NOT LISTED FOR SALE

266 Ardmore Dr Ferndale, MI 48220

Estimated Value: $281,856 - $328,000

3 Beds
2 Baths
1,282 Sq Ft
$233/Sq Ft Est. Value

Last Sold June 03, 2016

Last sale price $158,000 $123 Per Sq Ft

Est. 89% increase in value since last sale

Current estimated payment $2,202/month

119 Days on Market

About This Home

As of June 2016

Attention investors, great opportunity for turn-key income property! Tenants already in place, upper unit currently generating $695/mo and lower $998/mo. Tenants currently on a month to month lease, utility meters separate. Home is well maintained, kitchen, baths, flooring all in good condition. Full open, shared basement. All appliances included in sale. Great location near thriving downtown Ferndale, close to shopping, dining and famous Woodward Ave!

Last Agent to Sell the Property

James Silver

Keller Williams Somerset License #6501302927 Listed on: 10/26/2015

Keller Williams Somerset

Last Buyer's Agent

Susan Keim

Berkshire Hathaway HomeServices HWWB License #6501225779

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1925

Lot Details

  • 3,485 Sq Ft Lot
  • Lot Dimensions are 33.33x108.9
  • Fenced

Home Design

  • Block Foundation
  • Vinyl Construction Material

Interior Spaces

  • 2 Full Bathrooms
  • 1,282 Sq Ft Home
  • 1.5-Story Property
  • Basement Fills Entire Space Under The House

Parking

  • Paved Parking
  • On-Street Parking

Outdoor Features

  • Exterior Lighting

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Natural Gas Water Heater
  • Cable TV Available

Community Details

  • 2 Units
  • The Little Farms Sub Subdivision

Listing and Financial Details

  • Assessor Parcel Number 2534204023
  • $4,000 Seller Concession

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,546

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Upper/Lower Apartment
  • Architecture Level: 1 1/2 Story
  • Assessment: 234
  • Year Built: 1925
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 1

Interior Features

  • Interior Amenities: Cable Available
  • Total Bathrooms: 2.00
  • Full Bathrooms: 2
  • Basement: Yes
  • Basement Type: Common
  • Sq Ft Combined: 1282
  • Total Sq Ft: 1282
  • Sq Ft Total Bsmt: 855

Exterior Features

  • Foundation Details: Basement
  • Construction Materials: Aluminum, Vinyl
  • Exterior Features: Fenced, Lighting
  • Foundation Materials: Block
  • Road Frontage Type: Paved

Garage/Parking

  • MF Parking: On Street, Paved

Utilities

  • Heating Fuel: Natural Gas
  • Heating: Forced Air
  • Sewer: Public Sewer (Sewer-Sanitary)
  • Water Heater Fuel: Natural Gas
  • Water Source: Public (Municipal)
  • Laundry Facilities: No

Schools

  • School District: Ferndale

Lot Info

  • List Price per Acre: 2123750.0000
  • Lot Size Area: 0.08
  • Lot Dimensions: 33.33X108.9
  • Parcel Number: 2534204023
  • Zoning: Residential

Rental Info

  • Monthly Rental Income: 1693

Tax Info

  • Tax Amount Summer: 2490.0000
  • Tax Amount Winter: 56.0000
  • Total Tax: 2546.0000

Multi Family

  • Gross Scheduled Income: 20316.00
  • Number Of Units Total: 2
  • Number of One Bedroom Units: 1
  • Number of Two Bedroom Units: 1
  • Number Of Units Leased: 2

MLS Schools

  • School District: Ferndale

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 26, 2015
Closed on
Jun 3, 2016
Sold by
Sullivan Shelley K and The Charles E Green Trust
Bought by
Stenman Michael
Seller's Agent
James Silver
Keller Williams Somerset
Buyer's Agent
Susan Keim
Berkshire Hathaway HomeServices HWWB
List Price
$174,500
Sold Price
$158,000
Premium/Discount to List
-$16,500
-9.46%
Total Days on Market
119
Current Estimated Value
$298,714

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$140,714
Avg. Annual Appreciation
7.45%
Original Mortgage
$152,470
Interest Rate
3.87%
Mortgage Type
FHA

Purchase Details

Closed on
Apr 20, 2012
Sold by
Green Charles E and Green Shirley A
Bought by
Green Charles E and Charles E Green Trust
Source: Public Records

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Range of Values:

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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
Stenman Michael $158,000 Fnt
Green Charles E -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Stenman Michael $162,200
Closed Stenman Michael $152,470
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/03/2016 06/03/16 Sold $158,000 -9.5% $123 / Sq Ft
02/22/2016 02/22/16 Pending -- -- --
10/26/2015 10/26/15 For Sale $174,500 -- $136 / Sq Ft
Source: Realcomp

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 $6,294 $110,330 $0 $0
2023 $6,077 $108,480 $0 $0
2022 $5,896 $101,050 $0 $0
2021 $5,876 $96,000 $0 $0
2020 $5,625 $92,700 $0 $0
2019 $5,667 $84,710 $0 $0
2018 $4,325 $73,410 $0 $0
2017 $4,270 $71,350 $0 $0
2016 $2,660 $53,760 $0 $0
2015 -- $45,600 $0 $0
2014 -- $38,220 $0 $0
2011 -- $37,050 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Realcomp

MLS Number: 215116278

Realcomp

APN: 25-34-204-023