NOT LISTED FOR SALE

425 N Main St Unit 427431 Lapeer, MI 48446

Estimated Value: $269,000 - $353,000

5 Beds
5 Baths
3,852 Sq Ft
$77/Sq Ft Est. Value

Last Sold November 02, 2021

Last sale price $220,000 $57 Per Sq Ft

Est. 35% increase in value since last sale

Current estimated payment $2,023/month

45 Days on Market

Highlights

  • 0.41 Acre Lot
  • Covered Patio or Porch
  • 3-minute walk to Veterans Memorial Park Lapeer Michigan
  • Colonial Architecture
  • Forced Air Heating System

About This Home

As of November 2021

EXCEPTIONAL 4 UNIT MULTI FAMILY. GREAT LOCATION AND EXCELLENT TENANTS. VERY WELL MAINTAINED. FULLY LEASED. THIS PROPERTY WILL NOT LAST.

CONVENIENTLY LOCATED ON MAIN STREET IN LAPEER.

Last Agent to Sell the Property

Ernie Gavrilides

Real Estate One License #6501348603 Listed on: 09/04/2021

Real Estate One

Last Buyer's Agent

Ernie Gavrilides

Real Estate One License #6501348603 Listed on: 09/04/2021

Real Estate One

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1900 | Remodeled in 2010

Lot Details

  • 0.41 Acre Lot
  • Lot Dimensions are 80.00x100.00

Parking

  • Assigned Parking

Home Design

  • Quadruplex
  • Colonial Architecture
  • Block Foundation
  • Asphalt Roof
  • Vinyl Construction Material

Interior Spaces

  • 5 Full Bathrooms
  • 3,852 Sq Ft Home
  • 2-Story Property
  • Unfinished Basement

Outdoor Features

  • Covered Patio or Porch

Utilities

  • Window Unit Cooling System
  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Natural Gas Water Heater
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number L206440004000

Community Details

Overview

  • 4 Units
  • City Of Lapeer Original Plat Subdivision

Pet Policy

  • Call for details about the types of pets allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,033

Year Built

Built in 1900 | Remodeled in 2010

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Colonial, Quadruplex
  • Architecture Level: 2 Story
  • Year Built: 1900
  • State Equalized Value: 110900.0000
  • Year Renovated: 2010
  • Pets Allowed: Call
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Interior Amenities: Cable Available
  • Total Bathrooms: 5.00
  • Full Bathrooms: 5
  • Basement: Yes
  • Basement Type: Unfinished
  • Sq Ft Combined: 3852
  • Total Sq Ft: 3852
  • Sq Ft Total Bsmt: 1500

Exterior Features

  • Roof Material: Asphalt
  • Foundation Details: Basement
  • Construction Materials: Vinyl
  • Foundation Materials: Block
  • Frontage Feet: 80
  • Porch Type: Porch - Covered, Porch
  • Road Frontage Type: Paved

Garage/Parking

  • MF Parking: Assigned Spaces

Utilities

  • Heating Fuel: Natural Gas
  • Cooling: Window Unit(s)
  • Heating: Forced Air
  • Sewer: Public Sewer (Sewer-Sanitary)
  • Water Heater Fuel: Natural Gas
  • Water Source: Public (Municipal)

Schools

  • School District: Lapeer

Lot Info

  • Lot Size Area: 0.41
  • Lot Dimensions: 80.00X100.00
  • Parcel Number: L206440004000
  • Zoning: Multi-Family

Rental Info

  • Rent Includes: Water/Sewer, Trash Collection (Garbage Pickup), Water, Yard Maintenance
  • Legal Rental Certified: Yes
  • Monthly Rental Income: 3075

Tax Info

  • Tax Amount Summer: 1298.0000
  • Tax Amount Winter: 1735.0000
  • Total Tax: 3033.0000
  • Taxable Value: 66016.0000

Multi Family

  • Gross Scheduled Income: 36900.00
  • Number Of Units Total: 4
  • Unit Count: 3
  • Number of Four Bedroom Units: 1
  • Number of One Bedroom Units: 1
  • Number of Two Bedroom Units: 2
  • Number Of Units Leased: 4

MLS Schools

  • School District: Lapeer

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 19, 2025
Sold by
Nbrne R/E Llc
Bought by
Nbrne R/E Llc
Current Estimated Value
$296,969

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$184,500
Outstanding Balance
$183,408
Interest Rate
6.93%
Mortgage Type
New Conventional
Estimated Equity
$113,561

Purchase Details

Listed on
Sep 4, 2021
Closed on
Nov 2, 2021
Sold by
Spencer Carol and Spencer Carol Sue
Bought by
Nbrne Re Llc
Seller's Agent
Ernie Gavrilides
Real Estate One
Buyer's Agent
Ernie Gavrilides
Real Estate One
List Price
$229,000
Sold Price
$220,000
Premium/Discount to List
-$9,000
-3.93%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.95%

Purchase Details

Closed on
Jun 3, 2021
Sold by
Cray Embrey David and Embrey David
Bought by
Spencer Carol Sue

Purchase Details

Closed on
Nov 11, 2009
Sold by
Bank Of New York Mellon
Bought by
Embrey David and Spencer Carol

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$34,650
Interest Rate
4.9%
Mortgage Type
Unknown

Purchase Details

Closed on
Feb 18, 2009
Sold by
Kirby Kerry
Bought by
Jpmorgan Chase Bank Na

Purchase Details

Closed on
Nov 18, 2008
Sold by
Macomb Community Bank
Bought by
Lapeer Property Holdings Llc

Purchase Details

Closed on
Jun 23, 2005
Sold by
Papadelis Jeffrey J and Papadelis Margaret I
Bought by
Tarantino Julie M

Purchase Details

Closed on
Mar 23, 1998
Sold by
Ambrose Paul and Ambrose Barbara
Bought by
Papadelis Jeffery and Papadelis Margaret

Purchase Details

Closed on
Jul 18, 1995
Sold by
Gonzales Bayani A and Gonzales Remedios
Bought by
Ambrose Paul

Purchase Details

Closed on
Oct 2, 1989

Purchase Details

Closed on
Apr 13, 1989
Bought by
Papadellis
Source: Public Records

Range of Values:

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Average Value
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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
Nbrne R/E Llc -- None Listed On Document
Nbrne R/E Llc -- None Listed On Document
Nbrne Re Llc $220,000 Ata National Title Group Llc
Spencer Carol Sue -- None Available
Embrey David $49,501 --
Jpmorgan Chase Bank Na $110,000 --
Lapeer Property Holdings Llc -- --
Tarantino Julie M $225,000 --
Papadelis Jeffery $100,000 --
Ambrose Paul $98,000 --
-- $132,000 --
Papadellis -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Nbrne R/E Llc $184,500
Closed Nbrne R/E Llc $184,500
Previous Owner Embrey David $34,650
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/02/2021 11/02/21 Sold $220,000 -3.9% $57 / Sq Ft
10/20/2021 10/20/21 Pending -- -- --
09/23/2021 09/23/21 For Sale $229,000 0.0% $59 / Sq Ft
09/20/2021 09/20/21 Pending -- -- --
09/04/2021 09/04/21 For Sale $229,000 -- $59 / Sq Ft
Source: Realcomp

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 $5,298 $125,500 $0 $0
2024 $2,180 $111,300 $0 $0
2023 $2,241 $114,200 $0 $0
2022 $5,979 $125,800 $0 $0
2021 $3,054 $110,900 $0 $0
2020 $3,018 $96,800 $0 $0
2019 $3,013 $88,900 $0 $0
2018 $2,942 $89,800 $44,700 $45,100
2017 $2,884 $79,800 $0 $0
2016 $1,197 $78,200 $44,700 $33,500
2015 -- $0 $0 $0
2014 -- $64,000 $44,700 $19,300
2013 -- $58,500 $44,700 $13,800
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Realcomp

MLS Number: 2210074031

Realcomp

APN: L20-64-400-040-00