NOT LISTED FOR SALE

420 N Lake St Ishpeming, MI 49849

Estimated Value: $196,000 - $235,000

4 Beds
3 Baths
2,374 Sq Ft
$91/Sq Ft Est. Value

Last Sold May 29, 2024

Last sale price $195,000 $82 Per Sq Ft

Est. 7% increase in value since last sale

Current estimated payment $1,393/month

3 Days on Market

Highlights

  • Wood Flooring
  • 1 Car Detached Garage
  • Hot Water Heating System
  • Corner Lot
  • Ceiling height of 9 feet or more
  • Wood Siding

About This Home

As of May 2024

This TRIPLEX & MULTI-FAMILY home is very well-maintained and functions as a successful investment property, featuring three units. Within walking distance to dining, shopping & the library in downtown Ishpeming as well as the Iron Ore Heritage Trail. Since 2021, the home had been newly painted on the exterior, has had recent electrical updates, a newer roof, and brand new windows on the second floor. There is plenty of parking space along with a 1-car, detached garage. Landlord pays all utilities. There are two meters. The apartments are situated as follows: Apt. #1 $1,250/mo. all utilities included, 2 bedrooms, 1 bathroom. Apt. #2 $1,000/mo. all utilities included, 1 bedroom, 1 bathroom. Apt. #3 $825/mo. all utilities included, 1 bedroom, 1 bathroom.

Last Agent to Sell the Property

Don Schinella

SELECT REALTY License #UPAR-6502349729 Listed on: 04/26/2024

Last Buyer's Agent

Michael Golisek

RE/MAX 1ST REALTY License #UPAR

RE/MAX 1ST REALTY

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1890

Lot Details

  • 4,792 Sq Ft Lot
  • Lot Dimensions are 76x128x148
  • Corner Lot

Parking

  • 1 Car Detached Garage

Home Design

  • Wood Siding

Interior Spaces

  • 2-Story Property
  • Ceiling height of 9 feet or more
  • Wood Flooring
  • Oven or Range
  • Washer
  • Basement

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Full Bathrooms

Utilities

  • Hot Water Heating System
  • Separate Meters
  • Gas Water Heater

Community Details

  • 3 Units

Listing and Financial Details

  • Assessor Parcel Number 52-51-110-008-00

Property Details

Home Type

Multi-Family

Year Built

Built in 1890

Lot Details

0

Listing Details

  • Originating MLS: Upper Peninsula Assoc of Realtors
  • Class: MULTIFAMILY
  • Type: 1 To 4 Units
  • Type Of Property: Multi-Family
  • Structure Style: 2 Story
  • Total Tax Amount: 2504
  • Year Built: 1890
  • Mail City: Ishpeming
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Interior Amenities: 9 Ft + Ceilings, Hardwood Floors
  • Appliances: Range/Oven, Refrigerator, Washer
  • Basement: Yes
  • Bedrooms: 4
  • Full Bathrooms: 3
  • Total Bathrooms: 3
  • Source of Sq Ft: Cubicasa

Exterior Features

  • Construction: Wood
  • Frontage: 76
  • Foundation Type: Basement, Crawl
  • Roads: Curbed, Paved Street, Year Round

Garage/Parking

  • Garage Type: Detached Garage
  • Garage Spaces: 1

Utilities

  • Water: Public Water
  • Water Heater: Gas
  • Fuel Type: Natural Gas
  • Heating System: Hot Water
  • Separate Electric: Yes
  • Sewer/Septic System: Public Sanitary

Lot Info

  • Assessor Parcel Number: 52-51-110-008-00
  • Location: Corner Lot
  • Lot Dimensions: 76x128x148
  • Acreage: 0.11
  • Zoning: Residential
  • Geo Subdivision: MI

Tax Info

  • Summer Tax: Year: 2023, Amount: $1,279.00
  • Winter Tax: Year: 2023, Amount: $1,225.00
  • Total Tax: Amount: $2,504.00

Multi Family

  • Total Units: 3

MLS Schools

  • School District: Ishpeming Public School District

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 26, 2024
Closed on
May 29, 2024
Sold by
Bartlett Kimberlyn
Bought by
Tanagan Properties Llc
Seller's Agent
Don Schinella
SELECT REALTY
Buyer's Agent
Michael Golisek
RE/MAX 1ST REALTY
List Price
$195,000
Sold Price
$195,000
Views
7
Current Estimated Value
$209,154

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$14,154
Avg. Annual Appreciation
6.41%
Original Mortgage
$156,000
Outstanding Balance
$154,040
Interest Rate
7.1%
Mortgage Type
New Conventional
Estimated Equity
$61,070

Purchase Details

Listed on
Jun 18, 2021
Closed on
Aug 10, 2021
Sold by
Rivard Randall R
Bought by
Bartlett Kimberlyn
Seller's Agent
Darlene Martin
SELECT REALTY
Buyer's Agent
Don Schinella
SELECT REALTY
List Price
$129,900
Sold Price
$123,500
Premium/Discount to List
-$6,400
-4.93%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
17.72%
Original Mortgage
$105,000
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 29, 1995
Bought by
Rivard Randal
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
Tanagan Properties Llc $195,000 None Listed On Document
Bartlett Kimberlyn $123,500 Odea Nordeen And Pickens Pc
Rivard Randal -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Tanagan Properties Llc $156,000
Previous Owner Bartlett Kimberlyn $105,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
05/29/2024 05/29/24 Sold $195,000 0.0% $82 / Sq Ft
04/26/2024 04/26/24 For Sale $195,000 +57.9% $82 / Sq Ft
08/10/2021 08/10/21 Sold $123,500 -4.9% $50 / Sq Ft View Prior Sale
06/22/2021 06/22/21 Pending -- -- --
06/18/2021 06/18/21 For Sale $129,900 -- $52 / Sq Ft
Source: Upper Peninsula 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 $3,564 $86,050 $0 $0
2024 $12 $85,500 $0 $0
2023 $502 $69,800 $0 $0
2022 $2,182 $43,950 $0 $0
2021 $648 $45,800 $0 $0
2020 $634 $43,950 $0 $0
2019 $715 $40,100 $0 $0
2018 $695 $38,850 $0 $0
2017 $676 $38,750 $0 $0
2016 $656 $13,550 $0 $0
2015 -- $13,550 $0 $0
2014 -- $14,050 $0 $0
2012 -- $12,150 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Upper Peninsula Association of REALTORS®

MLS Number: 50140040

Upper Peninsula Association of REALTORS®

APN: 52-51-110-008-00