NOT LISTED FOR SALE

501 Ethel Ave SE Grand Rapids, MI 49506

Eastown Neighborhood

Estimated Value: $326,000 - $446,000

-- Bed
-- Bath
-- Sq Ft
4,956 Sq Ft Lot

Last Sold October 28, 2021

Last sale price $230,000

Est. 62% increase in value since last sale

Current estimated payment $2,580/month

5 Days on Market

Highlights

  • Cooling Available
  • Forced Air Heating System
  • Wood Siding

About This Home

As of October 2021

Great Investor opportunity in Eastown! Both units nicely updated and fully leased. Separate gas & electric meters. Tenant rights apply and leases transfer to new owner. Showings may take place ONLY on Saturday, 9/18 from 11am-1pm and Sunday, 9/19 from 1pm-3pm.

Last Agent to Sell the Property

Rachael Veldkamp

RE/MAX of Grand Rapids (FH) Listed on: 09/17/2021

RE/MAX of Grand Rapids (FH)

Last Buyer's Agent

Emmett TerBeek

Five Star Real Estate (Rock) License #6501406870

Five Star Real Estate (Rock)

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $4,310

Year Built

  • Built in 1890

Lot Details

  • 4,956 Sq Ft Lot

Parking

  • 2 Parking Spaces

Home Design

  • Brick Exterior Construction
  • Composition Roof
  • Wood Siding

Basement

  • Michigan Basement
  • Crawl Space

Utilities

  • Cooling Available
  • Forced Air Heating System
  • Window Unit Heating System

Community Details

  • 2 Units

Listing and Financial Details

  • Tenant pays for electricity, gas
  • The owner pays for water, sewer

Property Details

Home Type

Apartment

Est. Annual Taxes

$4,310

Year Built

Built in 1890

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1890
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Crawl Space, Michigan Basement

Exterior Features

  • Construction Materials: Wood Siding, Brick
  • List Price: 229900.0
  • Lot Features: Sidewalk
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Composition

Garage/Parking

  • Total Parking Spaces: 2.0

Utilities

  • Cooling: Window Unit(s)
  • Cooling: Yes
  • Heating: Forced Air
  • Heating: Yes
  • Utilities: Telephone Line
  • Water Source: Public

Lot Info

  • Lot Size Acres: 0.11
  • Lot Size Area: 0.11
  • Lot Size Sq Ft: 4956.0
  • Zoning Description: Residential
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Water, Sewer
  • Tenant Pays: Electricity, Gas

Multi Family

  • Number of Units Total: 2

Tax Info

  • Tax Annual Amount: 4310.0
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 17, 2021
Closed on
Oct 28, 2021
Sold by
Friends With Properties Llc
Bought by
I E Investments Llc
Seller's Agent
Rachael Veldkamp
RE/MAX of Grand Rapids (FH)
Buyer's Agent
Emmett TerBeek
Five Star Real Estate (Rock)
List Price
$229,900
Sold Price
$230,000
Premium/Discount to List
$100
0.04%
Current Estimated Value
$372,555

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$142,555
Avg. Annual Appreciation
12.53%

Purchase Details

Listed on
Sep 17, 2021
Closed on
Oct 21, 2021
Sold by
Swinehart Thoennes Steven
Bought by
Friends With Properties Llc
Seller's Agent
Rachael Veldkamp
RE/MAX of Grand Rapids (FH)
Buyer's Agent
Emmett TerBeek
Five Star Real Estate (Rock)
List Price
$229,900
Sold Price
$230,000
Premium/Discount to List
$100
0.04%

Purchase Details

Listed on
Jul 27, 2016
Closed on
Aug 4, 2016
Sold by
Miller Jonathan S and Miller Melinda
Bought by
Thoennes Steven Swinehart and Thoennes Jennifer Swinehart
Seller's Agent
Rachael Veldkamp
RE/MAX of Grand Rapids (FH)
Buyer's Agent
Rachael Veldkamp
RE/MAX of Grand Rapids (FH)
List Price
$150,000
Sold Price
$150,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.50%
Original Mortgage
$112,500
Interest Rate
3.45%
Mortgage Type
Commercial

Purchase Details

Listed on
Jun 6, 2012
Closed on
Jun 29, 2012
Sold by
Ottenjan Gary T and Ottenjan Phyllis
Bought by
Miller Jonathan S and Miller Melinda
Seller's Agent
Arthur Maycroft
ERA Reardon Realty Great Lakes
Buyer's Agent
Rachael Veldkamp
Bluhouse Properties LLC - I
List Price
$69,500
Sold Price
$70,000
Premium/Discount to List
$500
0.72%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
20.43%

Purchase Details

Closed on
Jun 24, 1997
Sold by
Ottenjan Ottenjan and Ottenjan Ts
Bought by
Ottenjan Ts and Miller Jonathan S Melinda
Source: Public Records

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
I E Investments Llc $230,000 Chicago Title Of Mi Inc
I E Investments Llc $230,000 Chicago Title Of Mi Inc
Friends With Properties Llc -- None Listed On Document
Thoennes Steven Swinehart $150,000 Chicago Title
Miller Jonathan S $70,000 None Available
Ottenjan Ts -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Thoennes Steven Swinehart $112,500
Previous Owner Miller Melinda $85,400
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/28/2021 10/28/21 Sold $230,000 0.0% --
09/22/2021 09/22/21 Pending -- -- --
09/17/2021 09/17/21 For Sale $229,900 +53.3% --
08/04/2016 08/04/16 Sold $150,000 0.0% --
07/27/2016 07/27/16 For Sale $150,000 +114.3% --
06/07/2016 06/07/16 Pending -- -- --
06/29/2012 06/29/12 Sold $70,000 +0.7% --
06/08/2012 06/08/12 Pending -- -- --
06/06/2012 06/06/12 For Sale $69,500 -- --
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
2025 $6,605 $168,300 $0 $0
2024 $6,605 $151,700 $0 $0
2023 $6,314 $126,100 $0 $0
2022 $6,368 $122,800 $0 $0
2021 $4,166 $116,300 $0 $0
2020 $3,923 $110,600 $0 $0
2019 $4,017 $95,900 $0 $0
2018 $3,894 $85,000 $0 $0
2017 $3,799 $63,800 $0 $0
2016 $2,570 $58,000 $0 $0
2015 $2,449 $58,000 $0 $0
2013 -- $46,400 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Rachael Veldkamp

    Seller's Agent in 2021

    Rachael Veldkamp

    RE/MAX Michigan

    (616) 325-2951

    2 in this area

    143 Total Sales

    Rachael Veldkamp
    Section Image
  • Emmett TerBeek

    Buyer's Agent in 2021

    Emmett TerBeek

    Five Star Real Estate (Rock)

    (616) 240-5945

    3 in this area

    140 Total Sales

    Emmett TerBeek
    Section Image

  • A

    Seller's Agent in 2012

    Arthur Maycroft

    ERA Reardon Realty Great Lakes

See All Agents

Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 21106363

Southwestern Michigan Association of REALTORS®

APN: 41-14-32-231-017

Michigan Kent County Grand Rapids 49506 Eastown

501 Ethel Ave SE, Grand Rapids, MI

This home is located at 501 Ethel Ave SE, Grand Rapids, MI 49506 since 17 September 2021 and is currently estimated at $372,555. This property was built in 1890. 501 Ethel Ave SE is a home located in Kent County with nearby schools including Campus Elementary School, Alger Middle School, and Ottawa Hills 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.

Southwestern Michigan Association of REALTORS® Information is deemed reliable but not guaranteed.
Copyright 2025 MichRIC, LLC. All rights reserved.

Nearby Homes