NOT LISTED FOR SALE

4580 Farrell Rd Unit Cottonwood Farm Dexter, MI 48130

Estimated Value: $495,000 - $1,136,000

3 Beds
2 Baths
6,230 Sq Ft
$143/Sq Ft Est. Value

Last Sold August 30, 2012

Last sale price $230,000 $37 Per Sq Ft

Est. 287% increase in value since last sale

Current estimated payment $5,240/month

90 Days on Market

Highlights

  • 5.25 Acre Lot
  • Wooded Lot
  • Forced Air Heating System
  • Creekside Intermediate School Rated A-
  • Brick or Stone Mason
  • Wood Siding

About This Home

As of August 2012

8 Rental Units and 5.24 Acres, The original home was build it 1830 and is now divided into 3units (could be restored into a single family home for owner) 3 units in the 2nd home to west and 2 single family homes. The Craft building to the west of the Main home could be additional Rental space. there is a 4 stall garage/Barn used for storage. Great investment opportunity with Land Contract Terms of 1/3 down 1800 per mo. 6.5% interest Live free and let the tenants make the payments and expences.

Last Listed By

JENNIFER FLACK

C-21 Affiliated - Jackson License #6506046719 Listed on: 09/20/2011

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $3,516

Year Built

  • Built in 1830

Lot Details

  • 5.25 Acre Lot
  • Lot Dimensions are 581x387x220x287102x408x23
  • The property's road front is unimproved
  • Wooded Lot

Parking

  • Gravel Driveway

Home Design

  • Brick or Stone Mason
  • Slab Foundation
  • Wood Siding
  • Aluminum Siding
  • Stone

Basement

  • Partial Basement
  • Crawl Space

Utilities

  • Forced Air Heating System
  • Space Heater
  • Heating System Uses Natural Gas
  • Heating System Uses Oil
  • Heating System Uses Propane
  • Well
  • Septic System

Listing and Financial Details

  • Tenant pays for electric, trash collection
  • The owner pays for water, gas

Community Details

Overview

  • 8 Units

Building Details

  • Operating Expense $34,300
  • Gross Income $53,800
  • Net Operating Income $88,685

Property Details

Property Type

Other

Est. Annual Taxes

$3,516

Year Built

Built in 1830

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1830
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Basement: Crawl Space, Slab, Partial

Exterior Features

  • Construction Materials: Wood Siding, Stone, Aluminum Siding
  • List Price: 299900.0
  • Lot Features: Wooded
  • Road Surface Type: Unimproved
  • Water Body Name: None
  • Waterfront: No

Garage/Parking

  • Attached Garage: No
  • Parking Features: Driveway, Gravel

Utilities

  • Heating: Propane, Oil, Space Heater, Forced Air, Natural Gas
  • Heating: Yes
  • Sewer: Septic System
  • Water Well: Yes

Association/Amenities

  • Association Info:Assoc Fee Payable: Yearly

Lot Info

  • Lot Size Acres: 5.25
  • Lot Size Area: 5.25
  • Lot Dimensions: 581x387x220x287102x408x23
  • Lot Size Sq Ft: 228690.0
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Water, Gas
  • Tenant Pays: Electric, Trash Collection

Multi Family

  • Gross Income: 53800.0
  • Net Operating Income: 88685.0
  • Number of Units Total: 8
  • Operating Expense: 34300.0

Tax Info

  • Tax Annual Amount: 3515.61

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 10, 2019
Sold by
Cottonwood Farm Community Llc
Bought by
Morningstar Ventures Llc
Total Days on Market
90
Current Estimated Value
$889,262

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$650,000
Outstanding Balance
$576,221
Interest Rate
4.1%
Mortgage Type
Commercial
Estimated Equity
$313,041

Purchase Details

Closed on
Jun 17, 2014
Sold by
Cottonwood Farm Llc
Bought by
Cottonwood Farm Community Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$401,284
Interest Rate
4.19%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 17, 2007
Sold by
Elliott Frederick R and Elliott Rebecca S
Bought by
Long Donna and Long Eric

Purchase Details

Closed on
Dec 5, 2006
Sold by
Parmer Betty M and Denton Paula M
Bought by
Webster Township

Purchase Details

Closed on
Nov 22, 2005
Sold by
Parmer Robert and Parmer Betty M
Bought by
Cottonwood Farm Llc

Purchase Details

Closed on
Dec 1, 2004
Sold by
Parmer Robert and Parmer Betty M
Bought by
Mast Michael E

Purchase Details

Closed on
Sep 27, 1995
Sold by
May A Mast Trust
Bought by
Alexander Thomas and Alexander Holly

Range of Values:

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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
Morningstar Ventures Llc -- Liberty Title
Cottonwood Farm Community Llc $230,000 None Available
Long Donna $145,000 Liberty Title
Webster Township $47,400 None Available
Cottonwood Farm Llc -- --
Mast Michael E -- --
Alexander Thomas -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Morningstar Ventures Llc $650,000
Previous Owner Cottonwood Farm Community Llc $401,284
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/30/2012 08/30/12 Sold $230,000 -- $37 / Sq Ft
12/19/2011 12/19/11 Pending -- -- --
Source: Southwestern Michigan 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
2024 $3,429 $369,700 $0 $0
2023 $3,266 $331,200 $0 $0
2022 $16,155 $305,600 $0 $0
2021 $15,675 $294,800 $0 $0
2020 $15,475 $284,000 $0 $0
2019 $10,206 $240,700 $240,700 $0
2018 $9,990 $235,200 $0 $0
2017 $9,646 $234,600 $0 $0
2016 $1,870 $176,009 $0 $0
2015 -- $175,483 $0 $0
2014 -- $185,100 $0 $0
2013 -- $185,100 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2012

    JENNIFER FLACK

    C-21 Affiliated - Jackson

    (517) 945-8208

    70 Total Sales

    JENNIFER FLACK
    Section Image

  • N

    Buyer's Agent in 2012

    NON-MBR 'SOLD' NON-MBR 'SOLD'

    NON-MEMBER REALTOR 'SOLD'

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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 21035465

Southwestern Michigan Association of REALTORS®

APN: 03-27-100-032

Michigan Washtenaw County Dexter 48130

4580 Farrell Rd Unit Cottonwood Farm, Dexter, MI

Homes for Sale in Dexter, MI

This home is located at 4580 Farrell Rd Unit Cottonwood Farm, Dexter, MI 48130 since 20 September 2011 and is currently estimated at $889,262, approximately $142 per square foot. This property was built in 1830. 4580 Farrell Rd Unit Cottonwood Farm is a home located in Washtenaw County with nearby schools including Bates Elementary School, Creekside Intermediate School, and Anchor Elementary School.

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.

Southwestern Michigan Association of REALTORS® Information is deemed reliable but not guaranteed.
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