NOT LISTED FOR SALE

545 N Ivanhoe Ave Ypsilanti, MI 48198

Estimated Value: $216,000 - $236,572

2 Beds
1 Bath
-- Sq Ft
0.3 Acres

Last Sold January 17, 2024

Last sale price $215,000

Est. 6% increase in value since last sale

Current estimated payment $1,465/month

7 Days on Market

About This Home

As of January 2024

Welcome to this hot investment opportunity! Presenting a well-maintained and income-generating duplex with one tenant already in place. The second unit could be owner occupied or rented out for additional income opportunities. This property promises not only a comfortable and convenient living arrangement for occupants but also instant and consistent cash flow, making it an ideal turnkey investment for those looking to maximize returns from day one. Nestled in a sought-after neighborhood, this duplex is strategically located. Whether you're a seasoned investor or a first-time buyer, this property offers a range of possibilities to suit your goals. Don't miss out on this rare opportunity to own a duplex with a proven track record of rental success.

Last Listed By

Erin Galinac

Real Broker Ann Arbor License #6501414430 Listed on: 12/08/2023

Real Broker Ann Arbor

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,377

Year Built

  • Built in 1958

Lot Details

  • 0.3 Acre Lot
  • Lot Dimensions are 100' x 130'

Parking

  • 4 Parking Spaces

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Composition Roof

Interior Spaces

  • 1 Fireplace
  • Crawl Space

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Cable TV Available

Community Details

  • 2 Units

Listing and Financial Details

  • Tenant pays for electric, water, sewer, gas

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,377

Year Built

Built in 1958

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi Family
  • New Construction: No
  • Year Built: 1958
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplaces: 1
  • Basement: Crawl Space, Slab
  • Basement: No

Exterior Features

  • Construction Materials: Brick
  • List Price: 230000.0
  • Number of Buildings: 1
  • Roof: Composition
  • Waterfront: No
  • Access Feat:Accessibility Features2: No

Garage/Parking

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

Utilities

  • Heating: Forced Air
  • Heating: Yes
  • Sewer: Public Sewer
  • Utilities: Natural Gas Available, Electricity Available, Cable Available, Natural Gas Connected, Electricity Connected

Lot Info

  • Lot Size Acres: 0.3
  • Lot Size Area: 0.3
  • Lot Dimensions: 100' x 130'
  • Lot Size Sq Ft: 13068.0

Rental Info

  • Owner Pays: None
  • Tenant Pays: Electric, Water, Sewer, Gas

Multi Family

  • Number of Units Total: 2

Tax Info

  • Tax Annual Amount: 3376.77
  • Tax Year: 2023

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 8, 2023
Closed on
Jan 17, 2024
Sold by
Blair Joshua Nelson and Blair Desirae
Bought by
Miller Morgan H
Seller's Agent
Erin Galinac
Real Broker Ann Arbor
List Price
$230,000
Sold Price
$215,000
Premium/Discount to List
-$15,000
-6.52%
Total Days on Market
7
Views
16
Current Estimated Value
$228,643

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$13,643
Avg. Annual Appreciation
4.53%
Original Mortgage
$161,250
Outstanding Balance
$159,339
Interest Rate
7.03%
Mortgage Type
New Conventional
Estimated Equity
$69,304

Purchase Details

Closed on
Apr 9, 2020
Sold by
Blair Joshua Nelson
Bought by
Blair Joshua Nelson and Blair Desirae

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$90,000
Interest Rate
3.6%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 22, 2015
Sold by
Misure Mitchael H and Misure Cindy S
Bought by
Blair Joshua Nelson

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$79,532
Interest Rate
3.82%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 15, 2007
Sold by
Clark Gilbert D and Clark Catherine A
Bought by
Mortgage Electronic Registration Systems
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
Miller Morgan H $215,000 Liberty Title
Blair Joshua Nelson -- Cislo Title Co
Blair Joshua Nelson $81,000 Campbel Title
Mortgage Electronic Registration Systems $108,770 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Miller Morgan H $161,250
Previous Owner Blair Joshua Nelson $90,000
Previous Owner Blair Joshua N $79,532
Previous Owner Blair Joshua Nelson $79,532
Previous Owner Misure Michael H $48,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/17/2024 01/17/24 Sold $215,000 -6.5% --
12/15/2023 12/15/23 Pending -- -- --
12/08/2023 12/08/23 For Sale $230,000 -- --
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 $2,233 $88,600 $0 $0
2023 $2,369 $76,500 $0 $0
2022 $2,259 $70,800 $0 $0
2021 $3,171 $68,600 $0 $0
2020 $3,129 $55,200 $0 $0
2019 $1,144 $54,500 $54,500 $0
2018 $0 $51,500 $0 $0
2017 $2,750 $44,300 $0 $0
2016 $1,935 $44,200 $0 $0
2015 $3,210 $46,657 $0 $0
2014 $3,210 $45,200 $0 $0
2013 -- $45,200 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Erin Galinac

    Seller's Agent in 2024

    Erin Galinac

    Real Broker Ann Arbor

    4 in this area

    67 Total Sales

    Erin Galinac
    Section Image
  • Jacob Sandoval

    Buyer Co-Listing Agent in 2024

    Jacob Sandoval

    Resource Realty Group

    (734) 546-2979

    2 in this area

    18 Total Sales

    Jacob Sandoval
    Section Image
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 23144289

Southwestern Michigan Association of REALTORS®

APN: 11-03-480-010

Michigan Washtenaw County Ypsilanti 48198

545 N Ivanhoe Ave, Ypsilanti, MI

This home is located at 545 N Ivanhoe Ave, Ypsilanti, MI 48198 since 08 December 2023 and is currently estimated at $228,643. This property was built in 1958. 545 N Ivanhoe Ave is a home located in Washtenaw County with nearby schools including Holmes Elementary School, Estabrook Elementary School, and Erickson 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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