NOT LISTED FOR SALE

549 Giddings Ave SE Grand Rapids, MI 49506

Eastown Neighborhood

Estimated Value: $364,000 - $409,000

4 Beds
2 Baths
-- Sq Ft
4,086 Sq Ft Lot

Last Sold May 06, 2014

Last sale price $118,000

Est. 237% increase in value since last sale

Current estimated payment $2,619/month

120 Days on Market

About This Home

As of May 2014

Classic looking 2-unit property located in popular Eastown neighborhood with excellent rental record and good cash flow. Perfect for investment or great owner-occupied property. City rental certification in place with recent inspections by City of Grand Rapids. There are 2 bedrooms and 1 bath and over 1100+ sq. feet in each unit, per the city records. Appliances remain including window air conditioners, and there is a washer and dryer shared by both units. Extra storage for each unit in the basement, and the 2 stall garage has 1 stall for each unit. Small car will fit or used for added storage. Great location; this property will not last!

Last Agent to Sell the Property

Ronald Lemmon

Patriot Realty Listed on: 11/13/2013

Co-Listed By

Jeannine Lemmon

Patriot Realty License #6506039029

Last Buyer's Agent

Ryan Ogle

Bluhouse Properties LLC - I License #6502376991

Bluhouse Properties LLC - I

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $2,448

Year Built

  • Built in 1923

Lot Details

  • 4,086 Sq Ft Lot

Parking

  • 2 Parking Spaces

Home Design

  • Composition Roof
  • Wood Siding

Utilities

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

Community Details

  • Insurance Expense $1,250
  • Maintenance Expense $500
  • Operating Expense $2,810
  • Gross Income $16,440
  • Net Operating Income $13,630

Listing and Financial Details

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

Property Details

Home Type

Apartment

Est. Annual Taxes

$2,448

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Construction Materials: Wood Siding
  • List Price: 129900.0
  • Lot Features: Sidewalk
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Composition
  • Topography: {"Level":true}

Garage/Parking

  • Total Parking Spaces: 2.0

Utilities

  • Heating: Forced Air
  • Heating: Yes
  • Utilities: Telephone Line, Natural Gas Connected, Cable Connected, Public Water, Public Sewer, Broadband
  • Water Source: Public

Lot Info

  • Lot Size Acres: 0.09
  • Lot Size Area: 0.09
  • Lot Size Sq Ft: 4086.0
  • Zoning Description: Res

Rental Info

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

Multi Family

  • Gross Income: 16440.0
  • Insurance Expense: 1250.0
  • Maintenance Expense: 500.0
  • Net Operating Income: 13630.0
  • Operating Expense: 2810.0

Tax Info

  • Tax Annual Amount: 2448.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 30, 2020
Sold by
549 Giddings Llc
Bought by
Ogburn Shelbe D
Current Estimated Value
$398,141

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$279,837
Outstanding Balance
$249,712
Interest Rate
2.7%
Mortgage Type
FHA
Estimated Equity
$145,244

Purchase Details

Listed on
Nov 13, 2013
Closed on
May 6, 2014
Sold by
Befus John S and Befus Nancy Ann
Bought by
Caswell Tad
Seller's Agent
Ronald Lemmon
Patriot Realty
Buyer's Agent
Ryan Ogle
Bluhouse Properties LLC - I
List Price
$144,900
Sold Price
$118,000
Premium/Discount to List
-$26,900
-18.56%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.96%
Original Mortgage
$115,862
Interest Rate
4.5%
Mortgage Type
FHA

Purchase Details

Closed on
Apr 27, 2010
Sold by
Befus John S and Befus Barbara L
Bought by
Befus John S and The John Befus Trust

Purchase Details

Closed on
Apr 26, 2006
Sold by
Williams Ida
Bought by
Wells Fargo Bank Na

Purchase Details

Closed on
Oct 30, 2003
Sold by
Plantt Clifford H and Boerman Bev
Bought by
Williams Ida

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,000
Interest Rate
6.12%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 27, 1998
Sold by
Shaw Shaw J J
Bought by
Befus John S

Purchase Details

Closed on
Jun 29, 1998
Sold by
Treichler Treichler M M and Treichler Shaw J
Bought by
Befus Shaw J and Befus John S

Purchase Details

Closed on
Aug 26, 1997
Bought by
Befus Treichler M and Befus John S

Purchase Details

Closed on
Aug 30, 1995
Bought by
Befus Treichl and Befus John S

Purchase Details

Closed on
May 9, 1995
Sold by
Strlng Bk and Strlng Breidenfld
Bought by
Befus Breidenfld and Befus John S

Purchase Details

Closed on
May 4, 1995
Sold by
Breidenfield Breidenfield J J and Breidenfield Brdnf
Bought by
Befus John S

Purchase Details

Closed on
May 10, 1993

Purchase Details

Closed on
Aug 1, 1992
Sold by
Mtg Co Am and Sterlng Bk
Bought by
Befus John S

Purchase Details

Closed on
Jul 31, 1992
Sold by
Mtg Co Am and Mtg Co Am
Bought by
Befus John S

Purchase Details

Closed on
May 5, 1992
Sold by
Bakker Bakker K K and Bakker Dnr
Bought by
Befus John S

Purchase Details

Closed on
Dec 20, 1991
Sold by
Lett Lett D D and Breidenfield Lett
Bought by
Befus John S

Purchase Details

Closed on
Nov 1, 1991
Sold by
Lett Lett D D and Lett Bakker K
Bought by
Befus John S
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
Ogburn Shelbe D $285,000 Lighthouse Title Inc
549 Giddings Llc -- Lighthouse Title Inc
Caswell Tad $118,000 Sun Title Agency Of Mi Llc
Befus John S -- None Available
Wells Fargo Bank Na $102,205 None Available
Williams Ida $125,000 --
Befus John S -- --
Befus Shaw J $58,600 --
Befus Treichler M $48,500 --
Befus Treichl -- --
Befus Breidenfld $38,000 --
Befus John S -- --
-- -- --
Befus John S -- --
Befus John S -- --
Befus John S -- --
Befus John S -- --
Befus John S $47,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ogburn Shelbe D $279,837
Previous Owner Caswell Tad $115,862
Previous Owner Williams Ida $100,000
Closed Williams Ida $25,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/06/2014 05/06/14 Sold $118,000 -18.6% --
03/13/2014 03/13/14 Pending -- -- --
11/13/2013 11/13/13 For Sale $144,900 -- --
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 $6,329 $171,200 $0 $0
2024 $6,329 $156,700 $0 $0
2023 $6,278 $131,400 $0 $0
2022 $5,967 $117,200 $0 $0
2021 $6,107 $111,400 $0 $0
2020 $3,209 $106,200 $0 $0
2019 $3,286 $92,700 $0 $0
2018 $3,185 $84,300 $0 $0
2017 $3,107 $62,700 $0 $0
2016 $3,123 $58,200 $0 $0
2015 $2,975 $58,200 $0 $0
2013 -- $48,100 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Ronald Lemmon

    Seller's Agent in 2014

    Ronald Lemmon

    Patriot Realty

    (616) 293-0102

    198 Total Sales

    Ronald Lemmon
    Section Image
  • Jeannine Lemmon

    Seller Co-Listing Agent in 2014

    Jeannine Lemmon

    Patriot Realty

    (616) 450-7711

    224 Total Sales

    Jeannine Lemmon
    Section Image

  • R

    Buyer's Agent in 2014

    Ryan Ogle

    Bluhouse Properties LLC - I

    Section Image
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Map

Source: MichRIC

MLS Number: 13064616

MichRIC

APN: 41-14-32-208-028

Michigan Kent County Grand Rapids 49506 Eastown

549 Giddings Ave SE, Grand Rapids, MI

Not Listed for Sale

MultiFamily

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