NOT LISTED FOR SALE

725 Lafayette Ave NE Grand Rapids, MI 49503

Belknap Lookout Neighborhood

Estimated Value: $214,000 - $236,266

-- Bed
-- Bath
-- Sq Ft
6,050 Sq Ft Lot

Last Sold September 09, 2024

Last sale price $200,000

Est. 12% increase in value since last sale

Current estimated payment $1,311/month

123 Days on Market

Highlights

  • 1 Fireplace
  • Space Heater
  • Level Lot
  • Hot Water Heating System
  • High Speed Internet
  • 4-minute walk to Coit Park

About This Home

As of September 2024

Wow!! Cash flowing investment property for under 250k! 2 Units. Unit 1: Upper: 2 bedroom, 1 bath, current rent is $1,200 per month. Unit: 2 Lower: 2 bedrooms, 1 bath current rent is $1,500 per month. Total rents are $2,700 per month!! Off-Street parking off alley. property is located near major bus routes. Walking distance to Coit Arts Academy, Medical Mile, Downtown GR, and Colleges. Tenant's rights apply. 24 hour notice for showings required. Pre approval or proof of funds required by seller before any showings are approved. Seller has 2 other 2 family units for sale as well. MLS 24015903 & MLS 24015981.

Last Agent to Sell the Property

David Van Dam

Five Star Real Estate (Grandv) Listed on: 04/28/2024

Five Star Real Estate (Grandv)

Last Buyer's Agent

Jason Post

Five Star Real Estate (Rock) License #6501413422

Five Star Real Estate (Rock)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,509

Year Built

  • Built in 1890

Lot Details

  • 6,050 Sq Ft Lot
  • Lot Dimensions are 50' x 121'
  • Level Lot

Parking

  • 4 Parking Spaces

Home Design

  • Composition Roof
  • Shingle Siding

Interior Spaces

  • 1 Fireplace
  • Basement
  • Michigan Basement

Utilities

  • Space Heater
  • Heating System Uses Natural Gas
  • Hot Water Heating System
  • Individual Gas Meter
  • High Speed Internet
  • Cable TV Available

Community Details

  • 2 Units

Listing and Financial Details

  • Tenant pays for electric, trash collection, gas
  • The owner pays for water

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,509

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
  • Location Property Info:Property Sub-Type: 2 to 4 Units
  • General Property Info:New Construction2: No
  • General Property Info:Lot Dimensions: 50' x 121'
  • General Property Info:Waterfront3: No
  • General Property Info:Basement: Yes
  • Tax Info:Annual Property Tax: 1509.0
  • Tax Info:Zoning3: multi family
  • Waterfront Options:Water Access YN: No
  • General Property Info:Total _pound_ Units: 2
  • General Property Info:Total _pound_ Bldgs: 1.0
  • Roofing:Composition: 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:Broadband: Yes
  • Util Avail at Street:Cable2: Yes
  • Heat Type:Hot Water: Yes
  • Substructure:Michigan Basement: Yes
  • Extras:Sep Gas Meter: Yes
  • Heat Type:Space Heater: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplaces: 1
  • Basement: Michigan Basement
  • Basement: Yes

Exterior Features

  • Construction Materials: Shingle Siding
  • List Price: 225000.0
  • Lot Features: Level, Sidewalk
  • Number of Buildings: 1
  • Road Surface Type: Paved
  • Roof: Composition
  • Waterfront: No
  • Access Feat:Accessibility Features2: No
  • Exterior Material:Shingle Siding: Yes

Garage/Parking

  • Total Parking Spaces: 4.0
  • General Property Info:Total Parking Spaces: 4.0

Utilities

  • Heating: Hot Water, Space Heater
  • Heating: Yes
  • Sewer: Public Sewer
  • Utilities: Water Available, Sewer Available, Natural Gas Available, Electricity Available, Cable Available, Natural Gas Connected, Electricity Connected, Storm Sewer, Broadband
  • Heat Source:Electric2: Yes

Lot Info

  • Lot Size Acres: 0.14
  • Lot Size Area: 0.14
  • Lot Dimensions: 50' x 121'
  • Lot Size Sq Ft: 6050.0
  • Zoning Description: multi family
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Water
  • Tenant Pays: Electric, Trash Collection, Gas

Multi Family

  • Number of Units Total: 2

Tax Info

  • Tax Annual Amount: 1509.0
  • Tax Year: 2024

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 28, 2024
Closed on
Sep 9, 2024
Sold by
A-7 Property No 3 Llc
Bought by
Dgs Properties Llc
Seller's Agent
David Van Dam
Five Star Real Estate (Grandv)
Buyer's Agent
Jason Post
Five Star Real Estate (Rock)
List Price
$225,000
Sold Price
$200,000
Premium/Discount to List
-$25,000
-11.11%
Views
59
Current Estimated Value
$223,817

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$23,817
Avg. Annual Appreciation
11.31%
Original Mortgage
$160,000
Outstanding Balance
$158,201
Interest Rate
6.47%
Mortgage Type
New Conventional
Estimated Equity
$65,616

Purchase Details

Closed on
Mar 24, 2005
Sold by
A-7 Property Management Llc
Bought by
A-7 Property #3 Llc

Purchase Details

Closed on
May 28, 2003
Sold by
Hintz Roger D and Hintz Joyce G
Bought by
A-7 Property Management Llc

Purchase Details

Closed on
Feb 21, 1980
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
Dgs Properties Llc $200,000 Ata National Title
A-7 Property #3 Llc -- --
A-7 Property Management Llc -- --
-- $18,900 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Dgs Properties Llc $160,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/09/2024 09/09/24 Sold $200,000 -11.1% --
08/05/2024 08/05/24 Pending -- -- --
04/28/2024 04/28/24 For Sale $225,000 0.0% --
04/19/2024 04/19/24 Pending -- -- --
04/04/2024 04/04/24 For Sale $225,000 -- --
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 $1,502 $102,900 $0 $0
2024 $1,502 $96,500 $0 $0
2023 $1,435 $88,300 $0 $0
2022 $1,416 $80,300 $0 $0
2021 $1,379 $72,100 $0 $0
2020 $1,333 $64,800 $0 $0
2019 $1,365 $58,300 $0 $0
2018 $1,323 $49,700 $0 $0
2017 $1,291 $43,900 $0 $0
2016 $1,297 $34,100 $0 $0
2015 $1,236 $34,100 $0 $0
2013 -- $26,900 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • David Van Dam

    Seller's Agent in 2024

    David Van Dam

    Five Star Real Estate (Grandv)

    (616) 890-8011

    2 in this area

    106 Total Sales

    David Van Dam
    Section Image

  • J

    Buyer's Agent in 2024

    Jason Post

    Five Star Real Estate (Rock)

    (616) 951-2123

    1 in this area

    67 Total Sales

    Jason Post
    Section Image
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 24015907

Southwestern Michigan Association of REALTORS®

APN: 41-14-19-327-033

Michigan Kent County Grand Rapids 49503 Belknap Lookout

725 Lafayette Ave NE, Grand Rapids, MI

This home is located at 725 Lafayette Ave NE, Grand Rapids, MI 49503 since 28 April 2024 and is currently estimated at $223,817. This property was built in 1890. 725 Lafayette Ave NE is a home located in Kent County with nearby schools including Coit Creative Arts Academy, Riverside 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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