NOT LISTED FOR SALE

506 Prospect Ave SE Grand Rapids, MI 49503

Heritage Hill Neighborhood

Estimated Value: $465,428 - $725,000

-- Bed
3 Baths
-- Sq Ft
9,757 Sq Ft Lot

Last Sold June 24, 2019

Last sale price $395,000

Est. 53% increase in value since last sale

Current estimated payment $4,071/month

56 Days on Market

Highlights

  • Forced Air Heating and Cooling System
  • Wood Siding
  • 1-minute walk to Mooney Park

About This Home

As of June 2019

You don't want to miss this historic Heritage Hill duplex! Whether you are an investor looking for a property with positive cash flow or an owner occupant that would like tenants to pay your mortgage...this is the home for you. There is tons of potential for great tenants with it's proximity to downtown and St. Mary's hospital. The 2 bedroom, 2 bath main floor unit boast 9' ceilings and a spacious floor plan. The upper unit has a very large kitchen and 5 bedrooms! Schedule your private showing today.

Last Agent to Sell the Property

Brad VanOostenbrugge

RE/MAX of Grand Rapids (Stndl) License #6501385224 Listed on: 03/21/2019

RE/MAX of Grand Rapids (Stndl)

Co-Listed By

Gerald Feenstra

RE/MAX of Grand Rapids (Stndl)

Last Buyer's Agent

Santiago Gomez

Santiago Properties LLC License #6502427969

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $5,737

Year Built

  • Built in 1910

Lot Details

  • 9,757 Sq Ft Lot

Parking

  • 2 Parking Spaces

Home Design

  • Wood Siding
  • Stucco

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas

Community Details

  • 2 Units

Listing and Financial Details

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

Property Details

Home Type

Apartment

Est. Annual Taxes

$5,737

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

Exterior Features

  • Construction Materials: Wood Siding, Stucco
  • List Price: 399900.0
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Waterfront: No

Garage/Parking

  • Total Parking Spaces: 2.0

Utilities

  • Cooling: Central Air
  • Cooling: Yes
  • Heating: Natural Gas, Forced Air
  • Heating: Yes

Lot Info

  • Lot Size Acres: 0.22
  • Lot Size Area: 0.22
  • Lot Size Sq Ft: 9757.0
  • Zoning Description: res
  • ResoLotSizeUnits: Acres

Rental Info

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

Multi Family

  • Number of Units Total: 2

Tax Info

  • Tax Annual Amount: 5737.0
  • Tax Year: 2018

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jun 7, 2022
Sold by
Mitchell William
Bought by
506 Prospect Ave Llc
Current Estimated Value
$605,357

Purchase Details

Listed on
Mar 21, 2019
Closed on
Jun 24, 2019
Sold by
Treow Group Llc
Bought by
Mitchell William
Seller's Agent
Brad VanOostenbrugge
RE/MAX of Grand Rapids (Stndl)
Buyer's Agent
Santiago Gomez
Santiago Properties LLC
List Price
$419,900
Sold Price
$395,000
Premium/Discount to List
-$24,900
-5.93%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.04%
Original Mortgage
$292,500
Interest Rate
4%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 24, 2017
Sold by
Thomas Ryan
Bought by
Treow Group Llc

Purchase Details

Listed on
Aug 27, 2016
Closed on
Dec 1, 2016
Sold by
Pohlen Joseph T and Pohlen Claudia
Bought by
Thomas Ryan
Seller's Agent
Joshua Shaub
Icon Realty Group LLC
Buyer's Agent
Brad VanOostenbrugge
RE/MAX of Grand Rapids (Stndl)
List Price
$395,000
Sold Price
$372,500
Premium/Discount to List
-$22,500
-5.7%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.63%
Original Mortgage
$273,750
Interest Rate
3.47%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 31, 2014
Sold by
Pohlen Joseph and Pohlen Joseph
Bought by
Pohlen Joseph T

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$199,750
Interest Rate
3.84%
Mortgage Type
Commercial

Purchase Details

Listed on
Sep 4, 2013
Closed on
Dec 31, 2013
Sold by
Narrow Gate Investors Llc
Bought by
Pohlen Joseph
Seller's Agent
Robert Dykstra
Pyxis Realty
Buyer's Agent
Robert Dykstra
Pyxis Realty
List Price
$174,900
Sold Price
$130,000
Premium/Discount to List
-$44,900
-25.67%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
14.06%
Original Mortgage
$200,000
Interest Rate
4.31%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Oct 8, 2002
Sold by
Estate Of Mildred Thames
Bought by
Narrow Gate Investors Llc

Purchase Details

Closed on
Oct 4, 2002
Sold by
B & R Mobile Homes Inc
Bought by
Thames Andrew C and Thames Mildred
Source: Public Records

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
506 Prospect Ave Llc -- --
Mitchell William $395,000 Chicago Title Of Mi Inc
Treow Group Llc -- None Available
Thomas Ryan $372,500 None Available
Pohlen Joseph T $235,000 Bell Title Agency
Pohlen Joseph $130,000 First American Title Ins Co
Narrow Gate Investors Llc $80,000 --
Thames Andrew C $7,900 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Mtchell William E $300,000
Previous Owner Michell William $292,500
Previous Owner Thomas Ryan $273,750
Previous Owner Pohlen Joseph T $199,750
Previous Owner Pohlen Joseph P $200,000
Previous Owner Narrow Gate Vii Llc $265,000
Previous Owner Narrow Gate Investors Llc $182,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/24/2019 06/24/19 Sold $395,000 -5.9% --
05/16/2019 05/16/19 Pending -- -- --
03/21/2019 03/21/19 For Sale $419,900 +12.7% --
12/01/2016 12/01/16 Sold $372,500 -5.7% --
10/07/2016 10/07/16 Pending -- -- --
08/27/2016 08/27/16 For Sale $395,000 +203.8% --
12/31/2013 12/31/13 Sold $130,000 -25.7% --
11/27/2013 11/27/13 Pending -- -- --
09/04/2013 09/04/13 For Sale $174,900 -- --
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
2025 $9,073 $212,100 $0 $0
2024 $9,073 $199,800 $0 $0
2023 $8,956 $173,200 $0 $0
2022 $7,140 $148,200 $0 $0
2021 $7,234 $146,200 $0 $0
2020 $7,145 $136,700 $0 $0
2019 $5,918 $115,800 $0 $0
2018 $5,737 $108,300 $0 $0
2017 $5,661 $99,000 $0 $0
2016 $4,496 $83,800 $0 $0
2015 $4,284 $83,800 $0 $0
2013 -- $76,400 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2019

    Brad VanOostenbrugge

    RE/MAX Michigan

    (616) 862-4034

    1 in this area

    66 Total Sales

    Section Image
  • Gerald Feenstra

    Seller Co-Listing Agent in 2019

    Gerald Feenstra

    RE/MAX Michigan

    (616) 706-2674

    1 in this area

    383 Total Sales

    Section Image
  • Santiago Gomez

    Buyer's Agent in 2019

    Santiago Gomez

    Santiago Properties LLC

    (616) 337-0564

    1 in this area

    89 Total Sales

    Section Image

  • J

    Seller's Agent in 2016

    Joshua Shaub

    Icon Realty Group LLC

    (616) 216-2000

    75 Total Sales

    Section Image

  • R

    Seller's Agent in 2013

    Robert Dykstra

    Pyxis Realty

    (616) 402-2701

    34 Total Sales

    Section Image
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 19010239

Southwestern Michigan Association of REALTORS®

APN: 41-14-31-135-038

Michigan Kent County Grand Rapids 49503 Heritage Hill

506 Prospect Ave SE, Grand Rapids, MI

This home is located at 506 Prospect Ave SE, Grand Rapids, MI 49503 since 21 March 2019 and is currently estimated at $605,357. This property was built in 1910. 506 Prospect Ave SE is a home located in Kent County with nearby schools including Martin Luther King Leadership Academy, 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.
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