NOT LISTED FOR SALE

553 Lane Ave NW Unit 3 Grand Rapids, MI 49504

West Grand Neighborhood

Estimated Value: $276,000 - $322,000

-- Bed
-- Bath
-- Sq Ft
6,682 Sq Ft Lot

Last Sold January 20, 2022

Last sale price $290,000

Est. 2% increase in value since last sale

Current estimated payment $2,043/month

2 Days on Market

About This Home

As of January 2022

Great location and long term investment. Don't miss this opportunity! Two houses on one lot. Improvements to 553 Lane include new siding in 2021, three new exterior doors. The lower unit recent updates to kitchen and bathroom, newer furnace, new drywall in main room. Upper unit recent updates to bathroom and portion of kitchen, new drywall in stairway. At 555 Lane Ave new siding in 2020, some new windows, water heater 3 years old. All units occupied and certificate of compliance up to date. Total rent $3300/month. Sale includes parcel at 557 Lane Ave, parcel number 41-13-23-453-024. Buyer and Buyers agent to verify all listed information.

Last Agent to Sell the Property

Brian Timm

Best Homes of Michigan Allegan License #6506046839 Listed on: 11/11/2021

Last Buyer's Agent

Allison Koetsier

Compass Realty Services License #6502378425

Compass Realty Services

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $2,574

Year Built

  • Built in 1890

Lot Details

  • 6,682

Home Design

  • Composition Roof

Utilities

  • Forced Air Heating System
  • Natural Gas Connected
  • High Speed Internet
  • Cable TV Available

Additional Features

  • Michigan Basement
  • 6,682 Sq Ft Lot

Community Details

  • 2 Buildings
  • 3 Units

Listing and Financial Details

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

Property Details

Home Type

Apartment

Est. Annual Taxes

$2,574

Year Built

Built in 1890

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1890
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Michigan Basement

Exterior Features

  • List Price: 290000.0
  • Number of Buildings: 2
  • Road Surface Type: Paved
  • Roof: Composition

Utilities

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

Lot Info

  • Lot Size Acres: 0.15
  • Lot Size Area: 0.15
  • Lot Size Sq Ft: 6682.0
  • Zoning Description: res
  • ResoLotSizeUnits: Acres

Rental Info

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

Multi Family

  • Number of Units Total: 3

Tax Info

  • Tax Annual Amount: 2574.0
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 11, 2021
Closed on
Jan 20, 2022
Sold by
Sanchez Fajardo Perla Cristina and Sanchez Jenry L
Bought by
Stephens Michael D and Stephens Kimberlie
Seller's Agent
Brian Timm
Best Homes of Michigan Allegan
Buyer's Agent
Allison Koetsier
Compass Realty Services
List Price
$290,000
Sold Price
$290,000
Current Estimated Value
$295,623

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$5,623
Avg. Annual Appreciation
-0.36%
Original Mortgage
$217,500
Outstanding Balance
$202,347
Interest Rate
3.22%
Mortgage Type
New Conventional
Estimated Equity
$83,807

Purchase Details

Closed on
Aug 31, 2021
Sold by
Bluemax Properties Llc
Bought by
Fajardo Perla Cristina San and De La Cruz

Purchase Details

Closed on
Sep 14, 2020
Sold by
Bluemax Properties Llc
Bought by
Fajardo Perla Cristina Sanchez and Cruz Jenry Luna

Purchase Details

Closed on
Mar 12, 2020
Sold by
Lopez Yhoel Pena
Bought by
Sanchez Perla

Purchase Details

Closed on
Mar 12, 2019
Sold by
Lopez Yhoel Pena
Bought by
Sanchez Perla

Purchase Details

Closed on
Oct 28, 2016
Sold by
Bluemax Properties Llc
Bought by
Lopez Yhoel Pena and Sanchez Perla

Purchase Details

Closed on
Jul 31, 2013
Sold by
Farrer & Away Ventures Llc
Bought by
Bluemax Properties Llc

Purchase Details

Closed on
Mar 22, 2012
Sold by
Fannie Mae
Bought by
Farmer & Away Ventures Llc

Purchase Details

Closed on
Sep 21, 2011
Sold by
Wells Fargo Bank Na
Bought by
Fannie Mae and Federal National Mortgage Association

Purchase Details

Closed on
Jul 13, 2011
Sold by
Kapenga Paul M
Bought by
Wells Fargo Bank Na

Purchase Details

Closed on
Jan 31, 2005
Sold by
Kapenga Paul M and Kapenga Julie
Bought by
P1 Properties Llc

Purchase Details

Closed on
Jan 16, 2003
Sold by
Jett Investments Llc
Bought by
Lowing Brian and Lowing Mary

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$93,100
Interest Rate
6.13%
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
Stephens Michael D $290,000 None Listed On Document
Fajardo Perla Cristina San $125,000 None Listed On Document
Fajardo Perla Cristina Sanchez -- Irongate Title Agency Llc
Sanchez Perla -- None Available
Sanchez Perla -- None Listed On Document
Lopez Yhoel Pena -- Attorney
Bluemax Properties Llc $38,000 Chicago Title
Farmer & Away Ventures Llc $22,000 Attorneys Title Agency Llc
Fannie Mae -- None Available
Wells Fargo Bank Na $94,996 None Available
P1 Properties Llc -- --
Lowing Brian -- --
Kapenga Paul M $133,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Stephens Michael D $217,500
Previous Owner Kapenga Paul M $93,100
Closed Kapenga Paul M $26,600
Closed Fajardo Perla Cristina Sanchez $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/20/2022 01/20/22 Sold $290,000 0.0% --
11/13/2021 11/13/21 Pending -- -- --
11/11/2021 11/11/21 For Sale $290,000 -- --
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 $5,783 $136,300 $0 $0
2024 $5,783 $128,200 $0 $0
2023 $5,662 $110,400 $0 $0
2022 $2,581 $89,700 $0 $0
2021 $2,514 $79,200 $0 $0
2020 $2,430 $72,200 $0 $0
2019 $2,563 $63,900 $0 $0
2018 $3,095 $48,500 $0 $0
2017 $2,353 $38,800 $0 $0
2016 $1,848 $35,100 $0 $0
2015 $1,761 $35,100 $0 $0
2013 -- $33,200 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2022

    Brian Timm

    Best Homes of Michigan Allegan

    (616) 299-2966

    2 in this area

    68 Total Sales

    Brian Timm
    Section Image

  • A

    Buyer's Agent in 2022

    Allison Koetsier

    Compass Realty Services

    (616) 633-9445

    15 in this area

    127 Total Sales

    Allison Koetsier
    Section Image
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 21114763

Southwestern Michigan Association of REALTORS®

APN: 41-13-23-453-023

Michigan Kent County Grand Rapids 49504 West Grand

553 Lane Ave NW Unit 3, Grand Rapids, MI

This home is located at 553 Lane Ave NW Unit 3, Grand Rapids, MI 49504 since 11 November 2021 and is currently estimated at $295,623. This property was built in 1890. 553 Lane Ave NW Unit 3 is a home located in Kent County with nearby schools including Stocking Elementary, Westwood 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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