NOT LISTED FOR SALE

502 Fairview Ave NE Grand Rapids, MI 49503

Belknap Lookout Neighborhood

Estimated Value: $484,000 - $754,000

-- Bed
-- Bath
-- Sq Ft
6,490 Sq Ft Lot

Last Sold December 21, 2016

Last sale price $365,000

Est. 71% increase in value since last sale

Current estimated payment $3,963/month

25 Days on Market

Highlights

  • Forced Air Heating System
  • 7 Car Garage
  • Laundry Facilities

About This Home

As of December 2016

You won't beat this location for a rental property. This is a 4 unit in one of the city's hottest neighborhoods that overlooks the city. All units are 2 bedroom, 1 bathroom and both sides of the basements have laundry. The property also has a detached 3 stall garage.

Last Listed By

Eric Elliott

@Home Realty LLC License #6506045606 Listed on: 11/01/2016

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,211

Year Built

  • Built in 1910

Lot Details

  • 6,490

Parking

  • 7 Car Garage

Home Design

  • Stucco

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Shared Gas Meter
  • Phone Connected
  • Cable TV Available

Additional Features

  • Basement Fills Entire Space Under The House
  • 6,490 Sq Ft Lot

Community Details

  • 4 Units
  • Laundry Facilities

Listing and Financial Details

  • Tenant pays for trash collection, gas
  • The owner pays for water, sewer

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,211

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1910
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Basement

Exterior Features

  • Construction Materials: Stucco
  • List Price: 399900.0
  • Lot Features: Sidewalk
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Waterfront: No
  • Access Feat:Accessibility Features2: No
  • Driveway Paved: Yes

Garage/Parking

  • Total Parking Spaces: 7.0
  • General Property Info:Total Parking Spaces: 7.0
  • Extras:Garages: Yes

Utilities

  • Heating: Forced Air, Natural Gas
  • Heating: Yes
  • Utilities: Cable Connected, Telephone Line
  • Water Source: Public

Lot Info

  • Lot Size Acres: 0.15
  • Lot Size Area: 0.15
  • Lot Size Sq Ft: 6490.0
  • Zoning Description: res
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Water, Sewer
  • Tenant Pays: Trash Collection, Gas

Multi Family

  • Number of Units Total: 4

Tax Info

  • Tax Annual Amount: 5211.0
  • Tax Year: 2016

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 29, 2010
Sold by
Horlings Land Investments Llc
Bought by
West Michigan Getaway Properties Llc
Total Days on Market
25
Current Estimated Value
$622,842

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$432,000
Outstanding Balance
$295,052
Interest Rate
5.05%
Mortgage Type
Commercial
Estimated Equity
$327,335

Purchase Details

Closed on
Apr 26, 2010
Sold by
West Michigan Getaway Properties Llc
Bought by
Fairview Real Estate Holdings Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$432,000
Outstanding Balance
$295,052
Interest Rate
5.05%
Mortgage Type
Commercial
Estimated Equity
$327,335

Purchase Details

Closed on
Dec 28, 2006
Sold by
Deklyen Nicholas James and Deklyen Carrie
Bought by
Horlings Land Investment Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$418,000
Interest Rate
6.24%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 25, 2006
Sold by
Deklyen Nicholas James
Bought by
Jp Morgan Chase Bank Na and Bs Alt A 2005-7

Purchase Details

Closed on
Apr 29, 2005
Sold by
Kempen Michael E
Bought by
Deklyen Nicholas James

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,000
Interest Rate
7.12%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 28, 2005
Sold by
Kempen Brenda Rae
Bought by
Kempen Michael E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,000
Interest Rate
7.12%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 27, 2005
Sold by
Kempen Michael E
Bought by
Wells Fargo Bank Na and Asset Backed Pass Through Certificates

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,000
Interest Rate
7.12%
Mortgage Type
Commercial

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
West Michigan Getaway Properties Llc -- None Available
Fairview Real Estate Holdings Llc -- None Available
Horlings Land Investment Llc $192,000 None Available
Jp Morgan Chase Bank Na $172,847 None Available
Deklyen Nicholas James $200,000 --
Kempen Michael E -- --
Wells Fargo Bank Na $79,524 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open West Michigan Getaway Properties Llc $432,000
Closed Fairview Real Estate Holdings Llc $432,000
Previous Owner Horlings Land Investment Llc $418,000
Previous Owner Deklyen Nicholas James $160,000
Previous Owner Kempen Michael E $72,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/21/2016 12/21/16 Sold $365,000 -8.7% --
11/26/2016 11/26/16 Pending -- -- --
11/01/2016 11/01/16 For Sale $399,900 -- --
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
2024 $5,727 $150,300 $0 $0
2023 $5,681 $150,300 $0 $0
2022 $5,399 $130,500 $0 $0
2021 $5,261 $100,800 $0 $0
2020 $5,156 $100,800 $0 $0
2019 $5,379 $100,800 $0 $0
2018 $5,340 $100,800 $0 $0
2017 $5,318 $100,800 $0 $0
2016 $5,392 $100,800 $0 $0
2015 $5,153 $100,800 $0 $0
2013 -- $100,800 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Eric Elliott

    Seller's Agent in 2016

    Eric Elliott

    @Home Realty LLC

    (616) 217-1717

    139 Total Sales

    Eric Elliott
    Section Image

  • K

    Buyer's Agent in 2016

    Kent Selders

    Real Property Consultants LLC

    (616) 745-2870

    3 Total Sales

    Kent Selders
    Section Image
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 16055064

Southwestern Michigan Association of REALTORS®

APN: 41-14-19-352-012

Michigan Kent County Grand Rapids 49503 Belknap Lookout

502 Fairview Ave NE, Grand Rapids, MI

Homes for Sale in Grand Rapids, MI

This home is located at 502 Fairview Ave NE, Grand Rapids, MI 49503 since 01 November 2016 and is currently estimated at $622,842. This property was built in 1910. 502 Fairview Ave NE is a home located in Kent County with nearby schools including Coit Creative Arts Academy, Riverside Middle School, and Union 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.
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