NOT LISTED FOR SALE

538 Spencer St NE Grand Rapids, MI 49505

Creston Neighborhood

Estimated Value: $234,000 - $263,000

4 Beds
2 Baths
-- Sq Ft
4,573 Sq Ft Lot

Last Sold October 13, 2017

Last sale price $121,500

Est. 107% increase in value since last sale

Current estimated payment $1,748/month

8 Days on Market

About This Home

As of October 2017

Turnkey investment property in ever-growing Creston neighborhood of NE Grand Rapids. Great duplex with long term tenants and market rents ideally located mere minutes from downtown & near parks, schools, restaurants, and shopping. Upper unit has 1 bedroom and 1 full bath while the lower unit has 2 bedrooms and 1 full bath. Two car off-street parking as well as a spacious fenced back yard. Certificate of Compliance is valid through 12/1/18. Tenant pays gas and electric, and there are separate meters for each unit. Duplex is professionally managed through LeaseGR. Showings limited due to tenant availability: Mondays: 4-6 PM
Wednesday: 2-5 PM
Saturday: 12-2 PM
Seller is a licensed Broker in the State of Michigan.

Last Agent to Sell the Property

Kevin Yoder

Yoder Real Estate - I Listed on: 09/05/2017

Last Buyer's Agent

Chad Jurgens

Apex Realty Group License #6501387681

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,846

Year Built

  • Built in 1898

Lot Details

  • 4,573 Sq Ft Lot
  • Lot Dimensions are 53x86
  • Corner Lot: Yes
  • Level Lot

Home Design

  • Vinyl Siding

Basement

  • Michigan Basement

Parking

  • 2 Parking Spaces
  • Unpaved Driveway

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Shared Gas Meter

Community Details

  • 2 Units

Listing and Financial Details

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

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,846

Year Built

Built in 1898

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1898
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Michigan Basement

Exterior Features

  • List Price: 115000.0
  • Lot Features: Sidewalk
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Topography: {"Level":true}
  • Waterfront: No
  • Access Feat:Accessibility Features2: No

Garage/Parking

  • Total Parking Spaces: 2.0
  • General Property Info:Total Parking Spaces: 2.0

Utilities

  • Heating: Natural Gas, Forced Air
  • Heating: Yes

Lot Info

  • Lot Size Acres: 0.11
  • Lot Size Area: 0.11
  • Lot Size Sq Ft: 4573.0
  • Zoning Description: Res
  • ResoLotSizeUnits: Acres

Rental Info

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

Multi Family

  • Number of Units Total: 2

Tax Info

  • Tax Annual Amount: 1845.66
  • Tax Year: 2016

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 22, 2021
Sold by
Faber and Katherine
Bought by
Ebmp2 Llc
Total Days on Market
8
Current Estimated Value
$251,092

Purchase Details

Listed on
Sep 5, 2017
Closed on
Oct 13, 2017
Sold by
Casas Gr Llc
Bought by
Faber Aaron and Faber Katherine
Seller's Agent
Kevin Yoder
Yoder Real Estate - I
Buyer's Agent
Chad Jurgens
Apex Realty Group
List Price
$115,000
Sold Price
$121,500
Premium/Discount to List
$6,500
5.65%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.99%
Original Mortgage
$91,125
Interest Rate
3.78%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 22, 2014
Sold by
Yoder Kevin and Yoder Jennifer B
Bought by
Casas Gr Llc

Purchase Details

Closed on
Apr 24, 2014
Sold by
Casas Gr Llc
Bought by
Yoder Kevin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$63,000
Interest Rate
4.28%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 23, 2006
Sold by
Yoder Robert and Yoder Kevin
Bought by
Casas Gr Llc

Purchase Details

Closed on
Oct 29, 2004
Sold by
Madiol David J and Madiol Cynthia L
Bought by
Yoder Kevin and Yoder Robert

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$68,800
Interest Rate
5.71%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 26, 2003
Sold by
Rutledge Todd and Rutledge Sally
Bought by
Madiol David J and Madiol Cynthia L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$71,100
Interest Rate
6.37%
Mortgage Type
Commercial

Purchase Details

Closed on
May 20, 1996
Sold by
Favreau Favreau S S and Favreau Rutledge T
Bought by
Rutledge T and Casas Gr Llc

Purchase Details

Closed on
Jan 10, 1995
Sold by
Favreau Favreau G G and Favreau S
Bought by
Favreau S and Casas Gr Llc

Purchase Details

Closed on
Jan 9, 1995
Sold by
Favreau Favreau S S and Favreau S
Bought by
Casas Gr Llc

Purchase Details

Closed on
Jan 8, 1995
Sold by
Luurtsema Luurtsema R R and Luurtsema Favreau
Bought by
Casas Gr Llc
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 Buyer Sale Price Title Company
Ebmp2 Llc -- None Listed On Document
Faber Aaron $121,500 First American Title
Casas Gr Llc -- None Available
Yoder Kevin -- None Available
Casas Gr Llc -- None Available
Yoder Kevin $86,000 --
Madiol David J $79,000 --
Rutledge T $41,000 --
Favreau S -- --
Casas Gr Llc -- --
Casas Gr Llc -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Faber Aaron $91,125
Previous Owner Yoder Kevin $63,000
Previous Owner Yoder Kevin $68,800
Previous Owner Madiol David J $71,100
Closed Yoder Kevin $8,600
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/13/2017 10/13/17 Sold $121,500 +5.7% --
09/13/2017 09/13/17 Pending -- -- --
09/05/2017 09/05/17 For Sale $115,000 -- --
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
2024 $4,125 $99,100 $0 $0
2023 $4,092 $85,400 $0 $0
2022 $3,889 $75,000 $0 $0
2021 $2,380 $67,300 $0 $0
2020 $2,300 $62,300 $0 $0
2019 $2,355 $53,800 $0 $0
2018 $2,283 $43,100 $0 $0
2017 $1,837 $37,600 $0 $0
2016 $1,846 $34,400 $0 $0
2015 $1,759 $34,400 $0 $0
2013 -- $36,000 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • K

    Seller's Agent in 2017

    Kevin Yoder

    Yoder Real Estate - I

  • Chad Jurgens

    Buyer's Agent in 2017

    Chad Jurgens

    Apex Realty Group

    (616) 291-3342

    13 in this area

    306 Total Sales

    Chad Jurgens
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 17045023

Southwestern Michigan Association of REALTORS®

APN: 41-14-18-454-001

Michigan Kent County Grand Rapids 49505 Creston

538 Spencer St NE, Grand Rapids, MI

This home is located at 538 Spencer St NE, Grand Rapids, MI 49505 since 05 September 2017 and is currently estimated at $251,092. This property was built in 1898. 538 Spencer St NE is a home located in Kent County with nearby schools including Kent Hills School, Riverside Middle School, and Union 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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