NOT LISTED FOR SALE

2710 W Miller Rd Lansing, MI 48911

Southern Lansing Neighborhood

Estimated Value: $194,000 - $219,000

-- Bed
-- Bath
2,245 Sq Ft
$94/Sq Ft Est. Value

Last Sold August 19, 2019

Last sale price $129,900 $58 Per Sq Ft

Est. 62% increase in value since last sale

Current estimated payment $1,600/month

43 Days on Market

About This Home

As of August 2019

What an opportunity!! This 3 Unit property boasts more then $2,000 a month cash flow. Recently remodeled, this property is maintenance free. Vinyl siding, newer roof, refinished hardwood floors, new vinyl plank flooring in lower unit and efficiency, paint, tiled shower surrounds, updated throughout, inspected and currently cash flowing! If you want a turn key investment this is it! Double Lot, plenty of parking and stable tenants. More than a 10% CAP rate with room for even higher returns. Seller is a licensed agent. No showings without preapproval or proof of funds.

Last Agent to Sell the Property

David Hall

Achieve Real Estate LLC License #6502433100 Listed on: 04/04/2019

Last Buyer's Agent

Jennifer Worthington

eXp Realty - Cedar Branch License #6506048661

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,664

Year Built

  • Built in 1964

Lot Details

  • 0.55 Acre Lot
  • Lot Dimensions are 120x200

Home Design

  • 2,245 Sq Ft Home
  • 2-Story Property
  • Shingle Roof
  • Vinyl Siding

Partially Finished Basement

  • Basement Fills Entire Space Under The House
  • Crawl Space

Parking

  • 6 Parking Spaces
  • No Garage
  • Gravel Driveway

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Gas Water Heater

Listing and Financial Details

  • Total Actual Rent $24,600

Community Details

Overview

  • 3 Units

Building Details

  • Electric Expense $1,200
  • Insurance Expense $800
  • Maintenance Expense $1,230
  • Manager Expense $2,400
  • New Taxes Expense $2,664
  • Net Operating Income $15,045

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,664

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Gross Rent: 24600.0
  • Less Fuel: 1200.0
  • Net Income: 15045.0
  • Misc Business Info Parking Surface: GRAVEL
  • Misc Business Info Roof Type: SHINGLE
  • Tax Year: 2018
  • Registered Licenses for Unrelated Occupants: 2/1/2019
  • Levels: Two
  • Year Built: 1964
  • Lot Size Acres: 0.55
  • Lot Size: 120X200
  • Professional Management Expense: 2400.0
  • Subdivision Name: None
  • Above Grade Finished Sq Ft: 2245.0
  • Architectural Style: Bi-Level
  • General Property Info:Lot Size Dimensions: 120X200
  • General Property Info:Above Grade Finished Area: 2245.0
  • Levels:Two2: Yes
  • Sewer:Public Sewer: Yes
  • Roof:Shingle: Yes
  • Security Features:Smoke Detector(s): Yes
  • General Property Info:ECO Friendly Features: No
  • Exterior:Vinyl Siding: Yes
  • Architectural Style:Bi-Level: Yes
  • Tax Info:Taxes2: 2664.0
  • Tax Info:Zoning3: Residential
  • Water Heater:Gas Water Heater2: Yes
  • General Property Info:Building 1 Description: BLDG 1
  • General Property Info:_pound_ of Units: 3
  • Annual Inc Expense:Insurance4: 800.0
  • Annual Inc Expense:Tax Expense2: 2664.0
  • Annual Inc Expense:Maintenance3: 1230.0
  • Annual Inc Expense:Management3: 2400.0
  • Annual Inc Expense:Electricity5: 1200.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Crawl Space, Full, Partially Finished
  • Heating: Forced Air, Natural Gas
  • Property Type: Resid/Multi-Family
  • Full Basement: Yes
  • Basement:Partially Finished: Yes
  • Basement:Crawl Space: Yes

Exterior Features

  • Roof: Shingle
  • Construction Type: Vinyl Siding

Garage/Parking

  • Total Parking Spaces: 6.0
  • Parking Features: Gravel, No Garage
  • Attached Garage: No
  • Parking Features:Gravel2: Yes
  • Parking Features:No Garage: Yes
  • Misc Business Info:_pound_ Parking: 6
  • General Property Info:Parking Total: 6

Utilities

  • Sewer: Public Sewer
  • Appliances: Gas Water Heater
  • SecurityFeatures: Smoke Detector(s)
  • Water Source: Public
  • Heating Yn: Yes
  • Heating:Forced Air: Yes
  • Heating:Natural Gas: Yes

Schools

  • Junior High Dist: Lansing

Lot Info

  • Lot Size Sq Ft: 24001.56
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 3
  • Electric Expense: 1200.0
  • Insurance Expense: 800.0
  • Maintenance Expense: 1230.0
  • Property Net Operating Income: 15045.0

Tax Info

  • New Taxes Expense: 2664.0
  • Tax Carrier Route: 4572

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 4, 2019
Closed on
Jul 31, 2019
Sold by
Hines Steven
Bought by
Williams Tasha
Seller's Agent
David Hall
Achieve Real Estate LLC
Buyer's Agent
Jennifer Worthington
eXp Realty - Cedar Branch
List Price
$129,900
Sold Price
$129,900
Current Estimated Value
$210,666

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$80,766
Avg. Annual Appreciation
8.02%
Original Mortgage
$127,546
Outstanding Balance
$111,776
Interest Rate
3.73%
Mortgage Type
FHA
Estimated Equity
$98,890

Purchase Details

Listed on
May 31, 2018
Closed on
Aug 13, 2018
Sold by
Us Bank Trust Na
Bought by
Hines Steve
Seller's Agent
Chris Dean
Gateway to Homes
Buyer's Agent
David Hall
Achieve Real Estate LLC
List Price
$63,900
Sold Price
$56,000
Premium/Discount to List
-$7,900
-12.36%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
144.76%

Purchase Details

Closed on
Mar 14, 2017
Sold by
Brown Rodger Francis and Brown Russell Joe
Bought by
U S Bank Trust N A and Lsf9 Master Participation Trust

Purchase Details

Closed on
Jun 23, 2003
Sold by
Nevins Marjorie J and Brown Marjorie J
Bought by
Nevins Lyle and Nevins Marjorie L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$80,000
Interest Rate
5.3%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Williams Tasha $130,000 Tri County Title Agency Llc
Hines Steve $56,000 Parks Title
U S Bank Trust N A -- None Available
Nevins Lyle -- Creations Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Williams Tasha $127,546
Previous Owner Nevins Lyle $80,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/19/2019 08/19/19 Sold $129,900 0.0% $58 / Sq Ft
04/04/2019 04/04/19 For Sale $129,900 +132.0% $58 / Sq Ft
09/10/2018 09/10/18 Sold $56,000 -2.6% $25 / Sq Ft View Prior Sale
07/24/2018 07/24/18 Pending -- -- --
06/14/2018 06/14/18 Price Changed $57,500 -10.0% $26 / Sq Ft
05/30/2018 05/30/18 For Sale $63,900 -- $28 / Sq Ft
Source: Greater Lansing Association of Realtors®

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 $5,846 $100,700 $13,000 $87,700
2024 $35 $75,300 $13,000 $62,300
2023 $4,371 $66,100 $13,000 $53,100
2022 $3,954 $64,300 $8,300 $56,000
2021 $3,873 $59,800 $8,100 $51,700
2020 $4,282 $58,600 $8,100 $50,500
2019 $3,066 $39,200 $8,100 $31,100
2018 $2,667 $34,100 $8,100 $26,000
2017 $3,839 $34,100 $8,100 $26,000
2016 $2,519 $33,500 $8,100 $25,400
2015 $2,519 $33,100 $16,100 $17,000
2014 $2,519 $33,700 $26,162 $7,538
Source: Public Records

Agents Affiliated with this Home

  • David Hall

    Seller's Agent in 2019

    David Hall

    Achieve Real Estate LLC

    (517) 712-8329

    7 in this area

    127 Total Sales

    David Hall
    Section Image
  • Jennifer Worthington

    Buyer's Agent in 2019

    Jennifer Worthington

    eXp Realty - Cedar Branch

    (517) 798-4035

    33 Total Sales

    Jennifer Worthington
    Section Image
  • Chris Dean

    Seller's Agent in 2018

    Chris Dean

    Gateway to Homes

    (517) 749-6666

    2 in this area

    118 Total Sales

    Chris Dean
    Section Image
  • Paul Brown

    Seller Co-Listing Agent in 2018

    Paul Brown

    Gateway to Homes

    (517) 321-6373

    4 in this area

    167 Total Sales

    Paul Brown
    Section Image
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Map

Source: Greater Lansing Association of Realtors®

MLS Number: 235122

Greater Lansing Association of Realtors®

APN: 01-05-06-455-171

Michigan Ingham County Lansing 48911 Southern Lansing

2710 W Miller Rd, Lansing, MI

Not Listed for Sale

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