$149,000
SOLD JUN 13, 2019
-- Bed
-- Bath
3,743 Sq Ft
0.25 Acres

Recently Sold

$40 Per Sq Ft

12% Below List Price

Highlights

  • 0.25 Acre Lot
  • Hot Water Heating System
  • 4-minute walk to Durant Park
  • Covered Patio or Porch
  • Wood Siding

About This Home

As of March 2021

533 Seymour Ave,
Lansing MI 48933
This beautiful 4 plex is an investor's dream. Your return will include full capacity tenants,
stunning architectural details, and a coveted location in the historical downtown capital
area. This majestic corner property offers four well maintained and managed 2 BR apartments -- each with its own unique
amenities: a small, fenced back yard with picnic table and shed; a large basement with plenty of tenant storage space; and
ample off-street parking.

533 Seymour: This stunning 2 BR, 950 sq. ft. down stairs apartment offers soaring 10
foot ceilings and a vast, open floor plan. Exquisite architectural details are found
in the updated hardwood floors; large picture and bay windows; antique fixtures, fireplace, and French doors. Further updates include new counter tops and linoleum flooring in both the galley kitchen and bathroom. Two entrances open from the concrete driveway providing plenty of residential off-street
parking.

533 1/2 Seymour: This private 2 Br, 1088 sq. ft. upstairs apartment offers stunning architectural details found in the updated hardwood floors; bright, large picture windows; antique cast iron heat registers; and hidden storage space provided by the attic and multiple closets throughout. The impressive master bedroom offers soaring 10 foot ceilings, a picturesque bay window and walk-in closet. Further updates include new countertops and
linoleum flooring in both the quaint kitchen and bathroom which also features an etched glass window and pedestal sink.

303 Lapeer: This 2 Br, 1 1/2 bath, 1046 sq. ft. apartment offers lovely architectural details found in the hardwood floor dining room lit by etched - glass windows and opens to the spacious and windowed kitchen. The master bedroom includes a half bath and opens directly to the fenced back yard. There is updated carpet flooring in living room and both bedrooms. Two entrances open from the driveway providing plenty of residential off-street parking.

303 1/2 Lapeer: This charming and private 2 BR, 717 sq. ft.,
upstairs apartment offers a private entry into a lovely interior vestibule complete with wood banister, carpeted staircase lit with chandelier, and mirrored fixtures. The apartment offers an open living and dining room floor plan with hardwood floors; a windowed galley kitchen and bathroom; and updated carpeted
bedrooms that include one balcony.

Your tenants will enjoy a brief stroll to nearby parks, the Lansing River Walk, Old Town, the farmer's market, unique shops and restaurants. Although the home is located within a historical
neighborhood, it is also steps from LCC, the capital building,
Sparrow hospital, and MSU all of which reflect the professional
tenant demographic.

Last Agent to Sell the Property

Jeffrey Bone

Century 21 Affiliated License #6501352421 Listed on: 03/22/2019

Century 21 Affiliated

Last Buyer's Agent

Hunter Seyfarth

Berkshire Hathaway HomeServices License #6501386167

Berkshire Hathaway HomeServices

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1873

Lot Details

  • 0.25 Acre Lot
  • Lot Dimensions are 66x99

Home Design

  • Shingle Roof
  • Wood Siding

Interior Spaces

  • 3,743 Sq Ft Home
  • 2-Story Property
  • Fire and Smoke Detector

Basement

  • Basement Fills Entire Space Under The House
  • Michigan Basement

Parking

  • 4 Parking Spaces
  • No Garage
  • Dirt Driveway

Outdoor Features

  • Covered Patio or Porch

Utilities

  • Heating System Uses Natural Gas
  • Hot Water Heating System
  • Gas Water Heater

Listing and Financial Details

  • Total Actual Rent $33,600

Community Details

Overview

  • 4 Units

Building Details

  • Insurance Expense $1,860
  • Other Expense $2,420
  • Water Sewer Expense $4,770
  • New Taxes Expense $4,957
  • Net Operating Income $19,592

Property Details

Home Type

Multi-Family

Year Built

Built in 1873

Lot Details

0

Listing Details

  • Gross Rent: 33600.0
  • Miscellaneous: 2420.0
  • Net Income: 19592.0
  • Water Sewer Expenses: 4770.0
  • Misc Business Info Parking Surface: Concrete/Dirt
  • Misc Business Info Roof Type: Shingle
  • Tax Year: 2018
  • Registered Licenses for Unrelated Occupants: City of Lansing
  • Misc Business Info Overall Building Siz: 3743
  • Levels: Two
  • Year Built: 1873
  • Lot Size Acres: 0.25
  • Lot Size: 66x99
  • Subdivision Name: None
  • Above Grade Finished Sq Ft: 3743.0
  • General Property Info:Lot Size Dimensions: 66x99
  • General Property Info:Above Grade Finished Area: 3743.0
  • Levels:Two2: Yes
  • Sewer:Public Sewer: Yes
  • Roof:Shingle: Yes
  • Security Features:Smoke Detector(s): Yes
  • Exterior:Wood Siding: Yes
  • Parking Features:Dirt3: Yes
  • Tax Info:Taxes2: 4960.0
  • Tax Info:Zoning3: Residential
  • Water Heater:Gas Water Heater2: Yes
  • General Property Info:Building 1 Description: 2 story quadplex
  • General Property Info:_pound_ of Units: 4
  • Annual Inc Expense:Insurance4: 1860.0
  • Annual Inc Expense:Tax Expense2: 4957.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full, Michigan
  • Heating: Electric, Hot Water, Natural Gas
  • Property Type: Resid/Multi-Family
  • Full Basement: Yes
  • Basement:Michigan: Yes

Exterior Features

  • Roof: Shingle
  • Patio And Porch Features: Covered
  • Construction Type: Wood Siding
  • Patio Porch Features:Covered: Yes

Garage/Parking

  • Parking Features: Dirt, No Garage
  • Attached Garage: No
  • Parking Features:No Garage: Yes
  • General Property Info:Parking Total: 4

Utilities

  • Sewer: Public Sewer
  • Water Source: Public
  • Heating Yn: Yes
  • Heating:Natural Gas: Yes
  • Heating:Hot Water: Yes
  • Heating:Electric: Yes

Schools

  • Junior High Dist: Lansing

Lot Info

  • Lot Size Sq Ft: 10890.0
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Carrier Route: 1117

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 4, 2021
Closed on
Apr 22, 2021
Sold by
Oullette Jesse Daniel
Bought by
Jdo Ventures Ii Llc
Seller's Agent
Hunter Seyfarth
Berkshire Hathaway HomeServices
Buyer's Agent
Rob Buffington
White Pine Sotheby's International Realty
List Price
$179,900
Sold Price
$190,000
Premium/Discount to List
$10,100
5.61%
Current Estimated Value
$255,141

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$65,141
Avg. Annual Appreciation
5.99%
Original Mortgage
$152,000
Interest Rate
2.7%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jan 4, 2021
Closed on
Mar 2, 2021
Sold by
Light Blue Properties Ltd
Bought by
Ouellette Jesse Daniel
Seller's Agent
Hunter Seyfarth
Berkshire Hathaway HomeServices
Buyer's Agent
Rob Buffington
White Pine Sotheby's International Realty
List Price
$179,900
Sold Price
$190,000
Premium/Discount to List
$10,100
5.61%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$152,000
Interest Rate
2.7%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 19, 2019
Sold by
Platt Street Investments Llc
Bought by
Light Blue Properties Llc

Purchase Details

Listed on
Mar 22, 2019
Closed on
Jun 11, 2019
Sold by
Anne Marie Schrader Living Trust
Bought by
Platt Street Investments Llc
Seller's Agent
Jeffrey Bone
Century 21 Affiliated
Buyer's Agent
Hunter Seyfarth
Berkshire Hathaway HomeServices
List Price
$169,900
Sold Price
$149,000
Premium/Discount to List
-$20,900
-12.3%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.43%
Original Mortgage
$112,000
Interest Rate
4.1%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 27, 2014
Sold by
Schrader Anne Marie
Bought by
Schrader Anne Marie

Purchase Details

Closed on
Dec 29, 2011
Sold by
Lansing Pine Street Llc
Bought by
Schrader Anne Marie

Purchase Details

Closed on
Nov 12, 2004
Sold by
Coleman Melvin B and Coleman Rita L
Bought by
Lansing Pine Street Llc

Purchase Details

Closed on
Dec 17, 1997
Sold by
Kellogg Sharon
Bought by
Melvin and Rita Coleman
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 Type Sale Price Title Company
Warranty Deed -- None Available
Warranty Deed $190,000 Title Resource Agency
Quit Claim Deed -- None Available
Warranty Deed $149,000 Transnation Title Agency
Interfamily Deed Transfer -- None Available
Quit Claim Deed -- None Available
Warranty Deed $150,000 Metropolitan Title Company
Warranty Deed $38,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $152,000 New Conventional
Previous Owner $112,000 Commercial
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/02/2021 03/02/21 Sold $190,000 +5.6% $51 / Sq Ft
02/17/2021 02/17/21 Pending -- -- --
01/04/2021 01/04/21 For Sale $179,900 +20.7% $48 / Sq Ft
06/13/2019 06/13/19 Sold $149,000 -6.8% $40 / Sq Ft
05/04/2019 05/04/19 Price Changed $159,900 -3.0% $43 / Sq Ft
04/09/2019 04/09/19 Price Changed $164,900 -2.9% $44 / Sq Ft
03/22/2019 03/22/19 For Sale $169,900 -- $45 / Sq Ft
Source: Greater Lansing 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 $9,480 $126,100 $6,400 $119,700
2024 $78 $119,400 $6,400 $113,000
2023 $8,394 $107,200 $6,400 $100,800
2022 $7,672 $94,400 $5,800 $88,600
2021 $7,267 $89,800 $6,400 $83,400
2020 $6,874 $82,800 $6,400 $76,400
2019 $3,717 $40,500 $6,400 $34,100
2018 $4,843 $63,500 $6,400 $57,100
2017 $4,657 $63,500 $6,400 $57,100
2016 $4,472 $62,300 $6,400 $55,900
2015 $4,472 $60,400 $12,781 $47,619
2014 $4,472 $56,900 $17,000 $39,900
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Greater Lansing Association of Realtors®

MLS Number: 234737

Greater Lansing Association of Realtors®

APN: 01-01-16-129-161