NOT LISTED FOR SALE

501 N Walnut St Lansing, MI 48933

Downtown Lansing Neighborhood

Estimated Value: $142,000 - $169,426

-- Bed
-- Bath
2,340 Sq Ft
$66/Sq Ft Est. Value

Last Sold April 26, 2021

Last sale price $104,975 $45 Per Sq Ft

Est. 47% increase in value since last sale

Current estimated payment $971/month

280 Days on Market

Highlights

  • Covered Patio or Porch
  • High Speed Internet
  • 2-minute walk to Ferris Park
  • Forced Air Heating System

About This Home

As of April 2021

This sharp home has six private bedrooms with a shared kitchen and two shared full bathrooms is located in the heart of Downtown Lansing. Each bedroom is very spacious with lots of character, gorgeous woodwork throughout, and great neighbors. Each bedroom has a personal mini-fridge and freezer. Onsite washer and dryer (NOT coin-operated) Central Air Conditioning, Heat, High-Speed Internet, Gas, Water, Electric, Trash, Parking are INCLUDED. This apartment is close to highways, restaurants, MSU, Lansing Community College, government offices, the airport, Lansing’s River Trail, and more! Come check out this quiet, non-smoking home.

Lease lengths: 6 Months
Gas, Heat, Trash, Parking Included
AC, Water, Electric, Sewer Included
High-Speed Internet, Laundry Facilities Included
Utilities: Resident Pays Electricity and Water
No Smoking
Pet policies: Sorry, no pets.

Last Agent to Sell the Property

Dale Huber

DS Huber Real Estate Group LLC License #6502401344 Listed on: 08/08/2020

Last Buyer's Agent

Jonathan Lum

EXIT Realty Home Partners License #6502412954

EXIT Realty Home Partners

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1907

Lot Details

  • 3,006 Sq Ft Lot
  • Lot Dimensions are 48x66

Home Design

  • Brick Exterior Construction
  • Shingle Roof

Interior Spaces

  • 2,340 Sq Ft Home
  • 2.5-Story Property
  • Fire and Smoke Detector

Basement

  • Basement Fills Entire Space Under The House
  • Crawl Space

Parking

  • 5 Parking Spaces
  • Private Parking

Outdoor Features

  • Covered Patio or Porch

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Gas Water Heater
  • High Speed Internet

Listing and Financial Details

  • Total Actual Rent $26,040

Community Details

Overview

  • 6 Units
  • Original Of Lansing Subdivision

Building Details

  • Electric Expense $1,615
  • Insurance Expense $611
  • Water Sewer Expense $1,615
  • New Taxes Expense $3,767
  • Operating Expense $9,072
  • Net Operating Income $16,968

Property Details

Home Type

Multi-Family

Year Built

Built in 1907

Lot Details

0

Listing Details

  • Gross Rent: 26040.0
  • Less Fuel: 1464.0
  • Net Income: 16968.0
  • Total Expense: 9072.0
  • Water Sewer Expenses: 1615.0
  • Tax Year: 2019
  • Registered Licenses for Unrelated Occupants: Yes
  • Unit Information License Register Exp: 2022-08-01
  • Levels: Two and One Half
  • Year Built: 1907
  • Lot Size Acres: 0.07
  • Lot Size: 48x66
  • Subdivision Name: Original of Lansing
  • Above Grade Finished Sq Ft: 2340.0
  • General Property Info:Lot Size Dimensions: 48x66
  • General Property Info:Above Grade Finished Area: 2340.0
  • Sewer:Public Sewer: Yes
  • Utilities:High Speed Internet Available: Yes
  • Roof:Shingle: Yes
  • Security Features:Smoke Detector(s): Yes
  • General Property Info:ECO Friendly Features: No
  • Exterior:Brick: Yes
  • Levels:Two and One Half: Yes
  • Tax Info:Taxes2: 3753.0
  • Tax Info:Zoning3: Commercial
  • Water Heater:Gas Water Heater2: Yes
  • General Property Info:Building 1 Description: 6 Unit by the room
  • General Property Info:_pound_ of Units: 6
  • Annual Inc Expense:Insurance4: 611.0
  • Annual Inc Expense:Tax Expense2: 3767.0
  • Annual Inc Expense:Electricity5: 1615.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

  • Roof: Shingle
  • Patio And Porch Features: Covered
  • Construction Type: Brick
  • Patio Porch Features:Covered: Yes

Garage/Parking

  • Total Parking Spaces: 5.0
  • Parking Features: Private
  • Attached Garage: No
  • Parking Features:Private6: Yes
  • Misc Business Info:_pound_ Parking: 5
  • General Property Info:Parking Total: 5

Utilities

  • Sewer: Public Sewer
  • Appliances: Gas Water Heater
  • SecurityFeatures: Smoke Detector(s)
  • Utilities: High Speed Internet Available
  • Water Source: Public
  • Heating Yn: Yes
  • Heating:Forced Air: Yes
  • Heating:Natural Gas: Yes

Fee Information

  • Annual Water Sewer Expense: 1615.0

Schools

  • Junior High Dist: Lansing

Lot Info

  • Lot Size Sq Ft: 3005.64
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 6
  • Electric Expense: 1615.0
  • Insurance Expense: 611.0
  • Property Net Operating Income: 16968.0

Tax Info

  • New Taxes Expense: 3767.0
  • Tax Carrier Route: 1126

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 8, 2020
Closed on
Apr 26, 2021
Sold by
Tillguard Llc
Bought by
Terranova Michael
Seller's Agent
Dale Huber
DS Huber Real Estate Group LLC
Buyer's Agent
Jonathan Lum
EXIT Realty Home Partners
List Price
$139,900
Sold Price
$104,975
Premium/Discount to List
-$34,925
-24.96%
Current Estimated Value
$154,107

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$49,132
Avg. Annual Appreciation
9.48%

Purchase Details

Closed on
Jul 15, 2019
Sold by
Complete Housing Solution Llc
Bought by
Tillguard Llc

Purchase Details

Closed on
Jul 7, 2019
Sold by
Lambert George H and Lambert Teresa A
Bought by
Complete Housing Solution
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
Terranova Michael $104,975 Liberty Title
Tillguard Llc -- None Available
Complete Housing Solution -- None Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/08/2024 10/08/24 Off Market $585 -- --
09/01/2024 09/01/24 For Rent $585 0.0% --
04/26/2021 04/26/21 Sold $104,975 -4.5% $45 / Sq Ft
01/11/2021 01/11/21 Price Changed $109,900 -4.4% $47 / Sq Ft
10/27/2020 10/27/20 Price Changed $114,900 -4.2% $49 / Sq Ft
10/07/2020 10/07/20 Price Changed $119,900 -7.7% $51 / Sq Ft
09/02/2020 09/02/20 Price Changed $129,900 -3.7% $56 / Sq Ft
08/12/2020 08/12/20 Price Changed $134,900 -3.6% $58 / Sq Ft
07/03/2020 07/03/20 For Sale $139,900 -- $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 $6,151 $85,400 $15,800 $69,600
2024 $53 $87,300 $15,800 $71,500
2023 $5,134 $72,500 $15,800 $56,700
2022 $4,673 $61,300 $7,500 $53,800
2021 $4,567 $59,400 $7,500 $51,900
2020 $4,609 $59,500 $7,500 $52,000
2019 $3,741 $54,900 $7,500 $47,400
2018 $3,538 $46,800 $7,600 $39,200
2017 $3,410 $46,800 $7,600 $39,200
2016 $2,683 $46,500 $7,600 $38,900
2015 $2,683 $43,600 $15,238 $28,362
2014 $2,683 $38,600 $15,238 $23,362
Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2021

    Dale Huber

    DS Huber Real Estate Group LLC

    (517) 215-6172

    1 in this area

    19 Total Sales

    Dale Huber
    Section Image
  • Jonathan Lum

    Buyer's Agent in 2021

    Jonathan Lum

    EXIT Realty Home Partners

    (517) 798-6264

    5 in this area

    235 Total Sales

    Jonathan Lum
    Section Image
See All Agents

Map

Source: Greater Lansing Association of Realtors®

MLS Number: 247442

Greater Lansing Association of Realtors®

APN: 01-01-16-108-131

Michigan Ingham County Lansing 48933 Downtown Lansing

501 N Walnut St, Lansing, MI

This home is located at 501 N Walnut St, Lansing, MI 48933 since 08 August 2020 and is currently estimated at $154,107, approximately $65 per square foot. This property was built in 1907. 501 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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