V
Seller's Agent in 2024
Victoria Knight
IREP ERA Powered
Estimated Value: $239,000 - $251,000
8
Beds
4
Baths
--
Sq Ft
9,583
Sq Ft Lot
Highlights
- 1 Fireplace
- Window Unit Cooling System
- 1 Car Garage
- Corner Lot: Yes
- Forced Air Heating System
- High Speed Internet
About This Home
As of May 2024Exceptional Investment Opportunity in Downtown Niles, MI! This multi-family gem, located in the vibrant heart of downtown, offers a unique blend of character and financial promise. With all four units under solid 1-year leases, investors can enjoy immediate and reliable returns. The property generates an impressive gross profit of $3,400 per month, showcasing its lucrative potential. Recently upgraded with a new roof in 2023, this investment promises low maintenance costs and long-term value. Each unit has their own gas meter, furnace and water heater. Seize the chance to be part of the thriving real estate scene in Niles—secure your stake in this profitable, well-maintained 4-unit property today! *Each unit has 1 bedroom & 1 bathroom*
Last Agent to Sell the Property
Victoria Knight
IREP ERA Powered License #6501413547 Listed on: 02/04/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,023
Year Built
- Built in 1910
Lot Details
- 9,583 Sq Ft Lot
- Lot Dimensions are 72x132
- Corner Lot: Yes
- Level Lot
Parking
- 1 Car Garage
Home Design
- Composition Roof
- Aluminum Siding
Interior Spaces
- 1 Fireplace
Basement
- Michigan Basement
- Crawl Space
Utilities
- Window Unit Cooling System
- Forced Air Heating System
- Heating System Uses Natural Gas
- Window Unit Heating System
- Shared Gas Meter
- Separate Water Meter
- Shared Water Meter
- High Speed Internet
- Phone Available
- Cable TV Available
Listing and Financial Details
- Tenant pays for electric, gas
- The owner pays for trash collection, water, sewer
Community Details
Overview
- 4 Units
Building Details
- Insurance Expense $1,500
- Maintenance Expense $500
- Gross Income $41,304
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Feb 4, 2024
Closed on
May 3, 2024
Sold by
Canales Jovanny Garcia
Bought by
Lynch Micah D
Seller's Agent
Victoria Knight
IREP ERA Powered
Buyer's Agent
Micah Lynch
Keller Williams Kalamazoo Market Center
List Price
$239,000
Sold Price
$237,000
Premium/Discount to List
-$2,000
-0.84%
Total Days on Market
35
Views
46
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$6,588
Avg. Annual Appreciation
2.48%
Original Mortgage
$225,150
Outstanding Balance
$222,563
Interest Rate
6.79%
Mortgage Type
New Conventional
Estimated Equity
$21,025
Purchase Details
Listed on
May 17, 2022
Closed on
Jul 19, 2022
Sold by
Paul Slankamenac
Bought by
Canales Jovanny Garcia
Seller's Agent
Maria Panama
Coldwell Banker Anchor R.E.
Buyer's Agent
Victoria Knight
Century 21 Affiliated
List Price
$189,900
Sold Price
$197,000
Premium/Discount to List
$7,100
3.74%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.57%
Original Mortgage
$193,431
Interest Rate
5.09%
Mortgage Type
FHA
Purchase Details
Closed on
Aug 27, 2012
Sold by
Slankamenac Jovan
Bought by
Slankamenac Paul
Purchase Details
Closed on
Dec 7, 2011
Sold by
Slankamenac Miomir
Bought by
Slankamenac Jovan
Purchase Details
Closed on
Jun 25, 2009
Sold by
Holtz Leanne
Bought by
Bank Of America National Association
Purchase Details
Closed on
May 19, 2004
Sold by
Haycock Randy and Haycock Sue
Bought by
Haycock Randy Arthur and Haycock Sue Ellen
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$96,050
Interest Rate
8.55%
Mortgage Type
New Conventional
Purchase Details
Closed on
Mar 29, 2002
Purchase Details
Closed on
Apr 30, 1990
Purchase Details
Closed on
Apr 23, 1986
Purchase Details
Closed on
Jun 1, 1981
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Lynch Micah D | $237,000 | Chicago Title Of Michigan | |
| Canales Jovanny Garcia | $197,000 | Chicago Title | |
| Slankamenac Paul | -- | None Available | |
| Slankamenac Jovan | -- | None Available | |
| Bank Of America National Association | $70,000 | None Available | |
| Haycock Randy Arthur | -- | -- | |
| -- | $82,000 | -- | |
| -- | $47,400 | -- | |
| -- | $47,500 | -- | |
| -- | $47,500 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Lynch Micah D | $225,150 | |
| Previous Owner | Canales Jovanny Garcia | $193,431 | |
| Previous Owner | Haycock Randy Arthur | $96,050 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/03/2024 05/03/24 | Sold | $237,000 | -0.8% | -- |
| 02/04/2024 02/04/24 | For Sale | $239,000 | +21.3% | -- |
| 07/01/2022 07/01/22 | Sold | $197,000 | +3.7% | -- |
| 12/13/2021 12/13/21 | For Sale | $189,900 | -- | -- |
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 | $3,252 | $137,900 | $0 | $0 |
| 2024 | $2,495 | $114,400 | $0 | $0 |
| 2023 | $2,392 | $79,800 | $0 | $0 |
| 2022 | $1,527 | $58,300 | $0 | $0 |
| 2021 | $2,821 | $54,500 | $3,400 | $51,100 |
| 2020 | $2,788 | $51,000 | $0 | $0 |
| 2019 | $2,749 | $46,600 | $2,200 | $44,400 |
| 2018 | $2,684 | $46,600 | $0 | $0 |
| 2017 | $2,696 | $56,200 | $0 | $0 |
| 2016 | $2,650 | $51,300 | $0 | $0 |
| 2015 | $2,643 | $49,400 | $0 | $0 |
| 2014 | $1,364 | $45,700 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
-
Micah Lynch
M
Buyer's Agent in 2024
Micah Lynch
Keller Williams Kalamazoo Market Center
(419) 494-4008
1 in this area
4 Total Sales
-
Maria Panama
M
Seller's Agent in 2022
Maria Panama
Coldwell Banker Anchor R.E.
(269) 683-4507
28 in this area
69 Total Sales
Map
Source: Southwestern Michigan Association of REALTORS®
MLS Number: 24005920
APN: 11-72-3110-0026-00-0
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