NOT LISTED FOR SALE

517 2nd St Ypsilanti, MI 48197

Heritage Park Neighborhood

Estimated Value: $231,000 - $383,155

7 Beds
3 Baths
2,266 Sq Ft
$134/Sq Ft Est. Value

Last Sold June 12, 2018

Last sale price $139,000 $61 Per Sq Ft

Est. 119% increase in value since last sale

Current estimated payment $2,082/month

35 Days on Market

Highlights

  • 0.3 Acre Lot
  • Porch
  • Ceiling Fan
  • Balcony
  • Awning
  • 6 Car Garage

About This Home

As of June 2018

EXTREMELY RARE FIND SOLID BRICK TRIPLEX FULLY TENANT OCCUPIED WITH LONG TERM TENANTS WITHIN MINUTES OF DOWNTOWN YPSILANTI AND EASTERN MICHIGAN UNIVERSITY! PROPERTY IS SUPER CLEAN, WELL MAINTAINED, SOLID STRUCTURE, WELL FUNCTIONING MECHANICALS! INVESTORS DREAM! COLLECT SOLID INCOME FOR YEARS TO COME ON THIS BEAUTY!

Last Agent to Sell the Property

Robert Kabbani

Keller Williams Legacy License #6506045187 Listed on: 03/21/2018

Keller Williams Legacy

Last Buyer's Agent

Benny Margolis

Max Broock Realtors License #RCO-6501384651

Max Broock Realtors

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,516

Year Built

  • Built in 1960 | Remodeled in 2018

Lot Details

  • 0.3 Acre Lot
  • Lot Dimensions are 75x70
  • Fenced

Home Design

  • Triplex
  • Brick Exterior Construction
  • Block Foundation
  • Asphalt Roof

Interior Spaces

  • 3 Full Bathrooms
  • 2,266 Sq Ft Home
  • 3-Story Property
  • Ceiling Fan
  • Awning
  • Finished Basement

Parking

  • 6 Car Garage
  • On-Street Parking
  • Assigned Parking

Outdoor Features

  • Balcony
  • Exterior Lighting
  • Porch

Utilities

  • Heating System Uses Steam
  • Heating System Uses Natural Gas
  • Natural Gas Water Heater
  • Sewer in Street
  • High Speed Internet
  • Cable TV Available

Community Details

  • 3 Units
  • Morses Add Subdivision

Listing and Financial Details

  • Assessor Parcel Number 111139465010

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,516

Year Built

Built in 1960 | Remodeled in 2018

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Triplex
  • Architecture Level: 3 Story
  • Year Built: 1960
  • Year Renovated: 2018
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3

Interior Features

  • Interior Amenities: Cable Available, High Spd Internet Avail
  • Total Bathrooms: 3.00
  • Full Bathrooms: 3
  • Basement: Yes
  • Basement Type: Finished
  • Sq Ft Combined: 3366
  • Sq Ft Lower Floor: 1100
  • Total Sq Ft: 2266
  • Sq Ft Total Bsmt: 1100

Exterior Features

  • Roof Material: Asphalt
  • Foundation Details: Basement
  • Construction Materials: Brick
  • Exterior Features: Awning/Overhang(s), Fenced, Lighting
  • Foundation Materials: Block
  • Porch Type: Balcony, Porch
  • Road Frontage Type: Paved, Pub. Sidewalk

Garage/Parking

  • MF Parking: Assigned Spaces, Garages, On Street, Paved
  • Total Parking Spaces: 6

Utilities

  • Heating Fuel: Natural Gas
  • Cooling: Ceiling Fan(s)
  • Heating: Steam
  • Sewer: Sewer at Street, Public Sewer (Sewer-Sanitary)
  • Water Heater Fuel: Natural Gas
  • Water Source: Public (Municipal), Water at Street
  • Laundry Facilities: No

Schools

  • School District: Ypsilanti

Lot Info

  • List Price per Acre: 499666.6667
  • Lot Size Area: 0.30
  • Lot Dimensions: 75X70
  • Parcel Number: 111139465010
  • Zoning: Multi-Family

Rental Info

  • Rent Includes: Heat, Water/Sewer
  • Legal Rental Certified: Yes
  • Monthly Rental Income: 2250

Tax Info

  • Tax Amount Winter: 88.0000
  • Total Tax: 88.0000

Multi Family

  • Gross Scheduled Income: 27000.00
  • Number Of Units Total: 3
  • Unit Count: 2
  • Number of Three Bedroom Units: 1
  • Number of Two Bedroom Units: 2
  • Number Of Units Leased: 3

MLS Schools

  • School District: Ypsilanti

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 10, 2020
Sold by
517 2Nd St Llc
Bought by
Sadri Mahyar N and Mays Justin M
Current Estimated Value
$304,289

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$126,000
Outstanding Balance
$92,751
Interest Rate
2.7%
Mortgage Type
New Conventional
Estimated Equity
$154,944

Purchase Details

Closed on
Aug 22, 2018
Sold by
Mays Justin and Sadri Mahyar
Bought by
517 2Nd Street Llc

Purchase Details

Listed on
Mar 21, 2018
Closed on
Jul 12, 2018
Sold by
Abraham Joseph L and Abraham Josephine H
Bought by
Sadri Mahyar and Mays Justin
Seller's Agent
Robert Kabbani
Keller Williams Legacy
Buyer's Agent
Benny Margolis
Max Broock Realtors
List Price
$154,900
Sold Price
$139,000
Premium/Discount to List
-$15,900
-10.26%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.27%
Original Mortgage
$111,200
Interest Rate
4.6%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 28, 2003
Sold by
Abraham Joseph L and Abraham Josephine H
Bought by
Abraham Joseph L and Abraham Josephine H
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
Sadri Mahyar N -- Liberty Title
517 2Nd Street Llc -- None Available
Sadri Mahyar $139,000 Venture Title Agency
Abraham Joseph L -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Sadri Mahyar N $126,000
Previous Owner Sadri Mayhar $111,200
Previous Owner Abraham Joseph $70,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/12/2018 06/12/18 Sold $139,000 -7.3% $61 / Sq Ft
04/25/2018 04/25/18 Pending -- -- --
04/18/2018 04/18/18 Price Changed $149,900 -3.2% $66 / Sq Ft
03/21/2018 03/21/18 For Sale $154,900 -- $68 / Sq Ft
Source: Realcomp

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 $5,516 $125,400 $0 $0
2024 $5,516 $121,800 $0 $0
2023 $5,201 $103,300 $0 $0
2022 $5,372 $95,800 $0 $0
2021 $5,277 $82,900 $0 $0
2020 $5,396 $68,900 $0 $0
2019 $5,208 $59,100 $59,100 $0
2018 $4,408 $57,400 $0 $0
2017 $4,319 $54,400 $0 $0
2016 $4,372 $50,551 $0 $0
2015 -- $50,400 $0 $0
2014 -- $50,912 $0 $0
2013 -- $50,912 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Robert Kabbani

    Seller's Agent in 2018

    Robert Kabbani

    Keller Williams Legacy

    (313) 917-3902

    334 Total Sales

    Robert Kabbani
    Section Image
  • Benny Margolis

    Buyer's Agent in 2018

    Benny Margolis

    Max Broock Realtors

    (734) 985-5091

    1 in this area

    95 Total Sales

    Benny Margolis
    Section Image
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Map

Source: Realcomp

MLS Number: 218023232

Realcomp

APN: 11-39-465-010

Michigan Washtenaw County Ypsilanti 48197 Heritage Park

517 2nd St, Ypsilanti, MI

This home is located at 517 2nd St, Ypsilanti, MI 48197 since 21 March 2018 and is currently estimated at $304,289, approximately $134 per square foot. This property was built in 1960. 517 2nd St is a home located in Washtenaw County with nearby schools including Estabrook Elementary School, Erickson Elementary School, and Holmes Elementary 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.

Realcomp IDX provided courtesy of Realcomp II Ltd. via Ten-X and MLS
Copyright 2025 Realcomp II Ltd. Shareholders
IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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