NOT LISTED FOR SALE

Estimated Value: $321,000

10 Beds
4 Baths
3,328 Sq Ft
$96/Sq Ft Est. Value

Last Sold February 02, 2018

Last sale price $204,000 $61 Per Sq Ft

Est. 57% increase in value since last sale

Current estimated payment $2,391/month

14 Days on Market

About This Home

As of February 2018

Awesome investment opportunity! CAP Rate of over 8.5%! Easy turn key operation and all units are currently rented. Each unit features its own newer furnace, one replaced in 2017 and water heater. No Boilers! Each unit is clean and well maintained. Three new stoves 2017. Exterior features low maintenance vinyl siding and concrete sidewalks. New asphalt in 2017. Parking lot can accommodate up to 10 vehicles at a time. This property is well maintained and fully rented.

Last Agent to Sell the Property

Kim Campbell

@properties Christie's International Real Estate License #471022204 Listed on: 10/25/2017

@properties Christie's International Real Estate

Last Buyer's Agent

Brian Moran

Keller Williams North Shore West License #471022202

Keller Williams North Shore West

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,418

Lot Details

  • 8,102

Home Design

  • Vinyl Siding

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 10 Potential Bedrooms
  • 4 Bathrooms

Parking

  • 10 Parking Spaces
  • Uncovered Parking
  • Unassigned Parking

Utilities

  • Forced Air Heating System
  • Lake Michigan Water

Additional Features

  • 2-Story Property
  • Lot Dimensions are 60 x 135 x 60 x 135

Community Details

Overview

  • 4 Units

Building Details

  • Gross Income $33,960
  • Net Operating Income $19,714

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,418

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Age: 31-40 Years
  • Built Before 1978 (Y/N): No
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: None
  • Total Bathrooms: 4
  • Total Bedrooms: 10
  • Basement Description: None
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Dishwasher,Central Air Conditioner,Range Hood
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Dishwasher,Central Air Conditioner,Range Hood
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Dishwasher,Central Air Conditioner,Range Hood
  • AppliancesAndFeatures: Stove,Refrigerator,Dishwasher,Central Air Conditioner,Range Hood

Exterior Features

  • Waterfront: No
  • Exterior Building Type: Vinyl Siding

Garage/Parking

  • Parking Features: Unassigned
  • ParkingTotal: 10
  • Parking: Space/s
  • Parking On-Site: Yes
  • Parking Ownership: N/A

Utilities

  • Sewer: Public Sewer
  • Heating: Forced Air
  • Water Source: Lake Michigan, Public

Fee Information

  • Other Expenses $: 14246

Lot Info

  • Lot Dimensions: 60 X 135 X 60 X 135
  • Zoning: MULTI
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 2
  • TenantPays: Electric,Gas,Heat,Other

Multi Family

  • Net Operating Income: 19714
  • GrossIncome: 33960
  • Units in Building: 4
  • Three Bedroom Number of Units: Yes
  • Type-Multi: 2 Story Unit/s

Tax Info

  • Tax Annual Amount: 7418.19
  • Tax Year: 2016
  • Tax Exemptions: None

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 25, 2017
Closed on
Jan 26, 2018
Sold by
Starsky Property Investments Llc Series
Bought by
Sell Steve and Buerer Robert
Seller's Agent
Kim Campbell
@properties Christie's International Real Estate
Buyer's Agent
Brian Moran
Keller Williams North Shore West
List Price
$230,000
Sold Price
$204,000
Premium/Discount to List
-$26,000
-11.3%
Current Estimated Value
$321,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$117,000
Original Mortgage
$153,000
Outstanding Balance
$131,197
Interest Rate
4.5%
Mortgage Type
New Conventional
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
Sell Steve $204,000 First American Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Sell Steve $153,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
02/02/2018 02/02/18 Sold $204,000 -11.3% $61 / Sq Ft
11/08/2017 11/08/17 Pending -- -- --
10/25/2017 10/25/17 For Sale $230,000 +27.8% $69 / Sq Ft
08/28/2015 08/28/15 Sold $180,000 -7.7% $54 / Sq Ft View Prior Sale
06/29/2015 06/29/15 Pending -- -- --
05/11/2015 05/11/15 Price Changed $195,000 -4.9% $59 / Sq Ft
03/03/2015 03/03/15 For Sale $205,000 -- $62 / Sq Ft
Source: Midwest Real Estate Data (MRED)

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 $8,536 $69,227 $8,299 $60,928
2023 $6,761 $63,815 $7,650 $56,165
2022 $6,761 $48,641 $5,831 $42,810
2021 $6,652 $48,222 $5,781 $42,441
2020 $6,541 $48,489 $5,813 $42,676
2019 $6,541 $47,599 $5,706 $41,893
2018 $7,690 $45,954 $5,509 $40,445
2017 $7,628 $45,186 $5,417 $39,769
2016 $7,418 $43,010 $5,156 $37,854
2015 $7,280 $40,499 $4,855 $35,644
2014 $6,063 $40,500 $4,844 $35,656
2012 $6,109 $40,851 $4,886 $35,965
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 09785796

Midwest Real Estate Data (MRED)

APN: 12-05-314-002