NOT LISTED FOR SALE

229 N Madison Ave Bay City, MI 48708

Estimated Value: $128,000 - $173,815

7 Beds
3 Baths
2,880 Sq Ft
$51/Sq Ft Est. Value

Last Sold December 20, 2018

Last sale price $68,000 $24 Per Sq Ft

Est. 114% increase in value since last sale

Current estimated payment $940/month

25 Days on Market

Highlights

  • Porch
  • Forced Air Heating System
  • 4-minute walk to Birney Park

About This Home

As of December 2018

Some Serious Cash Flow and MONEY MAKER. This Property has a $1800 per month Lease agreement for the last 9 years. They Wish to remain and Keep Lease. Separate Utilities except water are paid by Occupants. Nothing to do but minor maintenance and Mowing. Decent Roof and Maintenance free vinyl exterior. Some Vinyl windows. Updated furnaces. Just relax and collect 1 Rent Check. Cute Yard for tenants.

Last Agent to Sell the Property

Wade Eckenrod

RE/MAX Results License #BCRA-6506034867 Listed on: 09/13/2018

RE/MAX Results

Last Buyer's Agent

Wade Eckenrod

RE/MAX Results License #BCRA-6506034867 Listed on: 09/13/2018

RE/MAX Results

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1900

Lot Details

  • 8,276 Sq Ft Lot
  • Lot Dimensions are 75 x 100

Parking

  • 3 Car Parking Spaces

Home Design

  • Vinyl Siding

Interior Spaces

  • 2-Story Property
  • Basement
  • Brick Basement
  • Oven or Range

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 3 Full Bathrooms

Outdoor Features

  • Porch

Utilities

  • Window Unit Cooling System
  • Forced Air Heating System
  • Separate Meters
  • Gas Water Heater

Community Details

  • 3 Units

Listing and Financial Details

  • Assessor Parcel Number 160-028-208-024-00

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,065

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Originating MLS: Bay County REALTOR Association
  • Class: MULTIFAMILY
  • Type: 1 To 4 Units
  • Type Of Property: Multi-Family
  • Structure Style: 2 Story
  • Total Tax Amount: 1807.66
  • Total Tax Year: 2017
  • Year Built: 1900
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Range/Oven, Refrigerator
  • Basement: Yes
  • Basement Type: Brick
  • Bedrooms: 7
  • Full Bathrooms: 3
  • Total Bathrooms: 3

Exterior Features

  • Construction: Vinyl Siding
  • Exterior Features: Porch
  • Foundation Type: Basement

Garage/Parking

  • Parking: 3 Or More Spaces

Utilities

  • Water: Public Water
  • Water Heater: Gas
  • Cooling System: Window Unit(s)
  • Fuel Type: Natural Gas
  • Heating System: Forced Air
  • Separate Electric: Yes
  • Separate Gas: Yes
  • Separate Heat: Yes
  • Sewer/Septic System: Public Sanitary

Lot Info

  • Assessor Parcel Number: 160-028-208-024-00
  • Lot Dimensions: 75 x 100
  • Acreage: 0.19
  • Zoning: Residential
  • Geo Subdivision: MI

Tax Info

  • Summer Tax: Year: 2017, Amount: $1,539.40
  • Winter Tax: Year: 2017, Amount: $268.26
  • Total Tax: Year: 2017, Amount: $1,807.66

Multi Family

  • Total Units: 3

MLS Schools

  • School District: Bay City School District

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 13, 2018
Closed on
Dec 20, 2018
Sold by
Hhd Property Management Llc
Bought by
Lesperance Michael and Lesperance Lydia
Seller's Agent
Wade Eckenrod
RE/MAX Results
Buyer's Agent
Wade Eckenrod
RE/MAX Results
List Price
$76,900
Sold Price
$68,000
Premium/Discount to List
-$8,900
-11.57%
Current Estimated Value
$145,704

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$77,704
Avg. Annual Appreciation
11.62%
Original Mortgage
$51,000
Outstanding Balance
$32,484
Interest Rate
4.8%
Mortgage Type
New Conventional
Estimated Equity
$113,220

Purchase Details

Closed on
Jan 6, 2006
Sold by
Schmidt Theodore D
Bought by
Deutsche Bank National Trust Co

Purchase Details

Closed on
Oct 19, 2004
Sold by
Schmidt Theodore D
Bought by
Tlc Royalty Homes Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$111,094
Interest Rate
8.5%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Sep 9, 2004
Sold by
Smith Brent and Carey Darrin
Bought by
Schmidt Theodore D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$111,094
Interest Rate
8.5%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Dec 31, 2003
Sold by
Simpson Gerald A and Simpson Joyce M
Bought by
Carey Darrin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$78,840
Interest Rate
5.84%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 17, 1999
Sold by
Silvernail Brian
Bought by
Simpson Gerald A and Simpson Joyce M
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
Lesperance Michael $68,000 None Available
Deutsche Bank National Trust Co $126,306 None Available
Tlc Royalty Homes Llc -- --
Schmidt Theodore D $127,094 Manzo Title Agency
Carey Darrin $87,600 --
Simpson Gerald A $43,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lesperance Michael $51,000
Previous Owner Schmidt Theodore D $111,094
Previous Owner Carey Darrin $78,840
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/20/2018 12/20/18 Sold $68,000 -11.6% $24 / Sq Ft
10/08/2018 10/08/18 Pending -- -- --
09/13/2018 09/13/18 For Sale $76,900 -- $27 / Sq Ft
Source: Bay County Realtor® Association 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
2025 $2,065 $51,000 $0 $0
2024 $1,801 $42,100 $0 $0
2023 $1,715 $37,450 $0 $0
2022 $1,862 $33,800 $0 $0
2021 $1,766 $31,600 $31,600 $0
2020 $1,839 $27,750 $27,750 $0
2019 $2,108 $26,450 $0 $0
2018 $2,044 $25,250 $0 $0
2017 $1,808 $24,950 $0 $0
2016 $1,819 $26,000 $0 $26,000
2015 $1,641 $26,150 $0 $26,150
2014 $1,641 $28,350 $0 $28,350
Source: Public Records

Agents Affiliated with this Home

  • Wade Eckenrod

    Seller's Agent in 2018

    Wade Eckenrod

    RE/MAX Michigan

    (989) 239-4585

    118 in this area

    291 Total Sales

    Wade Eckenrod
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Map

Source: Bay County Realtor® Association MLS

MLS Number: 31360186

Bay County Realtor® Association MLS

APN: 09-160-028-208-024-00

Michigan Bay County Bay City 48708

229 N Madison Ave, Bay City, MI

Not Listed for Sale

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