NOT LISTED FOR SALE

530 E Hematite Dr Ishpeming, MI 49849

Estimated Value: $221,000 - $656,950

-- Bed
2 Baths
8,920 Sq Ft
$49/Sq Ft Est. Value

Last Sold March 19, 2021

Last sale price $520,000 $58 Per Sq Ft

Est. 16% decrease in value since last sale

Current estimated payment $2,322/month

475 Days on Market

Highlights

  • 1.9 Acre Lot
  • Walk-In Closet
  • Forced Air Heating and Cooling System
  • 2 Car Attached Garage
  • Patio
  • Laundry Facilities

About This Home

As of March 2021

TURN KEY CONDO/APARTMENT BUILDING with an exceptional rental history. This immaculate complex contains 4 condo/apartments and is a must see! Great business opportunity, live in one and rent the other 3 for monthly income. Very spacious 2000 sq ft apartments have spectacular floor plan with all the comforts of a conventional home. Each apartment is single level 3 bath, 3 bedroom, full kitchen, dining room and living room, entrance foyer, individual laundry room, garage (single or double) with garage door opener, patio, individual heating and separate utility systems. Unique building design was created so that ALL units are of very same layout and design. All appliances included with exception of unit 4. Beautiful landscaping and well maintained building exterior compliment the entire neighborhood. Building is secluded yet located close to downtown historic Ishpeming. Heritage bike trail close by for biking and walking pleasure. Built and operated by one family since original constructio

Last Agent to Sell the Property

Robert Anderson

KELLER WILLIAMS FIRST UP License #UPAR-6501349425 Listed on: 07/31/2019

KELLER WILLIAMS FIRST UP

Last Buyer's Agent

Steve Pelto

LOOK REALTY License #UPAR

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $32

Year Built

  • Built in 2012

Lot Details

  • 1.9 Acre Lot
  • Lot Dimensions are 465x260x200x80x215x115

Home Design

  • Slab Foundation
  • Vinyl Siding

Interior Spaces

  • Walk-In Closet
  • 2-Story Property
  • Window Treatments

Kitchen

  • Oven or Range
  • Microwave
  • Dishwasher

Parking

  • 2 Car Attached Garage
  • Garage Door Opener

Additional Features

  • Patio
  • Forced Air Heating and Cooling System

Community Details

  • 4 Units
  • Laundry Facilities

Listing and Financial Details

  • Assessor Parcel Number 52-51-300-001-01 52-51-300-001

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$32

Year Built

Built in 2012

Lot Details

0

Listing Details

  • Originating MLS: Upper Peninsula Assoc of Realtors
  • Class: MULTIFAMILY
  • Type Of Property: Multi-Family
  • Structure Style: 2 Story
  • Year Built: 2012
  • Mail City: Ishpeming
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Interior Amenities: Walk-In Closet, Window Treatment(s)
  • Appliances: Dishwasher, Microwave, Range/Oven, Refrigerator
  • Estimated Sq Ft: 8920

Exterior Features

  • Construction: Vinyl Siding
  • Exterior Features: Patio
  • Foundation Type: Slab
  • Roads: City/County

Garage/Parking

  • Garage Type: Attached Garage, Gar Door Opener
  • Garage Spaces: 2
  • Parking: Garage

Utilities

  • Water: Public Water
  • Cooling System: Central A/C
  • Fuel Type: Electric, Natural Gas
  • Heating System: Forced Air
  • Sewer/Septic System: Public Sanitary

Condo/Co-op/Association

  • Community Amenities: Laundry Facility

Lot Info

  • Assessor Parcel Number: 52-51-300-001-01 52-51-300-001
  • Lot Dimensions: 465X260X200X80X215X115
  • Acreage: 1.9
  • Geo Subdivision: MI

Multi Family

  • Total Units: 4

MLS Schools

  • School District: Ishpeming Public School District

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 31, 2019
Closed on
Mar 26, 2021
Sold by
Mark And Christine Troudt Revocable Trus
Bought by
Troudt Investments Llc
Seller's Agent
Robert Anderson
KELLER WILLIAMS FIRST UP
Buyer's Agent
Steve Pelto
LOOK REALTY
List Price
$749,000
Sold Price
$520,000
Premium/Discount to List
-$229,000
-30.57%
Current Estimated Value
$438,975

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$81,025
Avg. Annual Appreciation
-5.52%
Original Mortgage
$416,000
Outstanding Balance
$375,213
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$27,362

Purchase Details

Listed on
Jul 31, 2019
Closed on
Mar 17, 2021
Sold by
Ok Enterprises Inc
Bought by
Mark And Christine Troudt Revocable Trust and Revo Christine
Seller's Agent
Robert Anderson
KELLER WILLIAMS FIRST UP
Buyer's Agent
Steve Pelto
LOOK REALTY
List Price
$749,000
Sold Price
$520,000
Premium/Discount to List
-$229,000
-30.57%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$416,000
Outstanding Balance
$375,213
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$27,362
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
Troudt Investments Llc -- Transnation Title Agency
Mark And Christine Troudt Revocable Trust $520,000 Bensinger Cotant & Menkes Pc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Revo Mark $416,000
Closed Mark And Christine Troudt Revocable Trust $416,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/19/2021 03/19/21 Sold $520,000 -30.6% $58 / Sq Ft
11/17/2020 11/17/20 Pending -- -- --
07/31/2019 07/31/19 For Sale $749,000 -- $84 / Sq Ft
Source: Upper Peninsula 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 $32 $98,250 $0 $0
2024 $32 $108,050 $0 $0
2023 $731 $97,400 $0 $0
2022 $4,446 $183,750 $0 $0
2021 $4,166 $64,750 $0 $0
2020 $6,941 $183,750 $0 $0
2019 $6,822 $182,300 $0 $0
2018 $6,633 $139,750 $0 $0
2017 $6,464 $140,750 $0 $0
2016 $6,295 $141,150 $0 $0
2015 -- $141,150 $0 $0
2014 -- $100,800 $0 $0
2012 -- $97,500 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Upper Peninsula Association of REALTORS®

MLS Number: 10072443

Upper Peninsula Association of REALTORS®

APN: 52-51-300-001-01