NOT LISTED FOR SALE

538 W Main St Ionia, MI 48846

Estimated Value: $116,753 - $272,000

2 Beds
4 Baths
2,812 Sq Ft
$68/Sq Ft Est. Value

Last Sold August 22, 2014

Last sale price $60,000 $21 Per Sq Ft

Est. 220% increase in value since last sale

Current estimated payment $1,238/month

202 Days on Market

Highlights

  • Forced Air Heating System
  • High Speed Internet
  • 4-minute walk to Trailhead Park

About This Home

As of August 2014

Low Maintenance Four Unit Brick Apartment Building. Located Within Walking Distance to all of Downtown Ionia. All units occupied. Excellent cash flow. Many long term tenants. Ample parking. Appliance included.

Last Agent to Sell the Property

Jonathan Dinehart

Live Local Realty License #6502385999 Listed on: 01/14/2014

Last Buyer's Agent

Jonathan Dinehart

Coldwell Banker Professionals

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1900

Lot Details

  • 8,712 Sq Ft Lot

Parking

  • 4 Parking Spaces

Home Design

  • Brick Exterior Construction

Utilities

  • No Cooling
  • Forced Air Heating System
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

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

Community Details

Overview

  • 4 Units

Building Details

  • Insurance Expense $1,402
  • Operating Expense $6,832
  • Gross Income $20,820
  • Net Operating Income $13,988

Property Details

Home Type

Apartment

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • Year Built: 1900
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Construction Materials: Brick
  • List Price: 79900.0
  • Lot Features: Sidewalk
  • Number of Buildings: 1
  • Road Surface Type: Paved

Garage/Parking

  • Total Parking Spaces: 4.0

Utilities

  • Cooling: None
  • Cooling: No
  • Heating: Forced Air
  • Heating: Yes
  • Utilities: Telephone Line, Cable Connected, Broadband
  • Water Source: Public

Lot Info

  • Lot Size Acres: 0.2
  • Lot Size Area: 0.2
  • Lot Size Sq Ft: 8712.0
  • Zoning Description: R-1
  • ResoLotSizeUnits: Acres

Rental Info

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

Multi Family

  • Gross Income: 20820.0
  • Insurance Expense: 1402.0
  • Net Operating Income: 13988.0
  • Number of Units Total: 4
  • Operating Expense: 6832.0

Tax Info

  • Tax Annual Amount: 2517.0
  • Tax Year: 2012

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 10, 2019
Sold by
Svm Ents Llc
Bought by
Lewis Randy J
Current Estimated Value
$192,188

Purchase Details

Closed on
Sep 24, 2004
Sold by
Morgan Christopher
Bought by
S V M Enterprises Llc

Purchase Details

Closed on
Jun 27, 2002
Bought by
Svm Enterprises Llc
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
Lewis Randy J $60,000 Sun Title Agency Mi Llc
S V M Enterprises Llc -- --
Svm Enterprises Llc $115,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner S V M Enterprises Llc $96,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/22/2014 08/22/14 Sold $60,000 -24.9% $21 / Sq Ft
08/04/2014 08/04/14 Pending -- -- --
01/14/2014 01/14/14 For Sale $79,900 -- $28 / Sq Ft
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 $2,292 $80,500 $12,300 $68,200
2024 $2,182 $80,500 $12,300 $68,200
2023 $2,081 $55,100 $9,100 $46,000
2022 $1,982 $53,300 $8,000 $45,300
2021 $2,022 $43,400 $8,000 $35,400
2020 $1,911 $43,400 $8,000 $35,400
2019 $1,739 $40,800 $6,700 $34,100
2018 $1,946 $32,900 $5,900 $27,000
2017 $1,688 $32,900 $5,900 $27,000
2016 $1,739 $33,600 $5,000 $28,600
2015 -- $33,600 $5,000 $28,600
2014 $2,579 $48,100 $6,200 $41,900
Source: Public Records

Agents Affiliated with this Home

  • Jonathan Dinehart

    Seller's Agent in 2014

    Jonathan Dinehart

    Live Local Realty

    (616) 813-8972

    204 Total Sales

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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 14002575

Southwestern Michigan Association of REALTORS®

APN: 202-100-000-095-00

Michigan Ionia County Ionia 48846

538 W Main St, Ionia, MI

This home is located at 538 W Main St, Ionia, MI 48846 since 14 January 2014 and is currently estimated at $192,188, approximately $68 per square foot. This property was built in 1900. 538 W Main St is a home located in Ionia County with nearby schools including Ionia High School, Saints Peter and Paul Catholic School, and Ionia Seventh Day Adventist Elementary 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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