NOT LISTED FOR SALE

328 Lyon St NE Unit 330 Grand Rapids, MI 49503

Heritage Hill Neighborhood

Estimated Value: $407,000 - $465,000

-- Bed
1 Bath
-- Sq Ft
3,659 Sq Ft Lot

Last Sold May 20, 2016

Last sale price $231,000

Est. 84% increase in value since last sale

Current estimated payment $2,883/month

2 Days on Market

Highlights

  • Corner Lot: Yes
  • Laundry Facilities
  • Wood Siding
  • Forced Air Heating System

About This Home

As of May 2016

Location, location, location! Terrific Heritage Hill 2 unit just a minutes’ walk to GRCC, Kendall College, GVSU, Spectrum Health, and downtown. This building sits on the corner of Prospect and Lyon. Up/down units feature 2 bedrooms and 1 bath each both with separate entrances. Rents are currently well below the market average of 1100-1200/mo. and the future owner could split the gas to make this even more profitable than it is today. Furnaces and water heater have been replaced in the last 5 years. This building could also make a great place for an owner occupant.

Last Agent to Sell the Property

Joshua Heyboer

Keller Williams GR East Listed on: 04/03/2016

Keller Williams GR East

Last Buyer's Agent

Scott Bradford

RE/MAX of Grand Rapids (FH) License #6501377797

RE/MAX of Grand Rapids (FH)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,706

Year Built

  • Built in 1878

Lot Details

  • 3,659 Sq Ft Lot
  • Corner Lot: Yes

Home Design

  • Composition Roof
  • Wood Siding

Basement

  • Michigan Basement
  • Partial Basement

Utilities

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

Listing and Financial Details

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

Community Details

Building Details

  • Insurance Expense $1,065
  • Maintenance Expense $408
  • Manager Expense $667
  • Utility Expense $1,860
  • Operating Expense $6,786
  • Gross Income $20,400
  • Net Operating Income $12,594

Additional Features

  • 2 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,706

Year Built

Built in 1878

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1878
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Basement, Michigan Basement

Exterior Features

  • Construction Materials: Wood Siding
  • List Price: 219900.0
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Composition
  • Waterfront: No
  • Access Feat:Accessibility Features2: No

Utilities

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

Lot Info

  • Lot Size Acres: 0.08
  • Lot Size Area: 0.08
  • Lot Size Sq Ft: 3659.0
  • Zoning Description: Res
  • ResoLotSizeUnits: Acres

Rental Info

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

Multi Family

  • Gross Income: 20400.0
  • Insurance Expense: 1065.0
  • Maintenance Expense: 408.0
  • Manager Expense: 667.0
  • Net Operating Income: 12594.0
  • Number of Units Total: 2
  • Operating Expense: 6786.0

Tax Info

  • Tax Annual Amount: 2706.0
  • Tax Year: 2015

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 18, 2020
Sold by
Shulak Daniel E and Shulak Amanda B
Bought by
Shulak Family Holdings I Llc
Current Estimated Value
$425,636

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$60,000
Interest Rate
3.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 24, 2020
Sold by
Miller Kathryn
Bought by
Oudsema Carol A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$60,000
Interest Rate
3.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 24, 2020
Sold by
Outsdama Carel
Bought by
Shulak Amanda B and Shulak Daniel E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$60,000
Interest Rate
3.1%
Mortgage Type
New Conventional

Purchase Details

Listed on
Apr 3, 2016
Closed on
May 20, 2016
Sold by
Pot Belly Llc
Bought by
Miller Kathryn and Oudsema Carol A
Seller's Agent
Joshua Heyboer
Keller Williams GR East
Buyer's Agent
Scott Bradford
RE/MAX of Grand Rapids (FH)
List Price
$219,900
Sold Price
$231,000
Premium/Discount to List
$11,100
5.05%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.95%
Original Mortgage
$184,800
Interest Rate
3.59%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 29, 2011
Sold by
Zak Heather L
Bought by
Pot Belly Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$124,000
Interest Rate
4.86%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 12, 2007
Sold by
Knauf Andrew T
Bought by
Ly Heather T

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$129,600
Interest Rate
6.16%
Mortgage Type
Unknown

Purchase Details

Closed on
Sep 18, 1998
Sold by
Cortes Cortes C C and Cortes M
Bought by
Knauf A and Pot Belly Llc

Purchase Details

Closed on
Apr 24, 1997
Bought by
Cortes C and Pot Belly Llc

Purchase Details

Closed on
Mar 31, 1995
Bought by
Cortes and Pot Belly Llc

Purchase Details

Closed on
Mar 30, 1995
Bought by
Sonneveldt and Pot Belly Llc

Purchase Details

Closed on
Mar 29, 1995
Sold by
Motiff Motiff J J and Motiff Vanostenbg
Bought by
Pot Belly Llc

Purchase Details

Closed on
Jun 8, 1993

Purchase Details

Closed on
Mar 3, 1993
Source: Public Records

Range of Values:

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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
Shulak Family Holdings I Llc -- None Available
Shulak Family Holdings I Llc -- None Listed On Document
Shulak Family Holdings I Llc -- None Available
Shulak Family Holdings I Llc -- None Listed On Document
Oudsema Carol A -- None Available
Oudsema Carol A -- None Available
Shulak Amanda B $312,500 None Available
Shulak Amanda B $312,500 None Available
Miller Kathryn $231,000 Grand Rapids Title Co Llc
Miller Kathryn $231,000 Grand Rapids Title Co Llc
Pot Belly Llc -- None Available
Zak Heather L -- None Available
Pot Belly Llc -- None Available
Zak Heather L -- None Available
Ly Heather T $162,000 Metropolitan Title Company
Ly Heather T $162,000 Metropolitan Title Company
Knauf A $125,000 --
Knauf A $125,000 --
Cortes C -- --
Cortes C -- --
Cortes $78,800 --
Cortes $78,800 --
Sonneveldt $62,000 --
Sonneveldt $62,000 --
Pot Belly Llc -- --
Pot Belly Llc -- --
-- $110,000 --
-- $110,000 --
-- $220,000 --
-- $220,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Oudsema Carol A $60,000
Previous Owner Miller Kathryn $184,800
Previous Owner Zak Heather L $124,000
Previous Owner Ly Heather T $129,600
Previous Owner Ly Heather T $16,200
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/20/2016 05/20/16 Sold $231,000 +5.0% --
04/05/2016 04/05/16 Pending -- -- --
04/03/2016 04/03/16 For Sale $219,900 -- --
Source: Southwestern Michigan 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 $6,149 $156,100 $0 $0
2024 $6,149 $147,800 $0 $0
2023 $6,100 $129,900 $0 $0
2022 $5,797 $111,800 $0 $0
2021 $5,757 $110,300 $0 $0
2020 $3,533 $101,200 $0 $0
2019 $3,650 $87,200 $0 $0
2018 $3,533 $80,500 $0 $0
2017 $3,428 $72,400 $0 $0
2016 $2,357 $61,300 $0 $0
2015 $2,706 $61,300 $0 $0
2013 -- $52,500 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Joshua Heyboer

    Seller's Agent in 2016

    Joshua Heyboer

    Keller Williams GR East

    (616) 446-4067

    155 Total Sales

    Joshua Heyboer
    Section Image
  • Scott Bradford

    Buyer's Agent in 2016

    Scott Bradford

    RE/MAX Michigan

    (616) 551-9735

    2 in this area

    180 Total Sales

    Scott Bradford
    Section Image
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 16014161

Southwestern Michigan Association of REALTORS®

APN: 41-14-30-180-012

Michigan Kent County Grand Rapids 49503 Heritage Hill

328 Lyon St NE Unit 330, Grand Rapids, MI

This home is located at 328 Lyon St NE Unit 330, Grand Rapids, MI 49503 since 03 April 2016 and is currently estimated at $425,636. This property was built in 1878. 328 Lyon St NE Unit 330 is a home located in Kent County with nearby schools including Grand Rapids Montessori Academy, Alger Middle School, and Ottawa Hills High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Southwestern Michigan Association of REALTORS® Information is deemed reliable but not guaranteed.
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