NOT LISTED FOR SALE

508 W Summit St Ann Arbor, MI 48103

Water Hill Neighborhood

Estimated Value: $659,000 - $749,000

-- Bed
6 Baths
1,715 Sq Ft
$417/Sq Ft Est. Value

Last Sold November 10, 2022

Last sale price $556,100 $324 Per Sq Ft

Est. 29% increase in value since last sale

Current estimated payment $4,960/month

190 Days on Market

Highlights

  • 0.22 Acre Lot
  • Community Storage Space
  • 2-minute walk to Belize Park
  • Bach Elementary School Rated A

About This Home

As of November 2022

This home is located at 508 W Summit St, Ann Arbor, MI 48103 since 03 May 2022 and is currently estimated at $714,814, approximately $416 per square foot. This property was built in 1901. 508 W Summit St is a home located in Washtenaw County with nearby schools including Bach Elementary School, Slauson Middle School, and Skyline High School.

Last Agent to Sell the Property

Jon Keller

J Keller Properties, LLC License #6502370935 Listed on: 05/03/2022

Last Buyer's Agent

Jon Keller

J Keller Properties, LLC License #6502370935 Listed on: 05/03/2022

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,835

Year Built

  • Built in 1901

Lot Details

  • 9,583

Parking

  • 4 Parking Spaces

Home Design

  • Slab Foundation

Schools

  • Bach Elementary School
  • Slauson Middle School
  • Skyline High School

Additional Features

  • Basement Fills Entire Space Under The House
  • 9,583 Sq Ft Lot
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for electric, water

Community Details

Overview

  • Property has a Home Owners Association
  • 5 Units

Additional Features

  • Community Storage Space
  • Gross Income $65,340

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,835

Year Built

Built in 1901

Lot Details

0

Listing Details

  • Property Sub-Type: 5+ Units
  • Property Type: Multi Family
  • Year Built: 1901
  • Location Property Info:Property Sub-Type: 5+ Units
  • General Property Info:Basement: Yes
  • Tax Info:Zoning3: R2A
  • General Property Info:Total _pound_ Units: 5
  • Substructure:Full: Yes
  • Substructure:Slab: Yes
  • General Property Info Elementary School2: Bach Elementary School
  • General Property Info High School: Skyline High School
  • General Property Info Middle School2: Slauson Middle School
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full, Slab
  • Basement: Yes

Exterior Features

  • Construction Materials: Other
  • List Price: 585000.0

Garage/Parking

  • Total Parking Spaces: 4.0
  • General Property Info:Total Parking Spaces: 4.0

Condo/Co-op/Association

  • Association Amenities: Cable TV, Storage
  • Association: Yes

Association/Amenities

  • Assoc Amenities:Cable TV: Yes
  • Assoc Amenities:Storage: Yes

Schools

  • Elementary School: Bach Elementary School
  • High School: Skyline High School
  • Middle/Junior School: Slauson Middle School

Lot Info

  • Lot Size Acres: 0.22
  • Lot Size Area: 0.22
  • Lot Size Sq Ft: 9583.0
  • Zoning Description: R2A

Rental Info

  • Tenant Pays: Electric, Water

Multi Family

  • Gross Income: 65340.0
  • Number of Units Total: 5

Tax Info

  • Tax Annual Amount: 11835.0
  • Tax Year: 2022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 3, 2022
Closed on
Nov 10, 2022
Sold by
Cabrio Summit Llc
Bought by
Meri Jake
Seller's Agent
Jon Keller
J Keller Properties, LLC
Buyer's Agent
Jon Keller
J Keller Properties, LLC
List Price
$799,000
Sold Price
$556,100
Premium/Discount to List
-$242,900
-30.4%
Current Estimated Value
$714,814

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$158,714
Avg. Annual Appreciation
8.14%

Purchase Details

Closed on
Jun 26, 2014
Sold by
805 Spring Street Llc
Bought by
Cabrio Summit Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,525,000
Interest Rate
4.11%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
May 19, 2004
Sold by
Snook Neil W
Bought by
805 Spring Street Llc
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Meri Jake $556,100 Liberty Title
Cabrio Summit Llc $415,000 None Available
805 Spring Street Llc -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Cabrio Summit Llc $1,525,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/10/2022 11/10/22 Sold $556,100 -30.4% $324 / Sq Ft
11/09/2022 11/09/22 Pending -- -- --
05/03/2022 05/03/22 For Sale $799,000 -- $466 / Sq Ft
Source: MichRIC

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 $14,943 $291,600 $0 $0
2024 $14,534 $269,800 $0 $0
2023 $13,856 $265,300 $0 $0
2022 $12,181 $247,700 $0 $0
2021 $11,836 $235,900 $0 $0
2020 $11,464 $221,500 $0 $0
2019 $10,935 $209,500 $209,500 $0
2018 $10,729 $192,200 $0 $0
2017 $10,350 $183,000 $0 $0
2016 $8,053 $162,987 $0 $0
2015 $5,763 $162,500 $0 $0
2014 $5,763 $93,819 $0 $0
2013 -- $93,819 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Jon Keller

    Seller's Agent in 2022

    Jon Keller

    J Keller Properties, LLC

    (734) 323-1072

    2 in this area

    78 Total Sales

    Jon Keller
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Map

Source: MichRIC

MLS Number: 20092

MichRIC

APN: 09-20-301-002

Michigan Washtenaw County Ann Arbor 48103 Water Hill

508 W Summit St, Ann Arbor, MI

Not Listed for Sale

MultiFamily

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MichRIC Information is deemed reliable but not guaranteed.
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