NOT LISTED FOR SALE

Estimated Value: $499,000 - $614,000

8 Beds
4 Baths
-- Sq Ft
8,276 Sq Ft Lot

Last Sold October 07, 2022

Last sale price $460,500

Est. 22% increase in value since last sale

Current estimated payment $3,916/month

4 Days on Market

Highlights

  • 4 Car Detached Garage
  • Ceiling Fan
  • 1-minute walk to Grant School Park

About This Home

As of October 2022

FOUR UNIT BUILDING WITH TOP 2 UNITS COMPLETELY REMODELED. THIS IS A TURNKEY INVESTMENT WITH HIGH PREDICTIBLE CASH FLOW AT ABOVE 9% CAP RATE. CLOSE TO TRANSPORTATION AND BUSINESS. PROFESSIONAL MANAGEMENT AVAILABLE.

Last Agent to Sell the Property

Patrick Jage

Sterling Realty & Prop Mgt LLC License #471001727 Listed on: 09/04/2022

Last Buyer's Agent

Karen Dumais

Berkshire Hathaway HomeServices American Heritage License #475126275

Berkshire Hathaway HomeServices American Heritage

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,922

Year Built

  • Built in 1960 | Remodeled in 2022

Lot Details

  • 8,276 Sq Ft Lot
  • Lot Dimensions are 52x165

Parking

  • 4 Car Detached Garage
  • Parking Space is Owned
  • Unassigned Parking

Home Design

  • Asphalt Roof
  • Vinyl Siding
  • Concrete Perimeter Foundation

Interior Spaces

  • Ceiling Fan
  • Carbon Monoxide Detectors

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Potential Bedrooms
  • 4 Bathrooms

Unfinished Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House
  • Sump Pump

Schools

  • Highland Elementary School
  • Kimball Middle School
  • Larkin High School

Utilities

  • Heating System Uses Natural Gas
  • Lake Michigan Water
  • Cable TV Available

Community Details

Overview

  • 4 Units

Building Details

  • Electric Expense $1,150
  • Fuel Expense $1,566
  • Insurance Expense $2,299
  • Maintenance Expense $2,000
  • Water Sewer Expense $3,516
  • Gross Income $60,600
  • Net Operating Income $41,707

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,922

Year Built

Built in 1960 | Remodeled in 2022

Lot Details

0

Parking

4

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1960
  • Age: 61-70 Years
  • Built Before 1978 (Y/N): Yes
  • General Information: School Bus Service,Interstate Access
  • Rebuilt (Y/N): No
  • Rehab (Y/N): Yes
  • Rehab Year: 2022
  • Actual Status: Closed
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Renovated: 2022

Interior Features

  • Basement: Full, Walkout
  • Total Bathrooms: 4
  • Total Bedrooms: 8
  • Other Equipment: TV-Cable, CO Detectors, Ceiling Fan(s), Sump Pump
  • Basement Description: Unfinished
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Window Air Conditioner,Garage/Space
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Window Air Conditioner,Garage/Space
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Window Air Conditioner,Garage/Space
  • AppliancesAndFeatures: Stove,Refrigerator,Window Air Conditioner,Garage/Space

Exterior Features

  • Foundation Details: Concrete Perimeter
  • Roof: Asphalt
  • Waterfront: No
  • Exterior Building Type: Vinyl Siding

Garage/Parking

  • Garage Spaces: 4
  • Parking Features: Unassigned
  • ParkingTotal: 4
  • Number of Cars: 8
  • Garage On-Site: Yes
  • Garage Ownership: Owned
  • Garage Type: Detached
  • Parking: Garage,Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas
  • Water Source: Lake Michigan

Fee Information

  • Water Sewer Expenses: 3516
  • Other Expenses $: 1440

Schools

  • Elementary School: Highland Elementary School
  • High School: Larkin High School
  • Middle/Junior School: Kimball Middle School

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.19
  • Lot Dimensions: 52X165
  • Zoning: MULTI
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 5
  • TenantPays: Electric,Gas

Multi Family

  • Net Operating Income: 41707
  • Fuel Expense: 1566
  • Insurance Expense: 2299
  • ElectricExpense: 1150
  • GrossIncome: 60600
  • Maintenance Expense: 2000
  • Units in Building: 4
  • Three Bedroom Number of Units: No
  • Type-Multi: 4 Flat

Tax Info

  • Tax Annual Amount: 6921.74
  • Tax Year: 2021
  • Tax Exemptions: None

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 4, 2022
Closed on
Oct 5, 2022
Sold by
Trost Donald
Bought by
Jd Sons Property Management Llc Series 327 N
Seller's Agent
Patrick Jage
Sterling Realty & Prop Mgt LLC
Buyer's Agent
Karen Dumais
Berkshire Hathaway HomeServices American Heritage
List Price
$354,900
Sold Price
$460,500
Premium/Discount to List
$105,600
29.75%
Current Estimated Value
$563,220

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$102,720
Avg. Annual Appreciation
6.39%

Purchase Details

Listed on
Apr 24, 2013
Closed on
Jun 27, 2013
Sold by
Trost Donald
Bought by
Trost Donald and Trost Josephine D
Seller's Agent
Joseph Mueller
Tanis Group Realty
Buyer's Agent
Matt Lysien
Suburban Life Realty, Ltd
List Price
$85,000
Sold Price
$125,765
Premium/Discount to List
$40,765
47.96%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
15.01%

Purchase Details

Listed on
Apr 24, 2013
Closed on
Jun 4, 2013
Sold by
Nationstar Mortgage Llc
Bought by
Trost Donald
Seller's Agent
Joseph Mueller
Tanis Group Realty
Buyer's Agent
Matt Lysien
Suburban Life Realty, Ltd
List Price
$85,000
Sold Price
$125,765
Premium/Discount to List
$40,765
47.96%

Purchase Details

Listed on
Apr 24, 2013
Closed on
May 17, 2013
Sold by
Hickman Tina
Bought by
Nationstar Mortgage Llc
Seller's Agent
Joseph Mueller
Tanis Group Realty
Buyer's Agent
Matt Lysien
Suburban Life Realty, Ltd
List Price
$85,000
Sold Price
$125,765
Premium/Discount to List
$40,765
47.96%

Purchase Details

Closed on
Aug 5, 2004
Sold by
Franco Construction Llc
Bought by
Hikcman Tina

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$292,000
Interest Rate
6.5%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 4, 2004
Sold by
Franco Pedro
Bought by
Franco Construction Llc

Purchase Details

Closed on
Sep 25, 2003
Sold by
Rivera Cruz Luis A and Rocha Flor
Bought by
Franco Pedro and Pedro Franco Trust #1

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$252,000
Interest Rate
7%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 29, 1999
Sold by
Phoneprasith Savath and Phoneprasith Chansouk
Bought by
Rivera Cruz Luis A and Rocha Flor

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$225,921
Interest Rate
6.94%
Mortgage Type
FHA
Source: Public Records
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
Jd Sons Property Management Llc Series 327 N $460,500 --
Trost Donald -- None Available
Trost Donald $126,000 First American Title
Nationstar Mortgage Llc -- First American Title
Hikcman Tina $365,000 --
Franco Construction Llc -- Chicago Title Insurance Comp
Franco Pedro $280,000 --
Rivera Cruz Luis A $228,000 Chicago Title Insurance Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Hikcman Tina $292,000
Previous Owner Franco Pedro $252,000
Previous Owner Rivera Cruz Luis A $225,921
Closed Hikcman Tina $73,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
10/07/2022 10/07/22 Sold $460,500 +1.2% --
09/09/2022 09/09/22 Pending -- -- --
09/04/2022 09/04/22 Price Changed $454,900 +28.2% --
09/04/2022 09/04/22 For Sale $354,900 +182.2% --
06/27/2013 06/27/13 Sold $125,765 +12576400.0% -- View Prior Sale
05/08/2013 05/08/13 Pending -- -- --
05/08/2013 05/08/13 Price Changed $1 -100.0% --
04/24/2013 04/24/13 Off Market $125,765 -- --
04/24/2013 04/24/13 For Sale $85,000 -- --
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 $11,683 $145,984 $16,705 $129,279
2023 $11,243 $131,886 $15,092 $116,794
2022 $7,031 $81,085 $13,761 $67,324
2021 $6,922 $77,583 $12,866 $64,717
2020 $6,755 $74,065 $12,283 $61,782
2019 $6,589 $70,551 $11,700 $58,851
2018 $6,601 $66,463 $11,022 $55,441
2017 $6,463 $62,832 $10,420 $52,412
2016 $6,793 $63,694 $9,667 $54,027
2015 -- $58,382 $8,861 $49,521
2014 -- $40,939 $8,752 $32,187
2013 -- $75,055 $8,983 $66,072
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
  • Section Image
  • Section Image
See All Agents

Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11621376

Midwest Real Estate Data (MRED)

APN: 06-14-133-003