records

Agents Affiliated with this Home

  • David Hall

    Seller's Agent in 2020

    David Hall

    Achieve Real Estate LLC

    (517) 712-8329

    8 in this area

    142 Total Sales

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Map

Source: Greater Lansing Association of Realtors®

MLS Number: 247606

Greater Lansing Association of Realtors®

APN: 01-01-15-432-091

Michigan Ingham County Lansing 48912 Fairview Area

225 Shepard St, Lansing, MI

This home is located at 225 Shepard St, Lansing, MI 48912 since 12 August 2020 and is currently estimated at $161,886, approximately $84 per square foot. This property was built in 1919. 225 Shepard St is a home located in Ingham County with nearby schools including Pattengill Academy, Riddle Elementary School, and Eastern Lansing High School.

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