G
Seller's Agent in 2025
Giselle Gaitan
@properties Christie's Int'lAA
(586) 859-9365
1 in this area
74 Total Sales
413 Madison St Chelsea, MI 48118
--
Bed
--
Bath
--
Sq Ft
0.4
Acres
Highlights
- 0.4 Acre Lot
- 1 Fireplace
- 8 Car Garage
- South Meadows Elementary School Rated A-
- Forced Air Heating System
- Laundry Facilities
About This Home
As of June 2025OFFER DEADLINE @ 6 PM MONDAY, MAY 5TH. RARE opportunity to own one of Downtown Chelsea's multi-family homes! This 1920 Dutch Colonial 4-plex just steps away from shops, restaurants, and amenities yields about $66,000 a year in gross income, an impressive 82% growth in revenue over the past 6 years with potential to grow even more as the rental rates are below market rate. The property hosts 4 units. Unit 1 (main floor front): 2 bed, 1 bath; Unit 2 (main floor back): 1 bed, 1 bath; Unit 3 (upper): 1 bed, 1 bath; Unit 4 (basement): 1 bed, 1 bath. Leases expire May 1, 2026. There are 8 parking spots, a 2-car garage, and a spacious green backyard. Tenants share driveway, laundry, and on-site storage in basement. Roof was replaced in 2024. Less than 20 minutes to Ann Arbor and 30 to Jackson. turnkey passive income on this charming FULLY OCCUPIED property! These don't come around often, so schedule your showing today.
Last Agent to Sell the Property
@properties Christie's Int'lAA License #6501442113 Listed on: 05/02/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,206
Year Built
- Built in 1920
Lot Details
- 0.4 Acre Lot
- Lot Dimensions are 66x265
Home Design
- Composition Roof
- Aluminum Siding
Interior Spaces
- 1 Fireplace
Basement
- Basement Fills Entire Space Under The House
- Laundry in Basement
Parking
- 8 Car Garage
- Driveway
Utilities
- No Cooling
- Forced Air Heating System
- Heating System Uses Natural Gas
- Natural Gas Connected
Community Details
- 4 Units
- Laundry Facilities
- Gross Income $65,880
Listing and Financial Details
- The owner pays for trash collection, electricity, water, sewer, gas
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 2, 2025
Closed on
Jun 12, 2025
Sold by
Greenberg David and Greenberg Madelynn
Bought by
Brickley Derek and Brickley Brian
Seller's Agent
Giselle Gaitan
@properties Christie's Int'lAA
Buyer's Agent
Brian Brickley
Guenther Homes, Inc.
List Price
$550,000
Sold Price
$562,000
Premium/Discount to List
$12,000
2.18%
Views
22
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-26.63%
Original Mortgage
$364,250
Outstanding Balance
$364,250
Interest Rate
6.76%
Mortgage Type
New Conventional
Estimated Equity
$164,005
Purchase Details
Listed on
May 2, 2025
Closed on
Jun 11, 2025
Sold by
Brickley Derek and Brickley Brian
Bought by
Brickley Properties Llc
Seller's Agent
Giselle Gaitan
@properties Christie's Int'lAA
Buyer's Agent
Brian Brickley
Guenther Homes, Inc.
List Price
$550,000
Sold Price
$562,000
Premium/Discount to List
$12,000
2.18%
Views
22
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$364,250
Outstanding Balance
$364,250
Interest Rate
6.76%
Mortgage Type
New Conventional
Estimated Equity
$164,005
Purchase Details
Listed on
Mar 14, 2019
Closed on
Apr 11, 2019
Sold by
Pappas John D and Pappas Candace B
Bought by
Greenberg David L and Greenberg Madelynn D
Seller's Agent
Richard Taylor
The Charles Reinhart Company
Buyer's Agent
Richard Taylor
The Charles Reinhart Company
List Price
$324,900
Sold Price
$325,000
Premium/Discount to List
$100
0.03%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.28%
Original Mortgage
$259,200
Interest Rate
4.4%
Mortgage Type
New Conventional
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $562,000 | Ata National Title | |
| Warranty Deed | $562,000 | Ata National Title | |
| Quit Claim Deed | -- | None Listed On Document | |
| Quit Claim Deed | -- | None Listed On Document | |
| Warranty Deed | $325,000 | Liberty Title |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $364,250 | New Conventional | |
| Closed | $364,250 | New Conventional | |
| Previous Owner | $259,200 | New Conventional |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/12/2025 06/12/25 | Sold | $562,000 | +2.2% | -- |
| 05/06/2025 05/06/25 | Pending | -- | -- | -- |
| 05/02/2025 05/02/25 | For Sale | $550,000 | +69.2% | -- |
| 04/12/2019 04/12/19 | Sold | $325,000 | 0.0% | -- |
| 04/08/2019 04/08/19 | Pending | -- | -- | -- |
| 03/14/2019 03/14/19 | For Sale | $324,900 | -- | -- |
Source: Southwestern Michigan Association of REALTORS®
Tax History Compared to Growth
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 | $6,718 | $157,600 | $0 | $0 |
| 2024 | $6,921 | $151,200 | $0 | $0 |
| 2023 | $6,921 | $132,800 | $0 | $0 |
| 2022 | $4,714 | $116,700 | $0 | $0 |
| 2021 | $6,428 | $105,900 | $0 | $0 |
| 2020 | $6,345 | $93,500 | $0 | $0 |
| 2019 | $4,861 | $95,900 | $95,900 | $0 |
| 2018 | $4,732 | $95,200 | $0 | $0 |
| 2017 | $0 | $94,200 | $0 | $0 |
| 2016 | $0 | $67,867 | $0 | $0 |
| 2015 | -- | $67,665 | $0 | $0 |
| 2014 | -- | $65,800 | $0 | $0 |
| 2013 | -- | $65,800 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Giselle Gaitan
-
Brian Brickley
Buyer's Agent in 2025
Brian Brickley
Guenther Homes, Inc.
(734) 260-2119
1 in this area
61 Total Sales
-
Richard Taylor
Seller's Agent in 2019
Richard Taylor
The Charles Reinhart Company
(734) 223-5656
28 in this area
192 Total Sales
Map
Source: Southwestern Michigan Association of REALTORS®
MLS Number: 25017653
APN: 07-07-330-004
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.
Information is deemed reliable but not guaranteed.
Copyright 2025 MichRIC, LLC. All rights reserved.
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