NOT LISTED FOR SALE

548 Fulton St E Grand Rapids, MI 49503

Heritage Hill Neighborhood

Estimated Value: $434,037 - $456,000

-- Bed
-- Bath
-- Sq Ft
5,184 Sq Ft Lot

Last Sold July 28, 2023

Last sale price $407,000

Est. 6% increase in value since last sale

Current estimated payment $3,073/month

7 Days on Market

Highlights

  • 1 Fireplace
  • Hot Water Heating System
  • Level Lot
  • Window Unit Cooling System
  • Laundry Facilities
  • 1-minute walk to Baldwin Park

About This Home

As of July 2023

Great investment opportunity to own a rental property in the heart of the most popular rental district in Grand Rapids. This heritage hill Four unit is currently 75% occupied with a past average annual rental income of $43,000. With some tasteful updating & remodeling the estimated annual rental income could be $55,000 +. New boiler installed in 2022. Home is currently up for rental certification and the new owner would be responsible for completion. Home is also located in the historic district of Heritage Hill and must comply with their standards. Other amenities are a joint laundry area, basement storage and off street parking.

Last Agent to Sell the Property

Ryan Ogle

EXP Realty (Grand Rapids) License #6506045818 Listed on: 07/07/2023

EXP Realty (Grand Rapids)

Last Buyer's Agent

Peter Bruinsma

Grand River Realty License #6502402583

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,370

Year Built

  • Built in 1915

Lot Details

  • Lot Dimensions are 47 x 110
  • Level Lot

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Composition Roof
  • Wood Siding
  • Stucco

Interior Spaces

  • 1 Fireplace
  • Basement Fills Entire Space Under The House

Parking

  • 4 Parking Spaces
  • Driveway

Utilities

  • Window Unit Cooling System
  • Heating System Uses Natural Gas
  • Window Unit Heating System
  • Hot Water Heating System
  • Phone Available
  • Cable TV Available

Community Details

  • 4 Units
  • Laundry Facilities
  • Manager Expense $10

Listing and Financial Details

  • The owner pays for water, sewer, gas

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,370

Year Built

Built in 1915

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1915
  • Location Property Info:Property Sub-Type: 2 to 4 Units
  • General Property Info:New Construction2: No
  • General Property Info:Lot Dimensions: 47 X 110
  • General Property Info:Waterfront3: No
  • General Property Info:Basement: Yes
  • Tax Info:Annual Property Tax: 5369.94
  • Tax Info:Zoning3: R-2
  • General Property Info:Total _pound_ Units: 4
  • General Property Info:Total _pound_ Bldgs: 1.0
  • Roofing:Composition: Yes
  • Substructure:Full: 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
  • Util Avail at Street:Cable2: Yes
  • Util Avail at Street:Telephone Line2: Yes
  • Utilities Attached:Telephone Line: Yes
  • Heat Type:Hot Water: Yes
  • Substructure:Slab: Yes
  • Air Conditioning:Window Unit(s): Yes
  • Extras:Laundry Facility: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplaces: 1
  • Basement: Slab, Full

Exterior Features

  • Construction Materials: Wood Siding, Brick, Stucco
  • List Price: 400000.0
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Composition
  • Topography: {"Level":true}
  • Waterfront: No
  • Access Feat:Accessibility Features2: No
  • Exterior Material:Wood Siding: Yes
  • Exterior Material:Brick: Yes
  • Exterior Material:Stucco: Yes

Garage/Parking

  • Attached Garage: No
  • Parking Features: Asphalt, Driveway
  • Total Parking Spaces: 4.0
  • General Property Info:Total Parking Spaces: 4.0

Utilities

  • Cooling: Window Unit(s)
  • Cooling: Yes
  • Heating: Hot Water, Natural Gas
  • Heating: Yes
  • Sewer: Public Sewer
  • Water Source: Public

Lot Info

  • Lot Dimensions: 47 X 110
  • Zoning Description: R-2
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Water, Sewer, Gas

Multi Family

  • Manager Expense: 10.0
  • Number of Units Total: 4

Tax Info

  • Tax Annual Amount: 5369.94
  • Tax Year: 2022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 7, 2023
Closed on
Aug 22, 2023
Sold by
Vermeulen Derek J
Bought by
Truth Ventures Llc
Seller's Agent
Ryan Ogle
EXP Realty (Grand Rapids)
Buyer's Agent
Peter Bruinsma
Grand River Realty
List Price
$400,000
Sold Price
$407,000
Premium/Discount to List
$7,000
1.75%
Views
10
Current Estimated Value
$432,467

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$25,467
Avg. Annual Appreciation
2.63%
Original Mortgage
$404,995
Interest Rate
6.81%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 2, 2009
Sold by
Branigan Thomas R
Bought by
Vermeulen Derek J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$115,500
Interest Rate
5.19%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 14, 2002
Sold by
Butelu William J and Butela Rebecca I
Bought by
Branigan Thomas R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$210,343
Interest Rate
6.38%
Mortgage Type
FHA

Purchase Details

Closed on
Dec 4, 1998
Sold by
Alder Alder C C and Alder L
Bought by
Vermeulen Derek J

Purchase Details

Closed on
Jul 22, 1994
Sold by
Driver Driver R R and Driver Jacobs H
Bought by
Vermeulen Derek J

Purchase Details

Closed on
Jul 1, 1994
Sold by
Jacobs Jacobs H H and Jacobs Alder C
Bought by
Vermeulen Derek J

Purchase Details

Closed on
Feb 28, 1989

Purchase Details

Closed on
Jan 28, 1987
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
Truth Ventures Llc $407,000 None Listed On Document
Vermeulen Derek J $165,000 Trans
Branigan Thomas R $217,000 First American Title Ins Co
Vermeulen Derek J $145,000 --
Vermeulen Derek J -- --
Vermeulen Derek J $84,000 --
-- $66,600 --
-- $85,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Truth Ventures Llc $500,000
Closed Truth Ventures Llc $404,995
Previous Owner Vermeulen Derek J $98,500
Previous Owner Vermeulen Derek J $115,500
Previous Owner Branigan Thomas R $211,067
Previous Owner Branigan Thomas R $210,343
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/28/2023 07/28/23 Sold $407,000 +1.8% --
07/14/2023 07/14/23 Pending -- -- --
07/07/2023 07/07/23 For Sale $400,000 -- --
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
2025 $9,334 $202,300 $0 $0
2024 $9,334 $187,100 $0 $0
2023 $5,097 $161,500 $0 $0
2022 $5,027 $144,900 $0 $0
2021 $7,605 $159,700 $0 $0
2020 $4,734 $140,800 $0 $0
2019 $4,699 $137,600 $0 $0
2018 $4,699 $137,000 $0 $0
2017 $4,584 $112,600 $0 $0
2016 $4,606 $97,300 $0 $0
2015 $4,389 $97,300 $0 $0
2013 -- $88,100 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Ryan Ogle

    Seller's Agent in 2023

    Ryan Ogle

    EXP Realty (Grand Rapids)

    (616) 862-1713

    9 in this area

    242 Total Sales

    Section Image
  • Peter Bruinsma

    Buyer's Agent in 2023

    Peter Bruinsma

    Grand River Realty

    (616) 293-5731

    10 in this area

    192 Total Sales

    Section Image
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 23023953

Southwestern Michigan Association of REALTORS®

APN: 41-14-30-404-007

Michigan Kent County Grand Rapids 49503 Heritage Hill

548 Fulton St E, Grand Rapids, MI

This home is located at 548 Fulton St E, Grand Rapids, MI 49503 since 07 July 2023 and is currently estimated at $445,759. This property was built in 1915. 548 Fulton St E is a home located in Kent County with nearby schools including Grand Rapids Montessori Academy, Alger Middle School, and Ottawa Hills 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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