NOT LISTED FOR SALE

5196 Lucerne Ave Kalamazoo, MI 49048

Comstock Area

Estimated Value: $755,049

Studio
-- Bath
-- Sq Ft
2.84 Acre Lot

Sale Details

Date Sold: March 13, 2020

Last sale price $1,100,000

Est. 31% decrease in value since last sale

Current estimated payment $4,764 / mo

About This Home

As of March 2020

16 units in four buildings that have been split into separate legal descriptions for financing reasons. Complex has a great rental history and have been updated as they become available.

Last Agent to Sell the Property

Rick Zuiderveen

Zuiderveen, REALTORS LLC License #6502350261 Listed on: 03/14/2020

Last Buyer's Agent

Rick Zuiderveen

Zuiderveen, REALTORS LLC License #6502350261 Listed on: 03/14/2020

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $15,390

Year Built

  • Built in 1980

Lot Details

  • 2.84 Acre Lot

Parking

  • 40 Parking Spaces

Home Design

  • Composition Roof
  • Aluminum Siding

Utilities

  • Forced Air Heating and Cooling System
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for electricity, gas
  • The owner pays for water, sewer

Community Details

Overview

  • 4 Buildings
  • 16 Units

Building Details

  • Insurance Expense $6,808
  • Maintenance Expense $14,505
  • Manager Expense $11,542
  • Operating Expense $64,372
  • Gross Income $154,192
  • Net Operating Income $89,819

Property Details

Home Type

Apartment

Est. Annual Taxes

$15,390

Year Built

Built in 1980

Lot Details

2.84 Acres

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1980
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Construction Materials: Aluminum Siding
  • List Price: 1100000.0
  • Number of Buildings: 4
  • Road Surface Type: Paved
  • Roof: Composition

Garage/Parking

  • Total Parking Spaces: 40.0

Utilities

  • Cooling: Central Air
  • Cooling: Yes
  • Heating: Forced Air
  • Heating: Yes
  • Utilities: Cable Connected, Public Water, Public Sewer

Lot Info

  • Lot Size Acres: 2.84
  • Lot Size Area: 2.84
  • Lot Size Sq Ft: 123710.0
  • Zoning Description: R-1C
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Water, Sewer
  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 154192.0
  • Insurance Expense: 6808.0
  • Maintenance Expense: 14505.0
  • Manager Expense: 11542.0
  • Net Operating Income: 89819.0
  • Number of Units Total: 16
  • Operating Expense: 64372.0

Tax Info

  • Tax Annual Amount: 15390.0
  • Tax Year: 2015

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 14, 2020
Closed on
Mar 13, 2020
Sold by
Bought by
Seller's Agent
Rick Zuiderveen
Zuiderveen, REALTORS LLC
Buyer's Agent
Rick Zuiderveen
Zuiderveen, REALTORS LLC
List Price
$1,100,000
Sold Price
$1,100,000
Current Estimated Value
$755,049

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$344,951
Avg. Annual Appreciation
-5.72%
Original Mortgage
$880,000
Outstanding Balance
$762,417
Interest Rate
3.4%
Mortgage Type
Commercial
Estimated Equity
-$7,368

Purchase Details

Closed on
May 24, 2013
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$151,217
Interest Rate
3.38%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 25, 2008
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- Devon Title Company
-- Devon Title Company
-- Devon Title Company
-- None Available
-- None Available
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $880,000
Previous Owner $151,217
Previous Owner $167,700
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
03/14/2020 03/14/20 For Sale $1,100,000 0.0% --
03/13/2020 03/13/20 Sold $1,100,000 -- --
03/13/2020 03/13/20 Pending -- -- --
Source: MichRIC

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $7,803 $124,400 $0 $0
2025 $5,184 $122,500 $0 $0
2024 $5,055 $125,200 $0 $0
2023 $4,818 $118,200 $0 $0
2022 $6,736 $108,400 $0 $0
2021 $6,552 $104,800 $0 $0
2020 $4,913 $107,100 $0 $0
2019 $4,627 $100,300 $0 $0
2018 $4,481 $96,600 $0 $0
2017 $0 $97,200 $0 $0
2016 -- $95,600 $0 $0
2015 -- $74,200 $12,100 $62,100
2014 -- $74,200 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MichRIC

MLS Number: 20009905

MichRIC

APN: 07-18-110-021

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