NOT LISTED FOR SALE

500 N Walnut St Lansing, MI 48933

Downtown Lansing Neighborhood

Estimated Value: $136,005 - $159,000

-- Bed
-- Bath
1,844 Sq Ft
$80/Sq Ft Est. Value

Last Sold September 03, 2020

Last sale price $88,500 $48 Per Sq Ft

Est. 66% increase in value since last sale

Current estimated payment $1,155/month

94 Days on Market

Highlights

  • Park or Greenbelt View
  • Covered Patio or Porch
  • 2-minute walk to Ferris Park
  • Corner Lot
  • Forced Air Heating System

About This Home

As of September 2020

Welcome to 500 N. Walnut Street. This 2 unit income generator is smack dab in downtown Lansing. Walk to the capitol! Close to highway. Home could be converted back to a single family. Seller pays gas/heat and water/sewer – tenants pay their own electric/lights. Upper unit is currently rented. Washer/dryer in basement with unit one access only. 2nd level unit has walk up attic for storage and much more! Currently licensed for rental thru City of Lansing. Rented noted for unit 1 was for last tenant. Level and room measurements estimated per board requirement.

Last Agent to Sell the Property

Carin Whybrew

Coldwell Banker Professionals -Okemos License #6506041103 Listed on: 04/27/2020

Coldwell Banker Professionals -Okemos

Co-Listed By

Wesley Whybrew

Coldwell Banker Professionals -Okemos License #6501416241

Last Buyer's Agent

Frank McGillis

RE/MAX Real Estate Professionals License #6501399058

RE/MAX Real Estate Professionals

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1907

Lot Details

  • 5,227 Sq Ft Lot
  • Lot Dimensions are 33x80
  • Corner Lot

Home Design

  • Shingle Roof
  • Aluminum Siding

Interior Spaces

  • 1,844 Sq Ft Home
  • 2-Story Property
  • Park or Greenbelt Views
  • Basement Fills Entire Space Under The House

Parking

  • 4 Parking Spaces
  • No Garage

Outdoor Features

  • Covered Patio or Porch

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Gas Water Heater

Community Details

Overview

  • 2 Units

Building Details

  • Insurance Expense $700
  • New Taxes Expense $3,206

Property Details

Home Type

Multi-Family

Year Built

Built in 1907

Lot Details

0

Listing Details

  • Tax Year: 2019
  • Levels: Two
  • Year Built: 1907
  • Lot Size Acres: 0.12
  • Lot Size: 33x80
  • Co List Office Mls Id: 981
  • Co List Office Phone: 517-349-4406
  • Subdivision Name: None
  • Above Grade Finished Sq Ft: 1844.0
  • General Property Info:Lot Size Dimensions: 33x80
  • General Property Info:Above Grade Finished Area: 1844.0
  • Exterior:Aluminum Siding: Yes
  • Levels:Two2: Yes
  • Sewer:Public Sewer: Yes
  • Roof:Shingle: Yes
  • Tax Info:Taxes2: 3206.0
  • Tax Info:Zoning3: Residential
  • Water Heater:Gas Water Heater2: Yes
  • General Property Info:Building 1 Description: 1 bedroom
  • General Property Info:_pound_ of Units: 2
  • Annual Inc Expense:Insurance4: 700.0
  • Annual Inc Expense:Tax Expense2: 3206.0
  • Land Acreage:Park View: Yes
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Heating: Forced Air, Natural Gas
  • Property Type: Resid/Multi-Family
  • Full Basement: Yes

Exterior Features

  • Roof: Shingle
  • Lot Features: Corner Lot
  • Patio And Porch Features: Covered
  • Construction Type: Aluminum Siding
  • Patio Porch Features:Covered: Yes
  • Lot Features:Corner Lot: Yes

Garage/Parking

  • Total Parking Spaces: 4.0
  • Parking Features: No Garage
  • Attached Garage: No
  • Parking Features:No Garage: Yes
  • Misc Business Info:_pound_ Parking: 4
  • General Property Info:Parking Total: 4

Utilities

  • Sewer: Public Sewer
  • Appliances: Gas Water Heater
  • Water Source: Public
  • Heating Yn: Yes
  • Heating:Forced Air: Yes
  • Heating:Natural Gas: Yes

Schools

  • Junior High Dist: Lansing

Lot Info

  • Lot Size Sq Ft: 5227.2
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 2
  • Insurance Expense: 700.0

Tax Info

  • New Taxes Expense: 3206.0
  • Tax Carrier Route: 1127

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 27, 2020
Closed on
Sep 3, 2020
Sold by
Reck Charles Ryan
Bought by
Caslavka Seth
Seller's Agent
Carin Whybrew
Coldwell Banker Professionals -Okemos
Buyer's Agent
Frank McGillis
RE/MAX Real Estate Professionals
List Price
$109,900
Sold Price
$88,500
Premium/Discount to List
-$21,400
-19.47%
Current Estimated Value
$146,751

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$58,251
Avg. Annual Appreciation
10.64%
Original Mortgage
$86,896
Outstanding Balance
$77,289
Interest Rate
2.9%
Mortgage Type
FHA
Estimated Equity
$69,462

Purchase Details

Closed on
Jan 28, 2015
Sold by
Reck Charles R and Reck Maxine Rae
Bought by
Reck Charles Ryan

Purchase Details

Closed on
May 7, 2007
Sold by
Reck Charles R and Reck Maxine R
Bought by
Reck Charles R and Reck Charles

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,000
Interest Rate
6.27%
Mortgage Type
Stand Alone Refi Refinance Of Original Loan

Purchase Details

Closed on
Jul 17, 1998
Sold by
Bolster Peter S and Bolster Clara A
Bought by
Reck Charles R and Reck Maxine R

Purchase Details

Closed on
Dec 15, 1994
Sold by
Butlevics Dagnita Todd Ingrid
Bought by
Bolster Peter S and Bolster Clara A

Purchase Details

Closed on
Mar 1, 1993
Source: Public Records

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
Caslavka Seth $88,500 Tri County Title Agency Llc
Reck Charles Ryan -- None Available
Reck Charles R -- Netco Title
Reck Charles R $50,500 --
Bolster Peter S $48,400 --
-- $43,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Caslavka Seth $86,896
Previous Owner Reck Charles R $100,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/03/2020 09/03/20 Sold $88,500 -9.6% $48 / Sq Ft
07/30/2020 07/30/20 Pending -- -- --
06/29/2020 06/29/20 Price Changed $97,900 -6.7% $53 / Sq Ft
06/12/2020 06/12/20 Price Changed $104,900 -4.5% $57 / Sq Ft
04/27/2020 04/27/20 For Sale $109,900 -- $60 / Sq Ft
Source: Greater Lansing 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
2025 $4,287 $68,000 $2,900 $65,100
2024 $34 $64,400 $2,900 $61,500
2023 $4,030 $57,700 $2,900 $54,800
2022 $3,664 $51,400 $3,200 $48,200
2021 $766 $49,200 $4,000 $45,200
2020 $3,303 $45,600 $4,000 $41,600
2019 $3,187 $41,100 $4,000 $37,100
2018 $3,026 $38,700 $4,000 $34,700
2017 $2,911 $38,700 $4,000 $34,700
2016 $2,822 $38,000 $4,000 $34,000
2015 $2,822 $36,800 $8,042 $28,758
2014 $2,822 $36,600 $14,500 $22,100
Source: Public Records

Agents Affiliated with this Home

  • Carin Whybrew

    Seller's Agent in 2020

    Carin Whybrew

    Coldwell Banker Professionals -Okemos

    (517) 719-4967

    2 in this area

    457 Total Sales

    Carin Whybrew
    Section Image
  • Wesley Whybrew

    Seller Co-Listing Agent in 2020

    Wesley Whybrew

    Coldwell Banker Professionals -Okemos

    (517) 449-7516

    1 in this area

    9 Total Sales

    Wesley Whybrew
    Section Image
  • Frank McGillis

    Buyer's Agent in 2020

    Frank McGillis

    RE/MAX Michigan

    (517) 202-2342

    2 in this area

    283 Total Sales

    Frank McGillis
    Section Image
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Map

Source: Greater Lansing Association of Realtors®

MLS Number: 245542

Greater Lansing Association of Realtors®

APN: 01-01-16-129-091

Michigan Ingham County Lansing 48933 Downtown Lansing

500 N Walnut St, Lansing, MI

This home is located at 500 N Walnut St, Lansing, MI 48933 since 27 April 2020 and is currently estimated at $146,751, approximately $79 per square foot. This property was built in 1907. 500 N Walnut St is a home located in Ingham County with nearby schools including Riddle Elementary School, Pattengill Academy, and J.W. Sexton High School.

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