NOT LISTED FOR SALE

232 E Glenguile St Parchment, MI 49004

Burke Acres Neighborhood

Estimated Value: $663,960

Studio
1 Bath
-- Sq Ft
0.45 Acres

Last Sold June 18, 2021

Last sale price $520,000

Est. 28% increase in value since last sale

Current estimated payment $4,132/month

4 Days on Market

About This Home

As of June 2021

Fantastic investment property - all brick 8-unit in a quiet setting. All apartments are 2 bedroom, 1 bath. There is an 8 stall carport having additional storage attached for each tenant. Basement has coined laundry facilities and storage lockers. The units are all heated by electric radiant heat systems and each tenant pays for their own electric. Almost all the units have been updated. Very nice units, easy to rent. Fully occupied, with half the building having long term tenants. Please note: Seller is a MI licensed real estate agent.

Last Agent to Sell the Property

Jaymi Ratzlaff

J T Henderson & Assoc LLC License #6501343554 Listed on: 04/12/2021

Last Buyer's Agent

Jason Veenstra

Evenboer Walton, REALTORS

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $8,263

Year Built

  • Built in 1968

Lot Details

  • 0.45

Parking

  • 12 Parking Spaces

Home Design

  • Brick Exterior Construction
  • Composition Roof

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Radiant Heating System
  • Cable TV Available

Additional Features

  • Crawl Space
  • 0.45 Acre Lot

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for water, sewer

Community Details

Overview

  • 8 Units

Building Details

  • Insurance Expense $6,157
  • Maintenance Expense $3,327
  • Gross Income $66,262

Property Details

Home Type

Apartment

Est. Annual Taxes

$8,263

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Property Sub-Type: 5+ Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1968
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Crawl Space

Exterior Features

  • Construction Materials: Brick
  • List Price: 549900.0
  • Lot Features: Sidewalk
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Composition

Garage/Parking

  • Total Parking Spaces: 12.0

Utilities

  • Cooling: Wall Unit(s)
  • Cooling: Yes
  • Heating: Radiant
  • Heating: Yes
  • Utilities: Cable Connected, Public Water, Public Sewer, Broadband
  • Water Source: Public

Lot Info

  • Lot Size Acres: 0.45
  • Lot Size Area: 0.45
  • Lot Size Sq Ft: 19602.0
  • Zoning Description: Residential
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Water, Sewer
  • Tenant Pays: Electricity

Multi Family

  • Gross Income: 66262.0
  • Insurance Expense: 6157.0
  • Maintenance Expense: 3327.0
  • Number of Units Total: 8

Tax Info

  • Tax Annual Amount: 8263.0
  • Tax Year: 2020

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 12, 2021
Closed on
Jun 18, 2021
Sold by
Ratzlaff Enterprises Llc
Bought by
Blackbird Rentals Llc
Seller's Agent
Jaymi Ratzlaff
J T Henderson & Assoc LLC
Buyer's Agent
Jason Veenstra
eXp Realty LLC
List Price
$549,900
Sold Price
$520,000
Premium/Discount to List
-$29,900
-5.44%
Current Estimated Value
$663,960

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$143,960
Avg. Annual Appreciation
5.48%
Original Mortgage
$270,000
Outstanding Balance
$244,451
Interest Rate
2.9%
Mortgage Type
Future Advance Clause Open End Mortgage
Estimated Equity
$419,509

Purchase Details

Closed on
May 1, 2020
Sold by
Ratzlaff Jaymi
Bought by
Ratzilaff Jaymi and Ratzilaff Katlyn

Purchase Details

Closed on
Aug 15, 2019
Sold by
G & K Glenguile Llc
Bought by
Ratzlaff Enterprises Llc

Purchase Details

Closed on
Nov 14, 2014
Sold by
Cretsinger Thomas O
Bought by
G & K Glenguile Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$220,000
Interest Rate
3.97%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Blackbird Rentals Llc $520,000 Chicago Title Company
Ratzilaff Jaymi -- None Available
Ratzlaff Enterprises Llc $408,250 Devon Title Company
G & K Glenguile Llc $275,000 Devon Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Blackbird Rentals Llc $270,000
Previous Owner G & K Glenguile Llc $220,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/18/2021 06/18/21 Sold $520,000 -5.4% --
04/16/2021 04/16/21 Pending -- -- --
04/12/2021 04/12/21 For Sale $549,900 -- --
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 $7,930 $169,900 $0 $0
2024 $7,881 $173,600 $0 $0
2023 $9,510 $154,600 $0 $0
2022 $9,793 $138,100 $0 $0
2021 $8,141 $114,300 $0 $0
2020 $8,263 $116,500 $0 $0
2019 $7,619 $109,700 $0 $0
2018 $8,687 $136,200 $0 $0
2017 -- $136,200 $0 $0
2016 -- $122,124 $0 $0
2015 -- $123,127 $0 $0
2014 -- $117,514 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2021

    Jaymi Ratzlaff

    J T Henderson & Assoc LLC

    Section Image
  • Jason Veenstra

    Buyer's Agent in 2021

    Jason Veenstra

    eXp Realty LLC

    (269) 350-5514

    16 in this area

    318 Total Sales

    Jason Veenstra
    Section Image
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Map

Source: MichRIC

MLS Number: 21011778

MichRIC

APN: 06-02-140-100

Michigan Kalamazoo County Parchment 49004 Burke Acres

232 E Glenguile St, Parchment, MI

Not Listed for Sale

MultiFamily

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