Seller's Agent in 2020
Jamie Buck
Coldwell Banker Professionals -Okemos
(517) 214-7305
1 in this area
63 Total Sales
427 W Madison St Unit 1 Lansing, MI 48906
Old Forest NeighborhoodEstimated Value: $132,000 - $159,000
--
Bed
--
Bath
1,750
Sq Ft
$82/Sq Ft
Est. Value
Highlights
- Forced Air Heating System
- Wood Siding
- 5-minute walk to Ferris Park
- High Speed Internet
About This Home
As of September 2020Fantastic two-story duplex with great rental history and historic charm just blocks away from downtown. The first-floor unit has hard wood floors throughout with generously sized living room, dining room and bedroom with large walk in closet. A galley style kitchen and additional floor to ceiling built in cabinetry and a full bath. The first floor also has access to the basement with laundry hook ups. The upstairs units huge living area has a half circle alcove window and a closet, large bedroom with good sized closet a full bath and dining area. Property has great potential to be turned back into a single-family home with four bedrooms and two full baths.
Last Agent to Sell the Property
Coldwell Banker Professionals -Okemos License #6501377232 Listed on: 08/19/2020
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1910
Lot Details
- 3,485 Sq Ft Lot
- Lot Dimensions are 41.25x85
Home Design
- Duplex
- Shingle Roof
- Wood Siding
Interior Spaces
- 1,750 Sq Ft Home
- 2-Story Property
- Basement Fills Entire Space Under The House
- Fire and Smoke Detector
Parking
- 4 Parking Spaces
- No Garage
Utilities
- Forced Air Heating System
- Heating System Uses Natural Gas
- Gas Water Heater
- High Speed Internet
Listing and Financial Details
- Total Actual Rent $15,840
Community Details
Overview
- 2 Units
Building Details
- Insurance Expense $806
- Water Sewer Expense $1,864
- New Taxes Expense $2,825
- Net Operating Income $10,345
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 19, 2020
Closed on
Sep 30, 2020
Sold by
Busch Development Llc
Bought by
Prout Kathryn
Seller's Agent
Jamie Buck
Coldwell Banker Professionals -Okemos
Buyer's Agent
Amy Williams
Keller Williams Realty Lansing
List Price
$89,900
Sold Price
$87,400
Premium/Discount to List
-$2,500
-2.78%
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
$55,916
Avg. Annual Appreciation
10.00%
Original Mortgage
$65,550
Outstanding Balance
$58,303
Interest Rate
2.9%
Mortgage Type
New Conventional
Estimated Equity
$85,013
Purchase Details
Closed on
Dec 8, 2004
Sold by
Busch Claire A and Busch Lisa K
Bought by
Busch Development Llc
Purchase Details
Closed on
Nov 17, 2000
Sold by
Jernigan Kenneth and Jernigan Jody E
Bought by
Busch Claire and Busch Lisa
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$64,800
Interest Rate
7.87%
Purchase Details
Closed on
Jan 30, 1997
Sold by
Wilson Frederick E and Wilson Jean M
Bought by
Jernigan Kenneth and Jernigan Jody
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 | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Prout Kathryn | $87,400 | Tri County Title | |
| Busch Development Llc | -- | -- | |
| Busch Claire | $72,000 | -- | |
| Jernigan Kenneth | $49,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Prout Kathryn | $65,550 | |
| Previous Owner | Busch Claire | $64,800 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/30/2020 09/30/20 | Sold | $87,400 | -2.8% | $50 / Sq Ft |
| 08/21/2020 08/21/20 | Pending | -- | -- | -- |
| 08/19/2020 08/19/20 | For Sale | $89,900 | -- | $51 / Sq Ft |
Source: Greater Lansing 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 | $4,182 | $72,400 | $3,000 | $69,400 |
| 2024 | $34 | $65,600 | $3,000 | $62,600 |
| 2023 | $3,938 | $52,800 | $3,000 | $49,800 |
| 2022 | $3,600 | $47,200 | $3,300 | $43,900 |
| 2021 | $3,517 | $42,700 | $5,200 | $37,500 |
| 2020 | $2,911 | $38,500 | $5,200 | $33,300 |
| 2019 | $2,807 | $36,900 | $5,200 | $31,700 |
| 2018 | $2,666 | $33,800 | $5,200 | $28,600 |
| 2017 | $2,564 | $33,800 | $5,200 | $28,600 |
| 2016 | $2,634 | $33,200 | $5,200 | $28,000 |
| 2015 | $2,634 | $32,100 | $10,362 | $21,738 |
| 2014 | $2,634 | $31,900 | $15,750 | $16,150 |
Source: Public Records
Agents Affiliated with this Home
-
Jamie Buck
-
Amy Williams
Buyer's Agent in 2020
Amy Williams
Keller Williams Realty Lansing
(517) 282-1567
1 in this area
146 Total Sales
Map
Source: Greater Lansing Association of Realtors®
MLS Number: 248807
APN: 01-01-09-364-001
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Copyright © 2025 Greater Lansing Association of REALTORS®
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