$140,000
SOLD SEP 17, 2024

518 Ormsby St Unit 520 Ormsby Adrian, MI 49221

4 Beds
2 Baths
1,767 Sq Ft
7,841 Sq Ft Lot

Recently Sold

$79 Per Sq Ft

4% Above List Price

42 Days on Market

Highlights

  • Porch
  • Forced Air Heating System
  • Wood Siding

About This Home

As of September 2024

Check out this fantastic investment opportunity! This side by side duplex offers two units, each with 2 bedrooms and 1 bath. Both units have been recently updated and are ready for immediate occupancy. Don't miss out on this great chance to add to your investment portfolio!

Last Agent to Sell the Property

Mark Baker

Foundation Realty, LLC License #LCAR-6502138749 Listed on: 08/05/2024

Last Buyer's Agent

Kasey White

Foundation Realty, LLC License #LCAR-6506046326

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1900

Lot Details

  • 7,841 Sq Ft Lot
  • Lot Dimensions are 66x108

Home Design

  • Wood Siding

Interior Spaces

  • 2-Story Property
  • Basement
  • Basement Storage
  • Oven or Range

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Outdoor Features

  • Porch

Utilities

  • Forced Air Heating System
  • Separate Meters
  • Gas Water Heater

Community Details

  • 2 Units

Listing and Financial Details

  • Assessor Parcel Number XA0-002-5007-00

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,241

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Originating MLS: Lenawee County Association of REALTORS
  • Class: MULTIFAMILY
  • Type Of Property: Multi-Family
  • Structure Style: 2 Story
  • Total Tax Amount: 3240.79
  • Total Tax Year: 2024
  • Year Built: 1900
  • Mail City: Adrian
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Appliances: Range/Oven, Refrigerator
  • Basement: Yes
  • Basement Type: Common
  • Bedrooms: 4
  • Bathroom Description: First Flr Bath Lav/Half, Second Flr Bath Lav/Half
  • Full Bathrooms: 2
  • Total Bathrooms: 2
  • Source of Sq Ft: Public Records
  • Estimated Sq Ft: 1767

Exterior Features

  • Construction: Wood
  • Exterior Features: Porch
  • Frontage: 66
  • Foundation Type: Basement
  • Roads: City/County, Paved Street

Utilities

  • Water: Public Water
  • Water Heater: Gas
  • Fuel Type: Natural Gas
  • Heating System: Forced Air
  • Separate Electric: Yes
  • Separate Gas: Yes
  • Separate Heat: Yes
  • Separate Water: Yes
  • Sewer/Septic System: Public Sanitary

Lot Info

  • Assessor Parcel Number: XA0-002-5007-00
  • Lot Dimensions: 66x108
  • Acreage: 0.18
  • Zoning: Residential
  • Geo Subdivision: MI

Tax Info

  • Summer Tax: Year: 2024, Amount: $2,498.38
  • Winter Tax: Year: 2023, Amount: $742.41
  • Taxable Value: 45753
  • Total Tax: Year: 2024, Amount: $3,240.79
  • SEV Year: 2024

Multi Family

  • Total Units: 2

MLS Schools

  • School District: Adrian City School District

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 25, 2021
Sold by
Freaky Investments Llc
Bought by
Redav Llc
Current Estimated Value
$145,091

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$389,600
Outstanding Balance
$323,210
Interest Rate
2.9%
Mortgage Type
Stand Alone Refi Refinance Of Original Loan
Estimated Equity
-$178,119

Purchase Details

Closed on
Mar 23, 2021
Sold by
Randall Clifford D and Randall Marda Marcla
Bought by
Freaky Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$389,600
Outstanding Balance
$323,210
Interest Rate
2.9%
Mortgage Type
Stand Alone Refi Refinance Of Original Loan
Estimated Equity
-$178,119

Purchase Details

Closed on
Mar 16, 2007
Sold by
Freaky Investments Llc
Bought by
Randall Clifford D and Randall Marcia L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$71,000
Interest Rate
6.27%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 6, 2006
Sold by
Ghastin Michael
Bought by
Miller Timothy A and Miller Jody A
Source: Public Records

Similar Home in Adrian, MI

  • 215 N Broad St, Adrian, MI 49221

    $117,500

    • 6 Beds
    • 3.5 Baths
    • 3,448 Sq Ft
    • 215 N Broad St
    • Adrian, MI

    Currently a duplex but can easily be a 3 unit. 3rd unit would have to be approved by the city of Adrian. The other 2 units were certified in 2023. Could be a great income producer.

    Marcia Randall Foundation Realty, LLC

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Range of Values:

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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 Type Sale Price Title Company
Warranty Deed $87,000 None Available
Quit Claim Deed -- None Available
Quit Claim Deed -- None Available
Warranty Deed $54,153 None Available
Quit Claim Deed -- None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $389,600 Stand Alone Refi Refinance Of Original Loan
Previous Owner $73,900 New Conventional
Previous Owner $71,000 New Conventional
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/17/2024 09/17/24 Sold $140,000 +3.7% $79 / Sq Ft
09/16/2024 09/16/24 Pending -- -- --
08/05/2024 08/05/24 For Sale $135,000 -- $76 / 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 $3,898 $56,100 $0 $0
2024 $2,498 $51,200 $0 $0
2023 $3,127 $46,000 $0 $0
2022 $3,156 $41,500 $0 $0
2021 $1,594 $37,800 $0 $0
2020 $1,584 $34,400 $0 $0
2019 $72,242 $30,400 $0 $0
2018 $1,527 $35,396 $0 $0
2017 $1,484 $28,177 $0 $0
2016 $1,472 $26,173 $0 $0
2014 -- $26,000 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Michigan Multiple Listing Service

MLS Number: 50150948

Michigan Multiple Listing Service

APN: XA0-002-5007-00