NOT LISTED FOR SALE

500 E Main St Paw Paw, MI 49079

Estimated Value: $182,794 - $235,000

-- Bed
-- Bath
-- Sq Ft
0.25 Acres

Last Sold May 09, 2016

Last sale price $67,000

Est. 214% increase in value since last sale

Current estimated payment $1,387/month

19 Days on Market

About This Home

As of May 2016

Great income potential in the heart of the village of Paw Paw. This charming 3 unit home features two main floor, one bedroom units and a two bedroom, one full bath upper unit. Lower units complete with newer vinyl windows, spacious living and bedroom, including high ceilings. All three units have separate gas/electric meters and private entrances along with ample parking at the rear of the property. Two units have long standing tenants that are paying $420 per month. Property is Bank Owned and is being sold AS IS.

Last Agent to Sell the Property

Missy Dahlinger

Berkshire Hathaway HomeServices MI Listed on: 02/26/2016

Berkshire Hathaway HomeServices MI

Last Buyer's Agent

Trisha Downard

Lakes & Country Real Estate Inc

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1902

Lot Details

  • 0.25 Acre Lot
  • Lot Dimensions are 60x180

Home Design

  • Composition Roof
  • Wood Siding

Basement

  • Michigan Basement

Parking

  • 6 Parking Spaces
  • Unpaved Driveway

Utilities

  • No Cooling
  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Individual Gas Meter
  • Cable TV Available

Community Details

  • 3 Units

Listing and Financial Details

  • REO, home is currently bank or lender owned
  • Tenant pays for gas

Property Details

Home Type

Multi-Family

Year Built

Built in 1902

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1902
  • Location Property Info:Property Sub-Type: 2 to 4 Units
  • OfficeContract Info:List PriceSqFt2: 57.62
  • General Property Info:New Construction2: No
  • General Property Info:Lot Dimensions: 60x180
  • General Property Info:Waterfront3: No
  • General Property Info:Basement: Yes
  • Tax Info:Annual Property Tax: 2333.9
  • General Property Info:Total _pound_ Units: 3
  • General Property Info:Total _pound_ Bldgs: 1.0
  • Roofing:Composition: Yes
  • Heat Type:Forced Air: Yes
  • Utilities Attached:Electric4: Yes
  • Heat Source:Natural Gas3: Yes
  • Util Avail at Street:Electric: Yes
  • Util Avail at Street:Natural Gas2: Yes
  • Utilities Attached:Cable: Yes
  • Utilities Attached:Natural Gas: Yes
  • Sewer:Public: Yes
  • Water:Public2: Yes
  • Util Avail at Street:Cable2: Yes
  • Substructure:Michigan Basement: Yes
  • Sale Conditions:REOBank Owned: Yes
  • Extras:Sep Gas Meter: Yes
  • Driveway:Shared Unpaved: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Basement, Michigan Basement

Exterior Features

  • Construction Materials: Wood Siding
  • List Price: 74900.0
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Composition
  • Waterfront: No
  • Access Feat:Accessibility Features2: No
  • Exterior Material:Wood Siding: Yes

Garage/Parking

  • Total Parking Spaces: 6.0
  • General Property Info:Total Parking Spaces: 6.0

Utilities

  • Cooling: None
  • Cooling: No
  • Heating: Forced Air, Natural Gas
  • Heating: Yes
  • Utilities: Natural Gas Connected, Cable Connected

Lot Info

  • Lot Size Acres: 0.25
  • Lot Size Area: 0.25
  • Lot Size Sq Ft: 10800.0
  • ResoLotSizeUnits: Acres

Rental Info

  • Tenant Pays: Gas

Multi Family

  • Number of Units Total: 3

Tax Info

  • Tax Annual Amount: 2333.9
  • Tax Year: 2015

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 27, 2023
Sold by
Paw Paw Properties Llc
Bought by
Downard Trisha and Downard Steven R
Current Estimated Value
$210,699

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$154,000
Outstanding Balance
$150,613
Interest Rate
7%
Mortgage Type
New Conventional
Estimated Equity
$60,086

Purchase Details

Closed on
Nov 22, 2019
Sold by
Downard Steven R and Downard Trisha D
Bought by
Paw Paw Properties Llc

Purchase Details

Listed on
Feb 26, 2016
Closed on
May 10, 2016
Sold by
Lake Michigan Credit Union
Bought by
Downard Steven R
Seller's Agent
Missy Dahlinger
Berkshire Hathaway HomeServices MI
Buyer's Agent
Trisha Downard
Lakes & Country Real Estate Inc
List Price
$74,900
Sold Price
$67,000
Premium/Discount to List
-$7,900
-10.55%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
12.63%
Original Mortgage
$50,183
Interest Rate
3.71%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 6, 2015
Sold by
Pantoja Hugo F and Pantoja Patricia G
Bought by
Lake Micihigan Credit Union

Purchase Details

Closed on
May 14, 2002
Sold by
Schillaci Timothy and Schillaci Sharon
Bought by
Pantoja Hugo F and Pantoja Patricia G
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Downard Trisha -- None Listed On Document
Paw Paw Properties Llc -- None Available
Downard Steven R $67,000 Title Resource Agency
Lake Micihigan Credit Union $72,952 Attorney
Pantoja Hugo F $75,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Downard Trisha $154,000
Previous Owner Downard Steven R $50,183
Previous Owner Downard Steven R $210,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/09/2016 05/09/16 Sold $67,000 -10.5% --
03/16/2016 03/16/16 Pending -- -- --
02/26/2016 02/26/16 For Sale $74,900 -- --
Source: MichRIC

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 $3,357 $89,300 $0 $0
2024 $1,397 $79,800 $0 $0
2023 $1,374 $70,500 $0 $0
2022 $3,053 $60,600 $0 $0
2021 $2,918 $64,600 $13,100 $51,500
2020 $2,750 $44,500 $13,100 $31,400
2019 $2,606 $43,800 $43,800 $0
2018 $2,818 $38,400 $38,400 $0
2017 $2,803 $41,200 $0 $0
2016 $2,250 $40,800 $0 $0
2015 $1,002 $40,800 $0 $0
2014 $984 $34,856 $0 $0
2013 -- $33,000 $33,000 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MichRIC

MLS Number: 16007759

MichRIC

APN: 80-47-140-002-00