NOT LISTED FOR SALE

500 N Michigan St Elkhart, IN 46514

Riverside Neighborhood

Estimated Value: $113,000 - $153,314

4 Beds
2 Baths
1,562 Sq Ft
$89/Sq Ft Est. Value

Last Sold October 19, 2020

Last sale price $80,000 $51 Per Sq Ft

Est. 74% increase in value since last sale

Current estimated payment $924/month

14 Days on Market

Highlights

  • Forced Air Heating System
  • Carpet
  • 2-minute walk to Weston Park
  • Level Lot

About This Home

As of October 2020

Great investment opportunity! Lots of updates including electrical, furnace and cosmetics. Both units have tenants in contracts. Both units are 2 bed and 1 bath with each having separate meters. Tenants do lawn maintenance. Copies of lease agreements available upon request.

Last Agent to Sell the Property

Wanda Buck

Indy Dwell Real Estate Listed on: 09/14/2020

Last Buyer's Agent

Wanda Buck

Indy Dwell Real Estate Listed on: 09/14/2020

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,623

Year Built

  • Built in 1900

Lot Details

  • 3,049 Sq Ft Lot
  • Lot Dimensions are 44 x 66
  • Level Lot

Home Design

  • Duplex

Interior Spaces

  • 2-Story Property
  • Carpet

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Partially Finished Basement

  • Michigan Basement
  • Laundry in Basement

Utilities

  • Window Unit Cooling System
  • Forced Air Heating System
  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for electric, fuel
  • The owner pays for building insurance, electric, fuel
  • Assessor Parcel Number 20-06-06-290-000.600-012

Community Details

Overview

  • 2 Units

Pet Policy

  • Pet Restriction

Building Details

  • Electric Expense $924
  • Fuel Expense $708
  • Insurance Expense $1,200
  • Water Sewer Expense $700

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,623

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Class: INVESTMENT
  • Property Sub Type: Duplex
  • Year Built: 1900
  • Age: 120
  • Style: One and Half Story
  • Bedrooms: 4
  • Number Above Grade Bedrooms: 4
  • Total Bathrooms: 2
  • Total Full Bathrooms: 2
  • Legal Description: NE COR CEDAR & MICH ST 44FT SEC 6
  • Parcel Number ID: 20-06-06-290-000.600-012
  • Platted: Yes
  • Amenities: Basement
  • Sp Lp Percent: 88.99
  • Monthly Gross Income: 1452
  • Special Features: None

Interior Features

  • Total Sq Ft: 2118
  • Total Finished Sq Ft: 1562
  • Above Grade Finished Sq Ft: 741
  • Below Grade Finished Sq Ft: 821
  • Below Grade Sq Ft: 556
  • Price Per Sq Ft: 107.96
  • Basement: Yes
  • Basement Foundation: Partial Basement, Michigan Basement
  • Flooring: Carpet
  • Total Below Grade Sq Ft: 1377
  • Number Of Microwaves: 2
  • Number Of Ranges Ovens: 2
  • Number Ttl Rooms Below Grade: 9

Exterior Features

  • Exterior: Aluminum
  • Stories: 2

Utilities

  • Cooling: Window
  • Heating Fuel: Gas, Forced Air
  • Sewer: City
  • Water Utilities: City
  • Annual Electric: 924
  • Annual Fuel Expense: 708
  • Annual Insurance Expense: 1200
  • Annual Water Sewer Expense: 700
  • Number Of W D Hookups: 1

Condo/Co-op/Association

  • Pet Restrictions: Yes

Schools

  • School District: Elkhart Community Schools
  • Elementary School: Mary Daly
  • Middle School: West Side
  • High School: Elkhart Memorial

Lot Info

  • Lot Description: Level
  • Lot Dimensions: 44 X 66
  • Estimated Lot Sq Ft: 3049
  • Estimated Lot Size Acres: 0.07

Rental Info

  • Lease Term: 1 Year
  • Owner Pays: Building Insurance, Electric, Fuel
  • Tenant Pays: Electric, Fuel

Multi Family

  • Gross Monthly Rent: 1452
  • Number Of Refrigerators: 2
  • Number Of Units: 2
  • Num Of2 Bedrooms: 2
  • Num Of Efficiencies: 2
  • Num Of Units Rented: 2

Tax Info

  • Annual Property Tax: 1623.46

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 14, 2020
Closed on
Oct 20, 2020
Sold by
Studabaker and Cheryl
Bought by
Calderon Jose Alfredo and Calderon Elisabel
Seller's Agent
Wanda Buck
Indy Dwell Real Estate
Buyer's Agent
Wanda Buck
Indy Dwell Real Estate
List Price
$89,900
Sold Price
$80,000
Premium/Discount to List
-$9,900
-11.01%
Current Estimated Value
$139,079

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$59,079
Avg. Annual Appreciation
11.85%

Purchase Details

Listed on
Sep 14, 2020
Closed on
Oct 19, 2020
Sold by
Studabaker Kevin and Studabaker Cheryl
Bought by
Calderon Jose Alfredo and Calderon Elisabel
Seller's Agent
Wanda Buck
Indy Dwell Real Estate
Buyer's Agent
Wanda Buck
Indy Dwell Real Estate
List Price
$89,900
Sold Price
$80,000
Premium/Discount to List
-$9,900
-11.01%

Purchase Details

Listed on
Aug 15, 2019
Closed on
Mar 24, 2020
Sold by
Mannia Cynthia J
Bought by
Studebaker Kevin and Studebaker Cheryl
Seller's Agent
Kyleen Miller
RE/MAX Results
Buyer's Agent
Wanda Buck
Indy Dwell Real Estate
List Price
$79,900
Sold Price
$69,000
Premium/Discount to List
-$10,900
-13.64%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
29.63%
Original Mortgage
$51,750
Interest Rate
3.4%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 14, 2004
Sold by
Kruse David Lee and Kruse Joyce Marlene
Bought by
Mannia Cynthia J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$76,400
Interest Rate
5.93%
Mortgage Type
Unknown

Purchase Details

Closed on
Dec 11, 2002
Sold by
Kruse David Lee and Kruse David L
Bought by
Kruse David Lee and Kruse Joyce Marlene

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$71,910
Interest Rate
6.38%

Purchase Details

Closed on
Nov 22, 2002
Sold by
Fergison Rolla R and Fergison Janet A
Bought by
Kruse David L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$71,910
Interest Rate
6.38%
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
Calderon Jose Alfredo -- Near North Title Group
Calderon Jose Alfredo -- Near North Title Group
Studebaker Kevin -- Near North Title Group
Mannia Cynthia J -- Century Title Services
Kruse David Lee -- Stewart Title Of Elkhart Of
Kruse David L -- Stewart Title Of Elkhart Of
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Studebaker Kevin $51,750
Previous Owner Mannia Cynthia J $76,400
Previous Owner Kruse David L $71,910
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/19/2020 10/19/20 Sold $80,000 -11.0% $51 / Sq Ft
09/28/2020 09/28/20 Pending -- -- --
09/14/2020 09/14/20 For Sale $89,900 +30.3% $58 / Sq Ft
03/24/2020 03/24/20 Sold $69,000 -10.3% $44 / Sq Ft
02/21/2020 02/21/20 Pending -- -- --
02/20/2020 02/20/20 Price Changed $76,900 -3.8% $49 / Sq Ft
12/05/2019 12/05/19 For Sale $79,900 0.0% $51 / Sq Ft
11/17/2019 11/17/19 Pending -- -- --
10/07/2019 10/07/19 Price Changed $79,900 -5.9% $51 / Sq Ft
08/15/2019 08/15/19 For Sale $84,900 -- $54 / Sq Ft
Source: Indiana Regional MLS

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 $2,234 $116,700 $11,700 $105,000
2022 $2,234 $29,000 $11,700 $17,300
2021 $1,795 $87,800 $11,700 $76,100
2020 $1,781 $81,800 $11,700 $70,100
2019 $1,623 $74,800 $11,700 $63,100
2018 $1,563 $71,500 $11,700 $59,800
2017 $1,450 $66,100 $11,700 $54,400
2016 $1,411 $64,500 $11,700 $52,800
2014 $1,332 $62,500 $11,700 $50,800
2013 $1,292 $64,600 $11,700 $52,900
Source: Public Records

Agents Affiliated with this Home

  • Wanda Buck

    Seller's Agent in 2020

    Wanda Buck

    Indy Dwell Real Estate

    (574) 304-2426

    1 in this area

    62 Total Sales

    Wanda Buck
    Section Image
  • Kyleen Miller

    Seller's Agent in 2020

    Kyleen Miller

    RE/MAX

    (574) 238-1262

    50 Total Sales

    Kyleen Miller
    Section Image
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Map

Source: Indiana Regional MLS

MLS Number: 202036933

Indiana Regional MLS

APN: 20-06-06-290-006.000-012

Indiana Elkhart County Elkhart 46514 Riverside

500 N Michigan St, Elkhart, IN

This home is located at 500 N Michigan St, Elkhart, IN 46514 since 14 September 2020 and is currently estimated at $139,079, approximately $89 per square foot. This property was built in 1900. 500 N Michigan St is a home located in Elkhart County with nearby schools including Beardsley Elementary School, North Side Middle School, and Elkhart High 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.

Indiana Regional MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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