NOT LISTED FOR SALE

330 N Dibble Ave Lansing, MI 48917

Delta Township Neighborhood

Estimated Value: $217,000 - $246,000

2 Beds
2 Baths
1,832 Sq Ft
$128/Sq Ft Est. Value

Last Sold October 30, 2020

Last sale price $176,500 $96 Per Sq Ft

Est. 33% increase in value since last sale

Current estimated payment $1,624/month

7 Days on Market

Highlights

  • Covered patio or porch
  • Heating Available
  • 4-minute walk to Michigan Avenue Park
  • 4 Car Attached Garage

About This Home

As of October 2020

A great opportunity for the real estate investor who is looking for a property with the potential for a high cap rate, a healthy net operating income, great tenants who pay on time, and to avoid all of the ''typical problems'' that plague the average real estate investor. This recently-updated, cash-flowing duplex located in Delta Township may be just the opportunity you have been looking for. Each unit is a two-bedroom 1.5 bath unit. One side is complete with a finished basement and the other has a full basement but is unfinished. Both units are pretty much mirror images of each other with a half bath, living room, and kitchen on the first floor. Two bedrooms and a full bathroom on the second floor. Monthly, this unit generates an income of $2,050; extrapolated over a year, that's $24,600. With minimal repair expenses,
this unit has the potential to produce a double-digit cap rate. That's hard to come by in this post-pandemic environment.
Even if you financed this property to reach a higher return on equity, you still have the opportunity to produce a healthy
cap rate.

Last Listed By

Alex Craig

EXIT Realty Home Partners License #6501406835 Listed on: 09/23/2020

EXIT Realty Home Partners

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,543

Year Built

  • Built in 1979

Lot Details

  • 0.45 Acre Lot
  • Lot Dimensions are 99x200

Parking

  • 4 Car Attached Garage

Home Design

  • Shingle Roof

Interior Spaces

  • 1,832 Sq Ft Home
  • 2-Story Property
  • Basement Fills Entire Space Under The House

Outdoor Features

  • Covered patio or porch

Utilities

  • Heating Available
  • Gas Water Heater

Listing and Financial Details

  • Total Actual Rent $24,600

Community Details

Overview

  • 2 Units
  • Parkview Acres Subdivision

Building Details

  • New Taxes Expense $3,543

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,543

Year Built

Built in 1979

Lot Details

0

Listing Details

  • Property Conditions Completion Date: 1978-12-31
  • Gross Rent: 24600.0
  • Tax Year: 2019
  • Levels: Two
  • Year Built: 1979
  • Lot Size Acres: 0.45
  • Lot Size: 99x200
  • Subdivision Name: Parkview Acres
  • Above Grade Finished Sq Ft: 1832.0
  • General Property Info:Lot Size Dimensions: 99x200
  • General Property Info:Above Grade Finished Area: 1832.0
  • Levels:Two2: Yes
  • Sewer:Public Sewer: Yes
  • Roof:Shingle: Yes
  • General Property Info:ECO Friendly Features: No
  • Heating Other2: Yes
  • Tax Info:Taxes2: 3543.15
  • Tax Info:Zoning3: Residential
  • Water Heater:Gas Water Heater2: Yes
  • General Property Info:Building 1 Description: Multi Family
  • General Property Info:_pound_ of Units: 2
  • Annual Inc Expense:Tax Expense2: 3543.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Heating: Other
  • Property Type: Resid/Multi-Family
  • Full Basement: Yes

Exterior Features

  • Roof: Shingle
  • Patio And Porch Features: Covered
  • Construction Type: Rough Sawn
  • Patio Porch Features:Covered: Yes

Garage/Parking

  • Parking Features: Attached
  • Attached Garage: Yes
  • Parking Features:Attached: Yes
  • General Property Info:Parking Total: 4

Utilities

  • Sewer: Public Sewer
  • Water Source: Public
  • Heating Yn: Yes

Schools

  • Junior High Dist: Waverly

Lot Info

  • Lot Size Sq Ft: 19602.0
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Carrier Route: 2824

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 23, 2020
Closed on
Oct 30, 2020
Sold by
Latchaw Corey
Bought by
Smith Adam James
Seller's Agent
Alex Craig
EXIT Realty Home Partners
Buyer's Agent
Kathryn Gingery
Century 21 Affiliated
List Price
$174,000
Sold Price
$176,500
Premium/Discount to List
$2,500
1.44%
Total Days on Market
7
Current Estimated Value
$234,269

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$57,769
Avg. Annual Appreciation
6.81%
Original Mortgage
$132,375
Outstanding Balance
$119,661
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$118,212

Purchase Details

Listed on
Jan 30, 2015
Closed on
Jan 26, 2015
Sold by
Federal Home Loan Mortgage Corporation
Bought by
Latchaw Corey
Seller's Agent
Mike Parsley
Coldwell Banker Professionals-Delta
Buyer's Agent
Erin Klinger
RE/MAX Real Estate Professionals
List Price
$104,900
Sold Price
$80,000
Premium/Discount to List
-$24,900
-23.74%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
14.73%

Purchase Details

Closed on
Apr 18, 2013
Sold by
Unkefer Daniel P
Bought by
Federal Home Loan Mortgage Corporation

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
Smith Adam James $176,500 Liberty Title
Latchaw Corey $80,000 None Available
Federal Home Loan Mortgage Corporation $118,306 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Smith Adam James $132,375
Previous Owner Unkefer Daniel P $112,000
Previous Owner Unkefer Daniel P $80,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/30/2020 10/30/20 Sold $176,500 +1.4% $96 / Sq Ft
09/22/2020 09/22/20 For Sale $174,000 +117.5% $95 / Sq Ft
01/29/2015 01/29/15 Sold $80,000 -23.7% $44 / Sq Ft
01/29/2015 01/29/15 Pending -- -- --
01/29/2015 01/29/15 For Sale $104,900 -- $57 / 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
2024 $4,570 $93,800 $0 $0
2023 $2,589 $87,700 $0 $0
2022 $4,210 $80,000 $0 $0
2021 $4,040 $69,700 $0 $0
2020 $3,611 $62,400 $0 $0
2019 $3,486 $133,838 $0 $0
2018 $3,015 $58,600 $0 $0
2017 $2,953 $58,600 $0 $0
2016 -- $56,700 $0 $0
2015 -- $56,700 $0 $0
2014 -- $54,400 $0 $0
2013 -- $55,900 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • A

    Seller's Agent in 2020

    Alex Craig

    EXIT Realty Home Partners

    (734) 752-2496

    1 in this area

    7 Total Sales

    Alex Craig
    Section Image
  • Kathryn Gingery

    Buyer's Agent in 2020

    Kathryn Gingery

    Century 21 Affiliated

    (313) 410-0196

    1 in this area

    110 Total Sales

    Kathryn Gingery
    Section Image

  • M

    Seller's Agent in 2015

    Mike Parsley

    Coldwell Banker Professionals-Delta

  • Erin Klinger

    Buyer's Agent in 2015

    Erin Klinger

    RE/MAX Michigan

    (517) 706-2567

    6 in this area

    27 Total Sales

    Erin Klinger
    Section Image
See All Agents

Map

Source: Greater Lansing Association of Realtors®

MLS Number: 250001

Greater Lansing Association of Realtors®

APN: 04006900026100

Michigan Eaton County Lansing 48917 Delta Township

330 N Dibble Ave, Lansing, MI

Homes for Sale in Lansing, MI

This home is located at 330 N Dibble Ave, Lansing, MI 48917 since 23 September 2020 and is currently estimated at $234,269, approximately $127 per square foot. This property was built in 1979. 330 N Dibble Ave is a home located in Eaton County with nearby schools including Waverly Senior High School, Windemere Park Charter Academy, and New Covenant Christian School.

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