NOT LISTED FOR SALE

701 N Walnut St Lansing, MI 48906

Old Forest Neighborhood

Estimated Value: $144,000 - $181,000

-- Bed
-- Bath
2,467 Sq Ft
$65/Sq Ft Est. Value

Last Sold October 20, 2020

Last sale price $83,000 $34 Per Sq Ft

Est. 94% increase in value since last sale

Current estimated payment $1,003/month

57 Days on Market

Highlights

  • Covered Patio or Porch
  • Hot Water Heating System
  • 4-minute walk to Durant Park

About This Home

As of October 2020

Excellent investment opportunity in Lansing, MI! This 3-unit rental consists of a 3 bed/1 bath unit and two 1 bed/1 bath units/ Gross rents at $2,075/month. 11% Cap Rate in 2019, 24 hour notice. Seller is a licensed real estate salesperson in the state of Michigan

Last Agent to Sell the Property

Robert Glennon

Keller Williams Realty Lansing License #6506046753 Listed on: 08/20/2020

Keller Williams Realty Lansing

Last Buyer's Agent

Rayce O'Connell

RE/MAX Real Estate Professionals License #6501415604

RE/MAX Real Estate Professionals

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1878

Lot Details

  • 2,875 Sq Ft Lot
  • Lot Dimensions are 40x72

Home Design

  • Shingle Roof
  • Vinyl Siding

Interior Spaces

  • 2,467 Sq Ft Home
  • 2-Story Property
  • Basement Fills Entire Space Under The House

Parking

  • 3 Parking Spaces
  • Gravel Driveway

Outdoor Features

  • Covered Patio or Porch

Utilities

  • Heating System Uses Natural Gas
  • Hot Water Heating System
  • Gas Water Heater

Listing and Financial Details

  • Total Actual Rent $24,900

Community Details

Overview

  • 3 Units

Building Details

  • Insurance Expense $656
  • Maintenance Expense $652
  • Manager Expense $2,150
  • Other Expense $2,490
  • Water Sewer Expense $2,694
  • New Taxes Expense $3,477
  • Operating Expense $9,331
  • Net Operating Income $11,039

Property Details

Home Type

Multi-Family

Year Built

Built in 1878

Lot Details

0

Listing Details

  • Gross Rent: 24900.0
  • Less Fuel: 1724.0
  • Miscellaneous: 2490.0
  • Net Income: 11038.73
  • Total Expense: 9331.27
  • Water Sewer Expenses: 2694.33
  • Misc Business Info Construction Type: Wood Frame
  • Misc Business Info Parking Surface: Cement/Gravel
  • Misc Business Info Roof Type: Asphalt
  • Tax Year: 2019
  • Misc Business Info Overall Building Siz: 2467
  • Levels: Two
  • Year Built: 1878
  • Lot Size Acres: 0.07
  • Lot Size: 40x72
  • Subdivision Name: None
  • Above Grade Finished Sq Ft: 2467.0
  • General Property Info:Lot Size Dimensions: 40x72
  • General Property Info:Above Grade Finished Area: 2467.0
  • Levels:Two2: Yes
  • Sewer:Public Sewer: Yes
  • Roof:Shingle: Yes
  • Exterior:Vinyl Siding: Yes
  • Heating Other2: Yes
  • Tax Info:Taxes2: 3476.94
  • Tax Info:Zoning3: Multi-Family
  • Water Heater:Gas Water Heater2: Yes
  • General Property Info:Building 1 Description: Residential Building
  • General Property Info:_pound_ of Units: 3
  • Annual Inc Expense:Insurance4: 656.0
  • Annual Inc Expense:Tax Expense2: 3476.94
  • Annual Inc Expense:Maintenance3: 652.0
  • Annual Inc Expense:Management3: 2150.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Heating: Hot Water, Natural Gas, Other
  • Property Type: Resid/Multi-Family
  • Full Basement: Yes

Exterior Features

  • Roof: Shingle
  • Patio And Porch Features: Covered
  • Construction Type: Vinyl Siding
  • Patio Porch Features:Covered: Yes

Garage/Parking

  • Parking Features: Gravel
  • Attached Garage: No
  • Parking Features:Gravel2: Yes
  • Misc Business Info:_pound_ Parking: 3
  • General Property Info:Parking Total: 3

Utilities

  • Sewer: Public Sewer
  • Water Source: Public
  • Heating Yn: Yes
  • Heating:Natural Gas: Yes
  • Heating:Hot Water: Yes

Schools

  • Junior High Dist: Lansing

Lot Info

  • Lot Size Sq Ft: 2874.96
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Carrier Route: 5108

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 20, 2020
Closed on
Oct 19, 2020
Sold by
Torres Gilbert and Torres Betty
Bought by
Pathania Nischal
Seller's Agent
Robert Glennon
Keller Williams Realty Lansing
Buyer's Agent
Rayce O'Connell
RE/MAX Real Estate Professionals
List Price
$99,900
Sold Price
$83,000
Premium/Discount to List
-$16,900
-16.92%
Current Estimated Value
$160,625

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$77,625
Avg. Annual Appreciation
13.71%
Original Mortgage
$66,000
Outstanding Balance
$47,334
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$113,291

Purchase Details

Closed on
Aug 16, 2019
Sold by
The Cook Family Trust
Bought by
Torres Gilbert and Torres Betty

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$59,000
Interest Rate
3.7%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 18, 2014
Sold by
Cook Richard C and Cook Maureen
Bought by
The Cook Family Trust
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
Pathania Nischal $83,000 Ata National Title Group Llc
Torres Gilbert $65,000 Ata National Title Group Llc
The Cook Family Trust -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Pathania Nischal $66,000
Previous Owner Torres Gilbert $59,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/20/2020 10/20/20 Sold $83,000 -16.9% $34 / Sq Ft
10/16/2020 10/16/20 Pending -- -- --
08/20/2020 08/20/20 For Sale $99,900 -- $40 / Sq Ft
Source: Greater Lansing 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 $5,777 $86,700 $2,600 $84,100
2024 $40 $78,400 $2,600 $75,800
2023 $4,709 $63,000 $2,600 $60,400
2022 $5,093 $56,000 $3,000 $53,000
2021 $4,211 $50,200 $4,600 $45,600
2020 $3,534 $45,000 $4,600 $40,400
2019 $6,011 $43,000 $4,600 $38,400
2018 $3,237 $39,000 $4,600 $34,400
2017 $3,579 $39,000 $4,600 $34,400
2016 $2,565 $38,300 $4,600 $33,700
2015 $2,565 $36,900 $9,248 $27,652
2014 $2,565 $35,000 $12,250 $22,750
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2020

    Robert Glennon

    Keller Williams Realty Lansing

    (517) 485-3523

    36 Total Sales

    Robert Glennon
    Section Image

  • R

    Buyer's Agent in 2020

    Rayce O'Connell

    RE/MAX Michigan

    (248) 563-4234

    1 in this area

    185 Total Sales

    Rayce O'Connell
    Section Image
See All Agents

Map

Source: Greater Lansing Association of Realtors®

MLS Number: 248702

Greater Lansing Association of Realtors®

APN: 01-01-09-364-131

Michigan Ingham County Lansing 48906 Old Forest

701 N Walnut St, Lansing, MI

Not Listed for Sale

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.

Greater Lansing Association of Realtors® IDX information is provided exclusively for Consumers'
personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.
Copyright © 2025 Greater Lansing Association of REALTORS®

Nearby Homes