NOT LISTED FOR SALE

538 E Hammond St Otsego, MI 49078

Estimated Value: $100,340 - $282,000

Studio
-- Bath
-- Sq Ft
0.32 Acres

Last Sold April 18, 2023

Last sale price $120,000

Est. 72% increase in value since last sale

Current estimated payment $1,464/month

14 Days on Market

Highlights

  • Forced Air Heating System
  • Otsego High School Rated 9+
  • Level Lot

About This Home

As of April 2023

Great investment opportunity in the City of Otsego. This two unit property has long standing rental history and is ready to be added to your portfolio. Call to schedule a tour.

Last Agent to Sell the Property

Ben Otis

Weichert REALTORS Plat Allegan License #6502390146 Listed on: 03/16/2023

Weichert REALTORS Plat Allegan

Last Buyer's Agent

Brad Boone

Berkshire Hathaway HomeServices MI License #6501261340

Berkshire Hathaway HomeServices MI

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,862

Year Built

  • Built in 1880

Lot Details

  • 0.32 Acre Lot
  • Lot Dimensions are 85 x 165
  • Level Lot

Parking

  • 4 Parking Spaces

Home Design

  • Composition Roof
  • Vinyl Siding

Basement

  • Natural lighting in basement

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas

Community Details

  • 2 Buildings
  • 2 Units

Listing and Financial Details

  • Tenant pays for water, trash collection, sewer, gas

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,862

Year Built

Built in 1880

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1880
  • Location Property Info:Property Sub-Type: 2 to 4 Units
  • General Property Info:New Construction2: No
  • General Property Info:Lot Dimensions: 85 x 165
  • General Property Info:Waterfront3: No
  • General Property Info:Basement: Yes
  • Tax Info:Annual Property Tax: 2861.66
  • Tax Info:Zoning3: R-B
  • General Property Info:Total _pound_ Units: 2
  • General Property Info:Total _pound_ Bldgs: 2.0
  • Roofing:Composition: Yes
  • Heat Type:Forced Air: Yes
  • Utilities Attached:Electric4: Yes
  • Heat Source:Natural Gas3: Yes
  • Util Avail at Street:Electric: Yes
  • Util Avail at Street:Natural Gas2: Yes
  • Lot Description:Level: Yes
  • Util Avail at Street:Public Sewer: Yes
  • Util Avail at Street:Public Water: Yes
  • Utilities Attached:Natural Gas: Yes
  • Sewer:Public: Yes
  • Water:Public2: Yes
  • Substructure:Daylight: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Basement, Daylight

Exterior Features

  • List Price: 135000.0
  • Number of Buildings: 2
  • Road Surface Type: Paved
  • Roof: Composition
  • Topography: {"Level":true}
  • Waterfront: No
  • Exterior Material:Vinyl Siding: Yes
  • Access Feat:Accessibility Features2: No

Garage/Parking

  • Total Parking Spaces: 4.0
  • General Property Info:Total Parking Spaces: 4.0

Utilities

  • Heating: Forced Air, Natural Gas
  • Heating: Yes
  • Utilities: Natural Gas Connected, Public Water, Public Sewer
  • Water Source: Public

Lot Info

  • Lot Size Acres: 0.32
  • Lot Size Area: 0.32
  • Lot Size Sq Ft: 14026.0
  • Zoning Description: R-B
  • ResoLotSizeUnits: Acres

Rental Info

  • Tenant Pays: Water, Trash Collection, Sewer, Gas

Multi Family

  • Number of Units Total: 2

Tax Info

  • Tax Annual Amount: 2861.66
  • Tax Year: 2022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 23, 2024
Sold by
Esm Investments Llc
Bought by
Amj Investments Llc
Current Estimated Value
$206,835

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$92,296
Outstanding Balance
$91,570
Interest Rate
6.79%
Mortgage Type
New Conventional
Estimated Equity
$115,265

Purchase Details

Listed on
Mar 16, 2023
Closed on
Apr 18, 2023
Sold by
Stough Michael
Bought by
Esm Investments Llc
Seller's Agent
Ben Otis
Weichert REALTORS Plat Allegan
Buyer's Agent
Brad Boone
Berkshire Hathaway HomeServices MI
List Price
$135,000
Sold Price
$120,000
Premium/Discount to List
-$15,000
-11.11%
Views
154

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
22.16%
Original Mortgage
$96,000
Interest Rate
6.6%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 19, 2002
Sold by
Lewis Hazel
Bought by
Stough Michael and Stough Cindy

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$81,600
Interest Rate
9.4%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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 Buyer Sale Price Title Company
Amj Investments Llc $92,296 None Listed On Document
Amj Investments Llc $92,296 None Listed On Document
Esm Investments Llc $120,000 None Listed On Document
Esm Investments Llc $120,000 None Listed On Document
Stough Michael $96,000 Devon Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Amj Investments Llc $92,296
Closed Amj Investments Llc $92,296
Previous Owner Esm Investments Llc $96,000
Previous Owner Stough Michael $81,600
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/18/2023 04/18/23 Sold $120,000 -11.1% --
03/30/2023 03/30/23 Pending -- -- --
03/16/2023 03/16/23 For Sale $135,000 -- --
Source: MichRIC

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 $4,601 $99,300 $14,000 $85,300
2024 $2,862 $72,500 $0 $0
2023 $3,090 $77,500 $7,800 $69,700
2022 $2,862 $68,900 $7,800 $61,100
2021 $2,828 $61,000 $7,800 $53,200
2020 $2,791 $62,400 $7,800 $54,600
2019 $2,745 $57,000 $7,800 $49,200
2018 $2,690 $52,600 $7,800 $44,800
2017 $0 $49,700 $12,800 $36,900
2016 $0 $42,500 $9,500 $33,000
2015 -- $42,500 $9,500 $33,000
2014 $2,809 $43,500 $13,700 $29,800
2013 $2,809 $43,200 $13,400 $29,800
Source: Public Records

Agents Affiliated with this Home

  • Ben Otis

    Seller's Agent in 2023

    Ben Otis

    Weichert REALTORS Plat Allegan

    (616) 275-2998

    8 in this area

    205 Total Sales

    Ben Otis
    Section Image

  • B

    Buyer's Agent in 2023

    Brad Boone

    Berkshire Hathaway HomeServices MI

    (269) 207-5691

    37 in this area

    86 Total Sales

    Brad Boone
    Section Image
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Map

Source: MichRIC

MLS Number: 23007699

MichRIC

APN: 54-455-017-00

Michigan Allegan County Otsego 49078

538 E Hammond St, Otsego, MI

Not Listed for Sale

MultiFamily

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