$479,000
$16K PRICE DROP

506 Fairview Ave NE Grand Rapids, MI 49503

Belknap Lookout Neighborhood

Estimated payment $3,151/month

Total Views 9,488
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • 1 Fireplace
  • Laundry closet
  • Forced Air Heating and Cooling System

About This Home

Like-new duplex just steps from Medical Mile in the sought-after Belknap Lookout neighborhood. As an owner occupied duplex, the monthly payments would be less than renting! As an investment property, could easily gross $48K/yr. Completely rebuilt in 2020 on the original foundation, this modern 2-unit property features separate utilities & nearly identical layouts: each unit offers 3 bedrooms, 1 full bath, in-unit laundry, and all the modern conveniences tenants desire. Excellent rental history. Unit 1 is currently month-to-month & Unit 2 is leased through July. Includes 2 private parking spots w/abundant permitted street parking available. Public transit nearby. A rare turnkey opportunity! 24 hour notice required for showings. FHA and VA buyers are welcome!

Listing Agent

Melissa Mitchell

Green Square Properties LLC License #6506046821 Listed on: 05/05/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,000

Year Built

  • Built in 1895

Lot Details

  • 2,570 Sq Ft Lot
  • Lot Dimensions are 40 x 64

Home Design

  • Composition Roof
  • Vinyl Siding

Interior Spaces

  • 1 Fireplace
  • Crawl Space
  • Laundry closet

Parking

  • 2 Parking Spaces
  • Driveway

Utilities

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

Community Details

  • 2 Units

Listing and Financial Details

  • The owner pays for trash collection, water, sewer

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,000

Year Built

Built in 1895

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi Family
  • New Construction: No
  • Year Built: 1895
  • Location Property Info:Property Sub-Type: 2 to 4 Units
  • General Property Info:New Construction2: No
  • General Property Info:Lot Dimensions: 40 x 64
  • General Property Info:Waterfront3: No
  • General Property Info:Basement: No
  • Tax Info:Annual Property Tax: 6000.0
  • Tax Info:Zoning3: Not available
  • Waterfront Options:Water Access YN: No
  • General Property Info:Total _pound_ Units: 2
  • General Property Info:Total _pound_ Bldgs: 1.0
  • Roofing:Composition: Yes
  • Heat Type:Forced Air: Yes
  • Air Conditioning:Central Air: Yes
  • Heat Source:Natural Gas3: Yes
  • Substructure:Crawl Space: Yes
  • Extras:Sep Gas Meter: Yes
  • Laundry Features Laundry Closet: Yes
  • Utilities Attached Electricity Connected: Yes
  • Utilities Attached Natural Gas Connected: Yes
  • Utilities Attached Cable Connected: Yes
  • Sewer:Public Sewer5: Yes
  • Water:Public Water4: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplaces: 1
  • Basement: Crawl Space
  • Basement: No
  • Laundry Features:In Unit: Yes

Exterior Features

  • Construction Materials: Vinyl Siding
  • List Price: 479000.0
  • Lot Features: Sidewalk
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Composition
  • Waterfront: No
  • Exterior Material:Vinyl Siding: Yes
  • Access Feat:Accessibility Features2: No

Garage/Parking

  • Attached Garage: No
  • Parking Features: Concrete, Driveway
  • Total Parking Spaces: 2.0
  • General Property Info:Total Parking Spaces: 2.0

Utilities

  • Cooling: Central Air
  • Cooling: Yes
  • Heating: Forced Air
  • Heating: Yes
  • Laundry Features: In Unit, Laundry Closet
  • Utilities: Natural Gas Connected, Electricity Connected, Cable Connected, Storm Sewer

Lot Info

  • Lot Size Acres: 0.06
  • Lot Size Area: 0.06
  • Lot Dimensions: 40 x 64
  • Lot Size Sq Ft: 2570.0
  • Zoning Description: Not available

Rental Info

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

Multi Family

  • Number of Units Total: 2

Tax Info

  • Tax Annual Amount: 6000.0
  • Tax Year: 2025

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

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 $5,466 $128,100 $0 $0
2024 $5,466 $123,800 $0 $0
2023 $5,225 $117,000 $0 $0
2022 $5,154 $105,500 $0 $0
2021 $3,304 $65,800 $0 $0
2020 $2,594 $63,200 $0 $0
2019 $2,656 $56,800 $0 $0
2018 $2,698 $48,600 $0 $0
2017 $1,345 $42,900 $0 $0
2016 $1,351 $31,900 $0 $0
2015 $1,288 $31,900 $0 $0
2013 -- $24,400 $0 $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/25/2025 07/25/25 Pending -- -- --
07/25/2025 07/25/25 For Sale $477,500 -0.3% --
05/30/2025 05/30/25 Price Changed $479,000 -3.2% --
05/05/2025 05/05/25 For Sale $495,000 +250.4% --
03/24/2017 03/24/17 Sold $141,250 -14.3% --
12/30/2016 12/30/16 Pending -- -- --
11/01/2016 11/01/16 For Sale $164,900 -- --
Source: Southwestern Michigan Association of REALTORS®

Purchase History

Date Type Sale Price Title Company
Quit Claim Deed -- None Available
Warranty Deed $141,250 Foundation Title Agency Llc
Quit Claim Deed -- None Available
Quit Claim Deed -- None Available
Warranty Deed $91,000 None Available
Deed $22,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $236,250 New Conventional
Closed $150,000 Future Advance Clause Open End Mortgage
Previous Owner $105,000 Commercial
Previous Owner $74,550 Commercial
Previous Owner $76,000 Commercial
Source: Public Records

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 25019621

Southwestern Michigan Association of REALTORS®

APN: 41-14-19-352-010

Michigan Kent County Grand Rapids 49503 Belknap Lookout

506 Fairview Ave NE, Grand Rapids, MI

This home is located at 506 Fairview Ave NE, Grand Rapids, MI 49503 and is currently priced at $479,000. This property was built in 1895. 506 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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Melissa Mitchell
Listing Agent
Melissa Mitchell
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Green Square Properties LLC
(616) 794-8191