NOT LISTED FOR SALE

505 W Maumee St Adrian, MI 49221

Estimated Value: $318,153

5 Beds
5 Baths
2,541 Sq Ft
$125/Sq Ft Est. Value

Last Sold December 17, 2021

Last sale price $212,500 $84 Per Sq Ft

Est. 50% increase in value since last sale

Current estimated payment $2,209/month

Highlights

  • Deck
  • Wood Siding
  • 4-minute walk to Comstock Park
  • Baseboard Heating

About This Home

As of December 2021

This is a great moneymaker. If you are looking for a great return on investment this property should be looked at. Built as a 5 unit apt the tenants pay for their own utilities except for water, trash, snow removal and lawn care. A nice large laundry room along with plenty of parking make this a great place to live and is easily rented. The west side location is convenient to downtown, the Kiwanis trail and shopping is just down the road.

Last Agent to Sell the Property

David Corder

Howard Hanna Real Estate Services-Tecumseh License #LCAR-6502332298 & 6502357706 Listed on: 05/20/2021

Howard Hanna Real Estate Services-Tecumseh

Last Buyer's Agent

Jason Perry

Irish Hills Realty License #LCAR-6501395267

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1968

Lot Details

  • 0.4 Acre Lot
  • Lot Dimensions are 61x139

Home Design

  • Wood Siding

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Full Bathrooms

Basement

  • Basement Fills Entire Space Under The House
  • Basement Window Egress

Utilities

  • Cooling System Mounted To A Wall/Window
  • Baseboard Heating
  • Separate Meters
  • Electric Water Heater

Additional Features

  • Oven or Range
  • Deck

Community Details

  • 5 Units

Listing and Financial Details

  • Assessor Parcel Number XA0-215-6002-00

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,837

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Originating MLS: Lenawee County Association of REALTORS
  • Class: MULTIFAMILY
  • Type Of Property: Multi-Family
  • Structure Style: More Than 2 Stories
  • Total Tax Amount: 3836.53
  • Total Tax Year: 2020
  • Year Built: 1968
  • Mail City: Adrian
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Range/Oven, Refrigerator
  • Basement: Yes
  • Basement Type: Egress/Daylight Windows, Full
  • Bedrooms: 5
  • Full Bathrooms: 5
  • Total Bathrooms: 5
  • Source of Sq Ft: Assessors Data
  • Estimated Sq Ft: 2541

Exterior Features

  • Construction: Wood
  • Exterior Features: Deck
  • Frontage: 61
  • Foundation Type: Basement
  • Roads: City/County

Utilities

  • Water: Public Water
  • Water Heater: Electric
  • Cooling System: Wall/Window A/C
  • Fuel Type: Electric
  • Heating System: Baseboard, Electric Heat
  • Separate Electric: Yes
  • Separate Heat: Yes
  • Sewer/Septic System: Public Sanitary

Lot Info

  • Assessor Parcel Number: XA0-215-6002-00
  • Location: Subdivision
  • Lot Dimensions: 61x139
  • Acreage: 0.4
  • Zoning: Multi-Family
  • Geo Subdivision: MI

Tax Info

  • Summer Tax: Year: 2020, Amount: $2,779.91
  • Winter Tax: Year: 2020, Amount: $1,056.62
  • Taxable Value: 62766
  • Total Tax: Year: 2020, Amount: $3,836.53
  • SEV Year: 2022

Multi Family

  • Total Units: 5

MLS Schools

  • School District: Adrian City School District

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 8, 2014
Closed on
Dec 30, 2014
Sold by
Krichbaum Properties Inc
Bought by
Moore Reginald and Moore Christine A
Seller's Agent
Lynn Pifer
Linda Rudd & Associates, Inc.
Buyer's Agent
David Corder
Howard Hanna Real Estate Services-Tecumseh
List Price
$189,000
Sold Price
$143,500
Premium/Discount to List
-$45,500
-24.07%
Current Estimated Value
$318,153

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$174,653
Avg. Annual Appreciation
7.68%
Original Mortgage
$107,625
Outstanding Balance
$82,830
Interest Rate
3.97%
Mortgage Type
Commercial
Estimated Equity
$235,323

Purchase Details

Closed on
Feb 18, 2009
Sold by
Krickhbaum Properties Llc
Bought by
Bums Robert

Purchase Details

Closed on
Sep 8, 2008
Sold by
Hasenpflug Ann L
Bought by
Properites Krichbaum

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
6.55%
Mortgage Type
Future Advance Clause Open End Mortgage
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
Moore Reginald $143,500 None Available
Bums Robert $3,000 Prestige Title Insurance Age
Properites Krichbaum $199,999 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Moore Reginald $107,625
Previous Owner Properites Krichbaum $160,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/17/2021 12/17/21 Sold $212,500 -5.6% $84 / Sq Ft
05/20/2021 05/20/21 For Sale $225,000 +56.8% $89 / Sq Ft
12/30/2014 12/30/14 Sold $143,500 -24.1% $43 / Sq Ft
10/24/2014 10/24/14 Pending -- -- --
01/08/2014 01/08/14 For Sale $189,000 -- $57 / Sq Ft
Source: Michigan Multiple Listing Service

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 $6,275 $86,000 $0 $0
2024 $3,702 $92,100 $0 $0
2023 $4,812 $87,500 $0 $0
2022 $4,439 $76,300 $0 $0
2021 $3,862 $64,700 $0 $0
2020 $3,837 $61,900 $0 $0
2019 $214,292 $70,000 $0 $0
2018 $4,530 $76,590 $0 $0
2017 $4,401 $76,709 $0 $0
2016 $4,476 $73,196 $0 $0
2014 -- $67,300 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • David Corder

    Seller's Agent in 2021

    David Corder

    Howard Hanna Real Estate Services-Tecumseh

    (517) 403-9710

    58 in this area

    241 Total Sales

    David Corder
    Section Image
  • Jason Perry

    Buyer's Agent in 2021

    Jason Perry

    Irish Hills Realty

    (517) 206-0856

    4 in this area

    62 Total Sales

    Jason Perry
    Section Image

  • L

    Seller's Agent in 2014

    Lynn Pifer

    Linda Rudd & Associates, Inc.

    Section Image
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Map

Source: Michigan Multiple Listing Service

MLS Number: 50042578

Michigan Multiple Listing Service

APN: XA0-215-6002-00

Michigan Lenawee County Adrian 49221

505 W Maumee St, Adrian, MI

This home is located at 505 W Maumee St, Adrian, MI 49221 since 20 May 2021 and is currently estimated at $318,153, approximately $125 per square foot. This property was built in 1968. 505 W Maumee St is a home located in Lenawee County with nearby schools including Adrian High School, Berean Baptist Academy, and Trenton Hills Learning Center.

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.

Michigan Multiple Listing Service Source MLS: MiRealSource
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