NOT LISTED FOR SALE

303 E Lafayette St Romeo, MI 48065

8 Beds
4 Baths
3,355 Sq Ft
0.25 Acres

Last Sold April 10, 2023

Last sale price $585,000 $174 Per Sq Ft

28 Days on Market

Highlights

  • Ranch Style House
  • Patio
  • Laundry Facilities
  • Hevel Elementary School Rated A-
  • Forced Air Heating and Cooling System

About This Home

As of April 2023

Highly desired Downtown Romeo 4 unit income property. Tons of recent capital improvements over the past year. All units are exactly the same, 2bdrm, 1 bath, in-unit laundry. Fully leased with long term tenants. Combined gross monthly rental income is $4,300. rents are: ($1200, $1150, $1000, $900) Annual $51,600. There is room to raise rents about $6,000 annually. Capital improvements include 2 heavily renovated units with new kitchens, baths, flooring, appliances, paint. All units have new exterior doors and all windows. Tenants pay all utilities (water, gas, electric) Landlord expenses include property taxes, building insurance, water softener salt & grounds maintenance. No showings without an accepted offer to avoid disturbing tenants.

Last Agent to Sell the Property

Jonathan Foukes

Move Realty LLC License #6504393425 Listed on: 02/16/2023

Last Buyer's Agent

Lanie Hardy Cosgrove

KW Domain License #RCO-6501261101

KW Domain

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1991 | Remodeled in 2021

Lot Details

  • 0.25 Acre Lot
  • Lot Dimensions are 75.00 x 150.00

Parking

  • 8 Parking Spaces

Home Design

  • Ranch Style House
  • Brick Exterior Construction
  • Asphalt Roof
  • Vinyl Construction Material

Interior Spaces

  • 4 Full Bathrooms
  • 3,355 Sq Ft Home
  • Crawl Space

Outdoor Features

  • Patio

Utilities

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

Listing and Financial Details

  • Assessor Parcel Number 0402201013

Community Details

Overview

  • 4 Units
  • Baileys Addition Subdivision

Amenities

  • Laundry Facilities

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,567

Year Built

Built in 1991 | Remodeled in 2021

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Ranch
  • Architecture Level: 1 Story
  • Year Built: 1991
  • State Equalized Value: 96000.0000
  • Year Renovated: 2021
  • Pets Allowed: Yes
  • Special Features: NewHome
  • Property Sub Type: MultiFamily
  • Stories: 1

Interior Features

  • Interior Amenities: Laundry Facility
  • Total Bathrooms: 4.00
  • Full Bathrooms: 4
  • Total Sq Ft: 3355

Exterior Features

  • Roof Material: Asphalt
  • Foundation Details: Crawl
  • Construction Materials: Brick, Vinyl
  • Porch Type: Patio
  • Road Frontage Type: Paved

Garage/Parking

  • Total Parking Spaces: 8

Utilities

  • Heating Fuel: Natural Gas
  • Cooling: Central Air
  • Heating: Forced Air
  • Sewer: Public Sewer (Sewer-Sanitary)
  • Water Heater Fuel: Natural Gas
  • Water Source: Community
  • Laundry Facilities: Yes

Lot Info

  • Lot Size Area: 0.25
  • Lot Dimensions: 75.00 x 150.00
  • Parcel Number: 0402201013
  • Zoning: Multi-Family

Rental Info

  • Rent Includes: Snow Removal, Trash Collection (Garbage Pickup), Yard Maintenance
  • Monthly Rental Income: 4300

Tax Info

  • Tax Amount Summer: 5180.0000
  • Tax Amount Winter: 387.0000
  • Total Tax: 5567.0000
  • Taxable Value: 96000.0000

Multi Family

  • Gross Scheduled Income: 51600.00
  • Number Of Units Total: 4

MLS Schools

  • School District: Romeo

Range of Values:

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Value Increase
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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

Property History

Date Event Price List to Sale Price per Sq Ft
04/10/2023 04/10/23 Sold $585,000 -6.4% $174 / Sq Ft
03/16/2023 03/16/23 Pending -- -- --
02/16/2023 02/16/23 For Sale $625,000 0.0% $186 / Sq Ft
02/19/2022 02/19/22 Rented $1,250 +4.2% --
02/12/2022 02/12/22 For Rent $1,200 -- --
Source: Realcomp

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jonathan Foukes

    Seller's Agent in 2023

    Jonathan Foukes

    Move Realty LLC

    (586) 405-2327

    1 in this area

    134 Total Sales

    Jonathan Foukes
    Section Image
  • Lanie Hardy Cosgrove

    Buyer's Agent in 2023

    Lanie Hardy Cosgrove

    KW Domain

    (248) 703-1105

    1 in this area

    312 Total Sales

    Lanie Hardy Cosgrove
    Section Image

  • M

    Buyer's Agent in 2023

    Marcia Thorpe

    Keller Williams Advantage

See All Agents

Map

Source: Realcomp

MLS Number: 20230011809

Realcomp
Michigan Macomb County Romeo 48065

303 E Lafayette St, Romeo, MI

Not Listed for Sale

MultiFamily

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IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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