NOT LISTED FOR SALE

406 Richard St Spring Arbor, MI 49283

Spring Arbor Neighborhood

Estimated Value: $202,000 - $236,474

-- Bed
-- Bath
-- Sq Ft
0.27 Acres

Last Sold December 10, 2015

Last sale price $100,000

Est. 123% increase in value since last sale

Current estimated payment $1,399/month

22 Days on Market

About This Home

As of December 2015

Money maker! Current tenants previously signed a year lease. The landlord/tenant practice has been to just continue as is without having signed a yearly lease. All new insulated double pane vinyl clad windows installed Dec/Jan 15. Sewer line has been replaced from the inside out, no old outdated cast iron. This one is ready to go for the conscientious investor.

Last Agent to Sell the Property

John Rockey

EXIT REALTY 1ST LLC License #6501316560 Listed on: 10/14/2015

EXIT REALTY 1ST LLC

Last Buyer's Agent

John Rockey

EXIT REALTY 1ST LLC License #6501316560 Listed on: 10/14/2015

EXIT REALTY 1ST LLC

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $2,490

Year Built

  • Built in 1958

Lot Details

  • 0.27 Acre Lot

Home Design

  • Wood Siding

Utilities

  • Forced Air Heating System
  • Space Heater

Listing and Financial Details

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

Community Details

Overview

  • Henderson Subdivision

Building Details

  • Operating Expense $6,932
  • Gross Income $10,800
  • Net Operating Income $15,725

Property Details

Home Type

Apartment

Est. Annual Taxes

$2,490

Year Built

Built in 1958

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1958
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Construction Materials: Wood Siding
  • List Price: 109900.0
  • Road Surface Type: Paved
  • Water Body Name: None
  • Waterfront: No

Utilities

  • Heating: Forced Air, Space Heater
  • Heating: Yes

Lot Info

  • Lot Size Acres: 0.27
  • Lot Size Area: 0.27
  • Lot Size Sq Ft: 11761.2

Rental Info

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

Multi Family

  • Gross Income: 10800.0
  • Net Operating Income: 15724.64
  • Operating Expense: 6932.36

Tax Info

  • Tax Annual Amount: 2490.04

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 14, 2015
Closed on
Dec 10, 2015
Sold by
Whiteman Raymond E and Whiteman Lorraine E
Bought by
Allen Gary C and Allen Janice E
Seller's Agent
John Rockey
EXIT REALTY 1ST LLC
Buyer's Agent
John Rockey
EXIT REALTY 1ST LLC
Sold Price
$100,000
Current Estimated Value
$222,684

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$122,684
Avg. Annual Appreciation
7.72%
Original Mortgage
$80,000
Outstanding Balance
$33,703
Interest Rate
3.09%
Mortgage Type
New Conventional
Estimated Equity
$171,716
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
Allen Gary C $100,000 Midstate Title Agency Of Sou
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Allen Gary C $80,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/10/2015 12/10/15 Sold $100,000 -- --
11/05/2015 11/05/15 Pending -- -- --
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 $2,160 $82,800 $0 $0
2024 $1,260 $81,200 $0 $0
2023 $1,261 $74,300 $0 $0
2022 $1,963 $68,600 $0 $0
2021 $1,928 $59,990 $0 $0
2020 $1,905 $49,540 $0 $0
2019 $1,815 $47,300 $0 $0
2018 $1,812 $46,380 $8,450 $37,930
2017 $1,715 $45,320 $0 $0
2016 $1,359 $56,900 $56,900 $0
2015 $47,885 $52,800 $52,800 $0
2014 $47,885 $49,980 $0 $0
2013 -- $49,980 $49,980 $0
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2015

    John Rockey

    EXIT REALTY 1ST LLC

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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 21035004

Southwestern Michigan Association of REALTORS®

APN: 116-12-16-426-003-00

Michigan Jackson County Spring Arbor 49283 Spring Arbor

406 Richard St, Spring Arbor, MI

This home is located at 406 Richard St, Spring Arbor, MI 49283 since 14 October 2015 and is currently estimated at $222,369. This property was built in 1958. 406 Richard St is a home located in Jackson County with nearby schools including Western High School, Trinity Lutheran School, and Lumen Christi Catholic 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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