NOT LISTED FOR SALE

406 18th St Jackson, MI 49203

Estimated Value: $188,000 - $286,000

Studio
-- Bath
-- Sq Ft
1.36 Acres

Last Sold August 12, 2021

Last sale price $305,000

Est. 27% decrease in value since last sale

Current estimated payment $1,501/month

16 Days on Market

Highlights

  • 1.36 Acre Lot
  • Wooded Lot
  • Forced Air Heating System

About This Home

As of August 2021

Great income/investment opportunity in Summit Township. Two duplex buildings, built in 1995. South building (410) units are both 1 bedroom, spacious 2nd floor bedroom, large bath with skylight, jetted tub & separate shower, large walk-in closet, 1.5 baths, main floor laundry - very attractive setup make for easy renting! North building (406) units are both 2 bedroom, 1.5 baths, good closet/storage space, main floor laundry. New roof on both buildings in Oct. 2020. Owner built this property to be maintenance free & attractive apartments for tenants, and it has been a great investment, and will continue to be one! Owner has never had an issue renting the apartments, rents are relatively low & could be increased. Storage shed space for each unit & paved driveway for each unit. Income growth

Last Agent to Sell the Property

Timothy Atkins

ERA REARDON REALTY, L.L.C. License #6506036004 Listed on: 06/18/2021

ERA REARDON REALTY, L.L.C.

Last Buyer's Agent

Sherry Hood

HOWARD HANNA REAL ESTATE SERVI License #6501372625

HOWARD HANNA REAL ESTATE SERVI

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $4,998

Year Built

  • Built in 1995

Lot Details

  • 1.36 Acre Lot
  • Wooded Lot

Parking

  • 4 Parking Spaces

Home Design

  • Stone

Basement

  • Crawl Space

Utilities

  • Forced Air Heating System
  • Space Heater
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for electricity, gas
  • The owner pays for water

Community Details

Overview

  • 3 Units
  • Belmont Park Subdivision

Building Details

  • Operating Expense $15,401
  • Gross Income $38,400
  • Net Operating Income $66,868

Property Details

Home Type

Apartment

Est. Annual Taxes

$4,998

Year Built

Built in 1995

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1995
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Crawl Space

Exterior Features

  • Construction Materials: Stone
  • List Price: 320000.0
  • Lot Features: Wooded
  • Number of Buildings: 1
  • Road Surface Type: Paved

Garage/Parking

  • Total Parking Spaces: 4.0

Utilities

  • Heating: Forced Air, Space Heater
  • Heating: Yes
  • Utilities: Cable Connected, Public Water, Public Sewer

Lot Info

  • Lot Size Acres: 1.36
  • Lot Size Area: 1.36
  • Lot Size Sq Ft: 59242.0

Rental Info

  • Owner Pays: Water
  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 38400.0
  • Net Operating Income: 66868.0
  • Number of Units Total: 3
  • Operating Expense: 15401.0

Tax Info

  • Tax Annual Amount: 4998.23

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 18, 2021
Closed on
Aug 12, 2021
Sold by
Poole Steve D and Poole Jane Marie
Bought by
Kenel William F
Seller's Agent
Timothy Atkins
ERA REARDON REALTY, L.L.C.
Buyer's Agent
Sherry Hood
HOWARD HANNA REAL ESTATE SERVI
List Price
$320,000
Sold Price
$305,000
Premium/Discount to List
-$15,000
-4.69%
Current Estimated Value
$223,858

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$81,142
Avg. Annual Appreciation
-6.79%
Source: Public Records

Range of Values:

--
Value Increase
--
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

Purchase History

Date Buyer Sale Price Title Company
Kenel William F $305,000 None Available
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/12/2021 08/12/21 Sold $305,000 -4.7% --
08/09/2021 08/09/21 Pending -- -- --
07/23/2021 07/23/21 For Sale $320,000 -- --
Source: MichRIC

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 $3,967 $89,500 $0 $0
2024 $31 $79,400 $0 $0
2023 $2,929 $70,300 $0 $0
2022 $3,665 $63,000 $0 $0
2021 $2,244 $60,600 $0 $0
2020 $2,212 $55,600 $0 $0
2019 $2,184 $50,700 $0 $0
2018 $2,121 $46,900 $0 $0
2017 $1,819 $44,800 $0 $0
2016 $1,453 $42,300 $42,300 $0
2015 $1,737 $39,600 $39,600 $0
2014 $1,737 $38,000 $38,000 $0
2013 -- $38,000 $38,000 $0
Source: Public Records

Agents Affiliated with this Home

  • Timothy Atkins

    Seller's Agent in 2021

    Timothy Atkins

    ERA REARDON REALTY, L.L.C.

    (517) 937-2473

    29 in this area

    166 Total Sales

    Timothy Atkins
    Section Image
  • Sherry Hood

    Buyer's Agent in 2021

    Sherry Hood

    HOWARD HANNA REAL ESTATE SERVI

    (517) 936-9719

    25 in this area

    115 Total Sales

    Sherry Hood
    Section Image
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Map

Source: MichRIC

MLS Number: 21095218

MichRIC

APN: 090-13-04-113-109-00

Michigan Jackson County Jackson 49203

406 18th St, Jackson, MI

Not Listed for Sale

MultiFamily

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