642 Cornell Ave East Lansing, MI 48823
4
Beds
1
Bath
1,031
Sq Ft
5,401
Sq Ft Lot
Highlights
- Cape Cod Architecture
- Main Floor Primary Bedroom
- Shed
- Marble Elementary School Rated A-
- Living Room
- Forced Air Heating System
About This Home
As of February 2020This is a rare opportunity to purchase one home or an entire rental business within walking distance to Michigan State University. Now is your chance to take advantage of this incredible deal to purchase any number of this six house package which includes 539, 544, 554, 625 and 642 Cornell Ave and 616 Charles Street. This particular home is rented until July 31, 2019 at a rent rate of $2050 and currently has a rental license in good standing for 4 unrelated persons. The overall CAP rate for the package is slightly higher than 8%. All properties are within walking distance to campus and downtown East Lansing. These houses have had 100% occupancy since 2011, have been professionally managed, and have received lots of upgrades to roofs, bathrooms and furnaces. These homes would be well suited for a new or existing landlord or standalone as owner occupied. Call or text Rob for more details
Last Agent to Sell the Property
White Pine Sotheby's International Realty License #6506044394 Listed on: 10/01/2018
Last Buyer's Agent
Rob Buffington
Berkshire Hathaway HomeServices License #6506044394
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $5,089
Year Built
- Built in 1941
Lot Details
- 5,401 Sq Ft Lot
- Lot Dimensions are 40x135
Parking
- No Garage
Home Design
- Cape Cod Architecture
- Vinyl Siding
Interior Spaces
- 1,031 Sq Ft Home
- Living Room
- Dining Room
- Crawl Space
- Range
Bedrooms and Bathrooms
- 4 Bedrooms
- Primary Bedroom on Main
- 1 Full Bathroom
Laundry
- Dryer
- Washer
Outdoor Features
- Shed
Utilities
- Forced Air Heating System
- Heating System Uses Natural Gas
- Gas Water Heater
Community Details
- Avondale Subdivision
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Dec 3, 2019
Closed on
Feb 28, 2020
Sold by
Parent Scott D and Bulick David V
Bought by
Pesta Carl M and Pesta Lori
Seller's Agent
Troy Seyfert
Berkshire Hathaway HomeServices
Buyer's Agent
Non Member
Non Member Office
List Price
$259,900
Sold Price
$249,750
Premium/Discount to List
-$10,150
-3.91%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$16,590
Avg. Annual Appreciation
1.38%
Original Mortgage
$193,600
Outstanding Balance
$173,592
Interest Rate
3.6%
Mortgage Type
New Conventional
Estimated Equity
$95,477
Purchase Details
Listed on
Oct 1, 2018
Closed on
Nov 20, 2018
Sold by
Elm Holding Ocmpany Llc
Bought by
Parent Scott D and Bulick David V
Seller's Agent
Rob Buffington
White Pine Sotheby's International Realty
Buyer's Agent
Rob Buffington
White Pine Sotheby's International Realty
List Price
$239,000
Sold Price
$241,000
Premium/Discount to List
$2,000
0.84%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.85%
Original Mortgage
$192,800
Interest Rate
4.8%
Mortgage Type
New Conventional
Purchase Details
Closed on
Sep 4, 2013
Sold by
Kl Holding Ii Llc
Bought by
Elm Holding Company Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$0
Interest Rate
4.39%
Mortgage Type
Commercial
Purchase Details
Closed on
Dec 23, 2002
Sold by
Lyons David
Bought by
Kl Holdings Ii Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$102,600
Interest Rate
5.71%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Nov 1, 2002
Sold by
Lyons Thomas R and Lyons Mary Anne
Bought by
Lyons David
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$102,600
Interest Rate
5.71%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
May 1, 1996
Purchase Details
Closed on
Jul 1, 1991
Purchase Details
Closed on
Nov 1, 1983
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $249,750 | None Available | |
| Warranty Deed | $241,000 | Tri Title Agency Llc | |
| Warranty Deed | $118,000 | None Available | |
| Warranty Deed | $129,000 | Chicago Title Of Michigan In | |
| Interfamily Deed Transfer | -- | Chicago Title | |
| Deed | $73,000 | -- | |
| Deed | $57,000 | -- | |
| Deed | $36,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $193,600 | New Conventional | |
| Previous Owner | $192,800 | New Conventional | |
| Previous Owner | $0 | Commercial | |
| Previous Owner | $102,600 | Purchase Money Mortgage | |
| Previous Owner | $72,500 | Unknown | |
| Closed | $0 | Commercial |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/28/2020 02/28/20 | Sold | $249,750 | -3.9% | $242 / Sq Ft |
| 01/23/2020 01/23/20 | Pending | -- | -- | -- |
| 12/03/2019 12/03/19 | For Sale | $259,900 | +7.8% | $252 / Sq Ft |
| 11/20/2018 11/20/18 | Sold | $241,000 | +0.8% | $234 / Sq Ft |
| 10/23/2018 10/23/18 | Pending | -- | -- | -- |
| 10/01/2018 10/01/18 | For Sale | $239,000 | 0.0% | $232 / Sq Ft |
| 08/21/2018 08/21/18 | Pending | -- | -- | -- |
| 08/06/2018 08/06/18 | For Sale | $239,000 | -- | $232 / Sq Ft |
Source: Greater Lansing Association of Realtors®
Tax History Compared to Growth
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 | $71 | $123,000 | $16,400 | $106,600 |
| 2023 | $7,651 | $112,200 | $14,500 | $97,700 |
| 2022 | $7,319 | $99,300 | $13,100 | $86,200 |
| 2021 | $7,202 | $96,600 | $11,600 | $85,000 |
| 2020 | $5,467 | $96,600 | $11,900 | $84,700 |
| 2019 | $5,273 | $71,800 | $13,500 | $58,300 |
| 2018 | $5,275 | $69,700 | $12,900 | $56,800 |
| 2017 | $5,089 | $69,000 | $14,600 | $54,400 |
| 2016 | -- | $69,000 | $14,500 | $54,500 |
| 2015 | -- | $63,800 | $28,000 | $35,800 |
| 2014 | -- | $63,800 | $27,800 | $36,000 |
Source: Public Records
Agents Affiliated with this Home
-
T
Seller's Agent in 2020
Troy Seyfert
Berkshire Hathaway HomeServices
-
N
Buyer's Agent in 2020
Non Member
Non Member Office
-
Seller's Agent in 2018
Rob Buffington
White Pine Sotheby's International Realty
(517) 862-5777
40 in this area
189 Total Sales
Map
Source: Greater Lansing Association of Realtors®
MLS Number: 229184
APN: 20-02-18-204-019
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