NOT LISTED FOR SALE

258 E Adams St Ionia, MI 48846

Estimated Value: $146,000 - $176,000

2 Beds
2 Baths
1,392 Sq Ft
$113/Sq Ft Est. Value

Last Sold November 21, 2018

Last sale price $47,500 $34 Per Sq Ft

Est. 230% increase in value since last sale

Current estimated payment $980/month

6 Days on Market

About This Home

As of November 2018

Extremely hard to find and Very strong cash flow investment property in Ionia. Both units occupied. Lower pays $600, Upper is at $500 per month. Tenants pay separate gas/electric...Owner pays approx. $200 every 3 months for water/sewer/trash. Home owner has put new floor coverings, fixtures, and some mechanicals throughout. Upper Unit has a brand new high efficiency furnace that was installed Oct 2018. Hurry to show!!

Last Agent to Sell the Property

Darin Elliott

Greenridge Realty (Ionia) Listed on: 10/16/2018

Last Buyer's Agent

Darin Elliott

Greenridge Realty (Ionia) Listed on: 10/16/2018

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1947

Lot Details

  • 2,614

Parking

  • 2 Parking Spaces

Home Design

  • Metal Roof
  • Aluminum Siding

Utilities

  • No Cooling
  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Cable TV Available

Additional Features

  • Michigan Basement
  • 2,614 Sq Ft Lot

Community Details

  • 2 Units

Listing and Financial Details

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

Property Details

Home Type

Apartment

Year Built

Built in 1947

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1947
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Michigan Basement

Exterior Features

  • Construction Materials: Aluminum Siding
  • List Price: 54900.0
  • Lot Features: Sidewalk
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Metal
  • Waterfront: No

Garage/Parking

  • Total Parking Spaces: 2.0

Utilities

  • Cooling: None
  • Cooling: No
  • Heating: Natural Gas, Forced Air
  • Heating: Yes
  • Utilities: Cable Connected, Broadband

Lot Info

  • Lot Size Acres: 0.06
  • Lot Size Area: 0.06
  • Lot Size Sq Ft: 2614.0
  • Zoning Description: R1
  • ResoLotSizeUnits: Acres

Rental Info

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

Multi Family

  • Number of Units Total: 2

Tax Info

  • Tax Annual Amount: 1347.0
  • Tax Year: 2017

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 16, 2018
Closed on
Nov 21, 2018
Sold by
Webb Steven and Webb Carrie
Bought by
Hebden Rick D and Hebden Leyna M
Seller's Agent
Darin Elliott
Greenridge Realty (Ionia)
Buyer's Agent
Darin Elliott
Greenridge Realty (Ionia)
List Price
$54,900
Sold Price
$47,500
Premium/Discount to List
-$7,400
-13.48%
Current Estimated Value
$156,956

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$109,456
Avg. Annual Appreciation
18.25%
Original Mortgage
$35,620
Outstanding Balance
$31,064
Interest Rate
4.8%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$125,892

Purchase Details

Closed on
Dec 17, 1998
Bought by
Lyman Christopher P and Lyman Teresa
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
Hebden Rick D $47,500 --
Lyman Christopher P $48,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hebden Rick D $35,620
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
11/21/2018 11/21/18 Sold $47,500 -13.5% $34 / Sq Ft
10/22/2018 10/22/18 Pending -- -- --
10/16/2018 10/16/18 For Sale $54,900 +322.3% $39 / Sq Ft
10/03/2014 10/03/14 Sold $13,000 -71.0% $9 / Sq Ft View Prior Sale
09/22/2014 09/22/14 Pending -- -- --
01/27/2014 01/27/14 For Sale $44,900 -- $32 / Sq Ft
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 $1,912 $52,000 $8,600 $43,400
2024 $18 $52,000 $8,600 $43,400
2023 $1,736 $39,700 $6,400 $33,300
2022 $1,653 $35,600 $5,600 $30,000
2021 $1,687 $28,900 $5,600 $23,300
2020 $1,595 $28,900 $5,600 $23,300
2019 $1,051 $28,700 $4,600 $24,100
2018 $1,311 $24,400 $4,100 $20,300
2017 $1,039 $24,400 $4,100 $20,300
2016 $1,051 $20,000 $2,500 $17,500
2015 -- $20,000 $2,500 $17,500
2014 $1,246 $18,900 $3,600 $15,300
Source: Public Records

Agents Affiliated with this Home

  • Darin Elliott

    Seller's Agent in 2018

    Darin Elliott

    Greenridge Realty (Ionia)

    (616) 523-3006

    232 in this area

    597 Total Sales

    Darin Elliott
    Section Image
  • Mary Buckius

    Seller's Agent in 2014

    Mary Buckius

    Keller Williams GR East

    (616) 293-5118

    2 in this area

    83 Total Sales

    Mary Buckius
    Section Image
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Map

Source: MichRIC

MLS Number: 18050892

MichRIC

APN: 203-090-000-090-00

Michigan Ionia County Ionia 48846

258 E Adams St, Ionia, MI

Not Listed for Sale

MultiFamily

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