NOT LISTED FOR SALE

524 Wealthy St SE Grand Rapids, MI 49503

Heritage Hill Neighborhood

Estimated Value: $394,027 - $479,000

-- Bed
-- Bath
-- Sq Ft
4,792 Sq Ft Lot

Last Sold August 15, 2014

Last sale price $150,000

Est. 177% increase in value since last sale

Current estimated payment $2,685/month

42 Days on Market

About This Home

As of August 2014

All 3 units have hardwood floors with lots of windows, combination storms and screens for good ventilation. The first floor unit (#1) has an air lock entry with glass panel door leading into a large living room and equally large dining area with French doors to a bedroom that currently serves as an office. Spacious master bedroom with closet, nice kitchen and bath. A second door on the front porch leads up to Apt. #2 - a one bedroom with two closets, nice size living room, galley kitchen and small bath. On the west side near the rear is a separate staircase to Apt. #3 - one bedroom with nice living room, kitchen and bath. Small glassed in sun room and off the bedroom, a balcony large enough for 2 chairs and a grill. The garage is currently used for storage. Just two blocks to the new Wealt hy St. restaurants, coffee shops and brewery.

Last Agent to Sell the Property

Betsy Westman

Westman, Betsy License #6502131194 Listed on: 06/16/2014

Co-Listed By

John Westman

Westman, John License #6502137825

Last Buyer's Agent

Matthew Preston

Berkshire Hathaway HomeServices Michigan Real Estate (South) License #6501319809

Berkshire Hathaway HomeServices Michigan Real Estate (South)

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $3,380

Year Built

  • Built in 1870

Lot Details

  • 4,792

Parking

  • 1 Parking Space

Home Design

  • Composition Roof
  • Stucco

Utilities

  • Forced Air Heating System
  • High Speed Internet
  • Cable TV Available

Additional Features

  • Michigan Basement
  • 4,792 Sq Ft Lot

Listing and Financial Details

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

Community Details

Overview

  • 3 Units

Building Details

  • Insurance Expense $800
  • Operating Expense $5,280
  • Gross Income $20,400
  • Net Operating Income $15,120

Property Details

Home Type

Apartment

Est. Annual Taxes

$3,380

Year Built

Built in 1870

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1870
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Michigan Basement

Exterior Features

  • Construction Materials: Stucco
  • List Price: 179900.0
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Composition

Garage/Parking

  • Total Parking Spaces: 1.0

Utilities

  • Heating: Forced Air
  • Heating: Yes
  • Utilities: Telephone Line, Public Water, Public Sewer, Cable Connected, Broadband
  • Water Source: Public

Lot Info

  • Lot Size Acres: 0.11
  • Lot Size Area: 0.11
  • Lot Size Sq Ft: 4792.0
  • Zoning Description: R-403
  • ResoLotSizeUnits: Acres

Rental Info

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

Multi Family

  • Gross Income: 20400.0
  • Insurance Expense: 800.0
  • Net Operating Income: 15120.0
  • Number of Units Total: 3
  • Operating Expense: 5280.0

Tax Info

  • Tax Annual Amount: 3380.0
  • Tax Year: 2014

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 8, 2019
Sold by
Alldrr Co Llc
Bought by
Lancioni Anthony
Current Estimated Value
$415,117

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$130,000
Interest Rate
4.4%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jun 16, 2014
Closed on
Aug 15, 2014
Sold by
Hicks Brian and Hicks Marissa L
Bought by
Alldre Co Llc
Seller's Agent
Betsy Westman
Westman, Betsy
Buyer's Agent
Matthew Preston
Berkshire Hathaway HomeServices Michigan Real Estate (South)
List Price
$179,900
Sold Price
$150,000
Premium/Discount to List
-$29,900
-16.62%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.67%

Purchase Details

Closed on
May 26, 2004
Sold by
Hicks Brian
Bought by
Hicks Brian and Hicks Marissa L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$130,000
Interest Rate
5%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 21, 2003
Sold by
Owen Jody
Bought by
Hicks Brian

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$85,000
Interest Rate
5.87%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 14, 2003
Sold by
Hud
Bought by
Owen Jody

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$85,000
Interest Rate
5.87%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 29, 2002
Sold by
Chase Manhattan Mortgage Corp
Bought by
Hud

Purchase Details

Closed on
Dec 28, 1998
Sold by
Price Ahrens
Bought by
Price and Price Torres

Purchase Details

Closed on
Dec 24, 1996
Sold by
Orcutt Orcutt B B and Orcutt Ahrens B
Bought by
Hicks Ahrens B and Hicks Brian Marissa L

Purchase Details

Closed on
Apr 8, 1993
Sold by
Loftus Loftus J J and Loftus Orcutt B
Bought by
Hicks Brian Marissa L

Purchase Details

Closed on
May 26, 1989

Purchase Details

Closed on
Mar 28, 1986

Purchase Details

Closed on
Mar 18, 1986

Purchase Details

Closed on
May 2, 1985
Source: Public Records

Range of Values:

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Average Value
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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 Buyer Sale Price Title Company
Lancioni Anthony $125,000 None Available
Alldre Co Llc $150,000 Safe Title Inc
Hicks Brian -- --
Hicks Brian -- --
Owen Jody $140,910 --
Hud -- --
Price $123,400 --
Hicks Ahrens B $71,000 --
Hicks Brian Marissa L $42,000 --
-- $39,200 --
-- $14,000 --
-- $20,000 --
-- $20,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lancioni Anthony $168,500
Closed Lancioni Anthony $130,000
Previous Owner Hicks Brian $130,000
Previous Owner Hicks Brian A $18,000
Previous Owner Hicks Brian $85,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/15/2014 08/15/14 Sold $150,000 -16.6% --
07/28/2014 07/28/14 Pending -- -- --
06/16/2014 06/16/14 For Sale $179,900 -- --
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 $4,943 $175,500 $0 $0
2024 $4,943 $161,100 $0 $0
2023 $4,952 $138,000 $0 $0
2022 $4,481 $135,100 $0 $0
2021 $4,590 $120,400 $0 $0
2020 $4,415 $107,300 $0 $0
2019 $4,034 $98,000 $0 $0
2018 $4,034 $96,500 $0 $0
2017 $3,935 $79,800 $0 $0
2016 $3,954 $73,700 $0 $0
2015 $3,768 $73,700 $0 $0
2013 -- $67,300 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2014

    Betsy Westman

    Westman, Betsy

  • J

    Seller Co-Listing Agent in 2014

    John Westman

    Westman, John

  • M

    Buyer's Agent in 2014

    Matthew Preston

    Berkshire Hathaway HomeServices Michigan Real Estate (South)

    (616) 292-5167

    42 Total Sales

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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 14033518

Southwestern Michigan Association of REALTORS®

APN: 41-14-31-203-004

Michigan Kent County Grand Rapids 49503 Heritage Hill

524 Wealthy St SE, Grand Rapids, MI

This home is located at 524 Wealthy St SE, Grand Rapids, MI 49503 since 16 June 2014 and is currently estimated at $420,257. This property was built in 1870. 524 Wealthy St 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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