Seller's Agent in 2024
Tammy Garling
KEY REALTY DELTA COUNTY LLC
(906) 280-1169
487 Total Sales
8196 Us Highway 2 Rapid River, MI 49878
Estimated Value: $270,683
7
Beds
7
Baths
2,456
Sq Ft
$110/Sq Ft
Est. Value
Highlights
- Ranch Style House
- 2 Car Detached Garage
- Hot Water Heating System
- Corner Lot
About This Home
As of May 2024Welcome to a fantastic investment opportunity in Rapid River – a 7-unit property ready to generate steady income for you. Currently, all units are rented out except for one, offering a reliable stream of rental income. The rental rates are favorable, and utilities, including cable, are conveniently included. This property boasts a strong rental history, ensuring a stable and lucrative investment for the future. Tenants can also enjoy a designated picnic area for added comfort and relaxation. Additionally, there's a 2-car detached garage available for personal use or as an additional rental opportunity, providing even more potential for income generation. The unit mix includes 6 studios and a spacious one-bedroom unit, catering to a diverse range of tenants. Numerous updates have been made throughout the years, enhancing the property's appeal and value. Most units are rented on a monthly basis, with some owners also accepting weekly rentals, maximizing occupancy rates. With a total monthly rent of $4624.00, this investment promises excellent returns. Don't miss out on this incredible opportunity to secure a profitable investment in Rapid River. Contact us today to learn more and seize the chance to add this gem to your portfolio.
Last Agent to Sell the Property
KEY REALTY DELTA COUNTY LLC License #UPAR Listed on: 04/11/2024
Property Details
Home Type
- Apartment
Est. Annual Taxes
Year Built
- Built in 1970
Lot Details
- 0.5 Acre Lot
- Lot Dimensions are 100x217
- Rural Setting
- Corner Lot
- Cleared Lot
Parking
- 2 Car Detached Garage
Home Design
- Ranch Style House
- Vinyl Siding
Bedrooms and Bathrooms
- 7 Bedrooms
- 7 Full Bathrooms
Utilities
- Hot Water Heating System
- Boiler Heating System
- Electric Water Heater
- Mound Septic
Additional Features
- Oven or Range
- Block Basement Construction
Community Details
- 7 Units
Listing and Financial Details
- Assessor Parcel Number 012-170-067-00
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Sep 6, 2022
Sold by
Depas James
Bought by
Northwoods Trust and Diedrich
Current Estimated Value
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Northwoods Trust | $192,000 | -- |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/28/2024 05/28/24 | Sold | $232,650 | 0.0% | $95 / Sq Ft |
| 04/11/2024 04/11/24 | For Sale | $232,650 | +72.3% | $95 / Sq Ft |
| 08/30/2021 08/30/21 | Sold | $135,000 | -18.2% | $75 / Sq Ft |
| 06/29/2021 06/29/21 | Pending | -- | -- | -- |
| 07/16/2020 07/16/20 | For Sale | $165,000 | -- | $92 / Sq Ft |
Source: Upper Peninsula 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 |
|---|---|---|---|---|
| 2025 | $1,579 | $70,400 | $0 | $0 |
| 2024 | $371 | $65,800 | $0 | $0 |
| 2023 | $354 | $31,800 | $0 | $0 |
| 2022 | $1,612 | $33,600 | $0 | $0 |
| 2021 | $1,294 | $32,400 | $0 | $0 |
| 2020 | $1,268 | $31,600 | $0 | $0 |
| 2019 | $1,229 | $26,700 | $0 | $0 |
| 2018 | $1,200 | $25,500 | $0 | $0 |
| 2017 | $286 | $25,788 | $0 | $0 |
| 2016 | $1,169 | $25,434 | $0 | $0 |
| 2014 | -- | $42,184 | $0 | $0 |
| 2013 | -- | $42,990 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
Map
Source: Upper Peninsula Association of REALTORS®
MLS Number: 50138477
APN: 21-012-170-067-00
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