NOT LISTED FOR SALE

Estimated Value: $182,000 - $234,000

Studio
-- Bath
-- Sq Ft
5,881 Sq Ft Lot

Sale Details

Date Sold: July 19, 2022

Last sale price $172,000

Est. 25% increase in value since last sale

Current estimated payment $1,387 / mo

Highlights

  • 0.14 Acre Lot
  • Forced Air Heating System
  • High Speed Internet
  • Corner Lot
  • Laundry Facilities
  • 3-minute walk to S Westnedge Park

About This Home

As of July 2022

This is a great opportunity to own a 4-unit minutes away from downtown amenities and colleges. Live in one unit and have tenants pay your mortgage! Features two 2-bedroom apartments and two 1-bedroom apartments. New roof in 2019 and city certified this month. Off street parking and shared basement laundry are great features that help to attract tenants.

Last Agent to Sell the Property

Missy Dahlinger

Berkshire Hathaway HomeServices MI Listed on: 03/14/2022

Berkshire Hathaway HomeServices MI

Last Buyer's Agent

Ryan Rinck

Keller Williams Realty Rivertown License #6501427764

Keller Williams Realty Rivertown

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $3,898

Year Built

  • Built in 1886

Lot Details

  • 5,881 Sq Ft Lot
  • Lot Dimensions are 50.77x115.59
  • Corner Lot

Home Design

  • Composition Roof
  • Aluminum Siding
  • Shingle Siding

Basement

  • Basement Fills Entire Space Under The House

Parking

  • 6 Parking Spaces
  • Unpaved Driveway
  • Unpaved Parking

Utilities

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

Listing and Financial Details

  • The owner pays for electricity, gas, sewer, trash collection

Community Details

Building Details

  • Insurance Expense $1,669
  • Maintenance Expense $2,407
  • Manager Expense $2,790
  • Utility Expense $6,667
  • Operating Expense $13,533
  • Gross Income $38,820
  • Net Operating Income $25,287

Additional Features

  • 4 Units
  • Laundry Facilities

Property Details

Home Type

Apartment

Est. Annual Taxes

$3,898

Year Built

Built in 1886

Lot Details

5,881 Sq Ft Lot

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi Family
  • New Construction: No
  • Year Built: 1886
  • General Property Info:Basement: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Basement: Yes

Exterior Features

  • Construction Materials: Aluminum Siding, Shingle Siding
  • List Price: 170000.0
  • Lot Features: Corner Lot, Sidewalk
  • Number of Buildings: 1
  • Roof: Composition
  • Waterfront: No
  • Access Feat:Accessibility Features2: No

Garage/Parking

  • Attached Garage: No
  • Parking Features: Unpaved
  • Total Parking Spaces: 6.0

Utilities

  • Cooling: None
  • Cooling: No
  • Heating: Forced Air
  • Heating: Yes
  • Sewer: Public Sewer
  • Utilities: Natural Gas Connected, Electricity Connected, Cable Available, Electricity Available, Natural Gas Available, Storm Sewer
  • Water Source: Public Water

Lot Info

  • Lot Size Acres: 0.135
  • Lot Size Area: 0.14
  • Lot Dimensions: 50.77x115.59
  • Lot Size Sq Ft: 5881.0

Rental Info

  • Owner Pays: Electricity, Gas, Sewer, Trash Collection
  • Tenant Pays: None

Multi Family

  • Gross Income: 38820.0
  • Insurance Expense: 1668.71
  • Maintenance Expense: 2407.0
  • Manager Expense: 2790.05
  • Net Operating Income: 25287.47
  • Number of Units Total: 4
  • Operating Expense: 13532.53

Tax Info

  • Tax Annual Amount: 3897.97
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 14, 2022
Closed on
Jul 19, 2022
Sold by
Wall Street Llc
Bought by
Rinck Ryan
Seller's Agent
Missy Dahlinger
Berkshire Hathaway HomeServices MI
Buyer's Agent
Ryan Rinck
Keller Williams Realty Rivertown
List Price
$170,000
Sold Price
$172,000
Premium/Discount to List
$2,000
1.18%
Current Estimated Value
$214,179

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$42,179
Avg. Annual Appreciation
6.06%
Original Mortgage
$168,884
Interest Rate
4.25%
Mortgage Type
FHA

Purchase Details

Listed on
Dec 27, 2018
Closed on
Mar 4, 2019
Sold by
Strombeck Andrew P
Bought by
Wall Street Llc
Seller's Agent
Ramon Huerta
Bellabay Realty, LLC
Buyer's Agent
Missy Dahlinger
Berkshire Hathaway HomeServices MI
List Price
$115,000
Sold Price
$107,000
Premium/Discount to List
-$8,000
-6.96%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
15.08%

Purchase Details

Closed on
Nov 26, 2007
Sold by
Titan Management Group Llc
Bought by
Strombeck Andrew P

Purchase Details

Closed on
Nov 15, 2007
Sold by
Strombeck Andrew and Olson Sarah
Bought by
Titan Management Group Llc

Purchase Details

Closed on
Sep 21, 2007
Sold by
Titan Management Group Llc
Bought by
Strombeck Andrew

Purchase Details

Closed on
Nov 21, 2006
Sold by
Tovara Properties Llc
Bought by
Titan Management Group Llc

Purchase Details

Closed on
Apr 30, 2004
Sold by
The 412 Forest Lp
Bought by
Tovara Properties Llc

Purchase Details

Closed on
Dec 18, 2002
Sold by
412 Forest Land Tr Equity Solutions Llc
Bought by
Rininger Rich A and Rininger Kieu

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$91,500
Interest Rate
6.13%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 27, 2002
Sold by
Titan Management Group Llc
Bought by
The 412 Forest Lp
Source: Public Records
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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
Rinck Ryan $172,000 River West Title Agency
Wall Street Llc $107,000 None Available
Strombeck Andrew P $125,000 Metropolitan
Titan Management Group Llc -- None Available
Strombeck Andrew -- None Available
Titan Management Group Llc -- None Available
Tovara Properties Llc -- --
Rininger Rich A $100,000 Metro
The 412 Forest Lp -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Rinck Ryan $168,884
Previous Owner Rininger Rich A $91,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
07/19/2022 07/19/22 Sold $172,000 +1.2% --
03/14/2022 03/14/22 For Sale $170,000 +58.9% --
03/11/2022 03/11/22 Pending -- -- --
03/04/2019 03/04/19 Sold $107,000 -7.0% -- View Prior Sale
01/03/2019 01/03/19 Pending -- -- --
12/27/2018 12/27/18 For Sale $115,000 -- --
Source: MichRIC

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 $2,796 $102,500 $0 $0
2024 $2,879 $92,600 $0 $0
2023 $2,679 $80,800 $0 $0
2022 $4,184 $68,800 $0 $0
2021 $3,898 $62,600 $0 $0
2020 $3,824 $55,600 $0 $0
2019 $2,467 $46,400 $0 $0
2018 $2,523 $40,800 $0 $0
2017 $2,889 $38,400 $0 $0
2016 $2,889 $34,800 $0 $0
2015 $2,889 $34,800 $0 $0
2014 $2,889 $34,000 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MichRIC

MLS Number: 22007960

MichRIC

APN: 06-22-316-003

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