NOT LISTED FOR SALE

4580 Farrell Rd Dexter, MI 48130

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

14 Beds
8 Baths
7,885 Sq Ft
$113/Sq Ft Est. Value

Last Sold May 10, 2019

Last sale price $625,000 $79 Per Sq Ft

Est. 42% increase in value since last sale

Current estimated payment $5,240/month

212 Days on Market

Highlights

  • 5.25 Acre Lot
  • Covered patio or porch
  • Water Softener is Owned
  • Creekside Intermediate School Rated A-
  • Dehumidifier
  • Forced Air Heating System

About This Home

As of May 2019

Rare Historic Country rental community on 5.25 acres 5 minutes from Dexter. 7 units and common "Craft House" building. Borders Historic Webster Village. One efficiency, a duplex with two 2 bedroom apartments, a 3 bedroom house, a 2 bedroom house, a two bedroom historic apartment, and a 5 bedroom historic house. All units have been updated within the last 6 years. Garden space available with 2 water hydrants. 3 car detached garage with storage room. 100% occupancy. All units currently rented. Possible uses: unique historic income property, family compound, owner occupied community***SELLER DOES NOT AUTHORIZE THE LISTING BROKER AND ANY COOPERATING BROKERS TO PROVIDE ACCESS TO THE ABOVE CAPTIONED PROPERTY TO PROSPECTIVE BUYER(S) WHO ARE NOT ACCOMPANIED BY AND IN THE PHYSICAL PRESENCE OF A MICHIGAN REAL ESTATE LICENSEE.***.

Last Listed By

Martha Leabu

Griffith Realty License #6501227788 Listed on: 09/18/2018

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1850 | Remodeled in 2015

Lot Details

  • 5.25 Acre Lot
  • Lot Dimensions are 581x675x562x694

Parking

  • Unassigned Parking

Home Design

  • Duplex
  • Block Foundation
  • Stone Foundation
  • Slab Foundation
  • Asphalt Roof
  • Metal Roof
  • Masonry
  • Vinyl Construction Material

Interior Spaces

  • 8 Full Bathrooms
  • 7,885 Sq Ft Home
  • Ceiling Fan
  • Unfinished Basement
  • Basement Fills Entire Space Under The House

Outdoor Features

  • Covered patio or porch

Utilities

  • Dehumidifier
  • Forced Air Heating System
  • Baseboard Heating
  • Hot Water Heating System
  • Heating System Uses Natural Gas
  • Electric Water Heater
  • Water Softener is Owned
  • Cable TV Available

Community Details

  • 7 Units
  • Laundry Facilities

Listing and Financial Details

  • Assessor Parcel Number C00327100032

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,679

Year Built

Built in 1850 | Remodeled in 2015

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Duplex
  • Year Built: 1850
  • Year Renovated: 2015
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Cable Available, De-Humidifier, Laundry Facility, Water Softener (owned)
  • Total Bathrooms: 8.00
  • Full Bathrooms: 8
  • Basement: Yes
  • Basement Type: Common, Unfinished
  • Sq Ft Combined: 7885
  • Total Sq Ft: 7885
  • Sq Ft Total Bsmt: 2500

Exterior Features

  • Roof Material: Asphalt, Metal
  • Foundation Details: Basement, Slab
  • Construction Materials: Block/Concrete/Masonry, Vinyl, Wood
  • Exclusions: Yes
  • Foundation Materials: Block, Stone
  • Frontage Feet: 582
  • Porch Type: Porch - Covered
  • Road Frontage Type: Gravel

Garage/Parking

  • MF Parking: Unassigned/General

Utilities

  • Heating Fuel: Natural Gas
  • Cooling: Ceiling Fan(s)
  • Heating: Baseboard, Forced Air, Hot Water
  • Sewer: Septic Tank (Existing)
  • Water Heater Fuel: Electric
  • Water Source: Well (Existing)
  • Laundry Facilities: No

Schools

  • School District: Dexter

Lot Info

  • List Price per Acre: 138095.2381
  • Lot Size Area: 5.25
  • Lot Dimensions: 581x675x562x694
  • Parcel Number: C00327100032
  • Zone Conform: Yes
  • Zoning: Agricultural

Rental Info

  • Rent Includes: Snow Removal, Yard Maintenance
  • Monthly Rental Income: 6146

Tax Info

  • Tax Amount Summer: 1914.0000
  • Tax Amount Winter: 7765.0000
  • Total Tax: 9679.0000

Multi Family

  • Gross Scheduled Income: 73752.00
  • Number Of Units Total: 7
  • Unit Count: 4
  • Number of Efficiency Units: 1
  • Number of Three Bedroom Units: 2
  • Number of Two Bedroom Units: 4
  • Number Of Units Leased: 7

MLS Schools

  • School District: Dexter

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 18, 2018
Closed on
May 10, 2019
Sold by
Cottonwood Farm Community Llc
Bought by
Morningstar Ventures Llc
Seller's Agent
Martha Leabu
Griffith Realty
Buyer's Agent
Martha Leabu
Griffith Realty
List Price
$725,000
Sold Price
$625,000
Premium/Discount to List
-$100,000
-13.79%
Total Days on Market
212
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.
Estimated Appreciation
$264,262
Avg. Annual Appreciation
6.02%
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
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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
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
05/10/2019 05/10/19 Sold $625,000 -13.8% $79 / Sq Ft
04/18/2019 04/18/19 Pending -- -- --
09/18/2018 09/18/18 For Sale $725,000 -- $92 / 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
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

  • M

    Seller's Agent in 2019

    Martha Leabu

    Griffith Realty

See All Agents

Map

Source: Realcomp

MLS Number: 218091372

Realcomp

APN: 03-27-100-032

Michigan Washtenaw County Dexter 48130

4580 Farrell Rd, Dexter, MI

Homes for Sale in Dexter, MI

This home is located at 4580 Farrell Rd, Dexter, MI 48130 since 18 September 2018 and is currently estimated at $889,262, approximately $112 per square foot. This property was built in 1850. 4580 Farrell Rd is a home located in Washtenaw County with nearby schools including Bates Elementary School, Creekside Intermediate School, and Anchor Elementary School.

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IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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