NOT LISTED FOR SALE

821 N Chestnut St Lansing, MI 48906

Old Forest Neighborhood

Estimated Value: $154,000 - $214,000

-- Bed
2 Baths
2,434 Sq Ft
$77/Sq Ft Est. Value

Last Sold November 22, 2019

Last sale price $120,000 $49 Per Sq Ft

Est. 57% increase in value since last sale

Current estimated payment $1,413/month

12 Days on Market

About This Home

As of November 2019

Fully rented with good rent rolls. Well maintained units and building. One long-term month to month tenant. Other 2 units are leased. Plenty of off-street parking. Improvements of over $11,000 in past 2 years. Details of cash flow available upon request.

Last Agent to Sell the Property

Kathy Birchen

Berkshire Hathaway HomeServices License #6506015266 Listed on: 10/31/2019

Berkshire Hathaway HomeServices

Co-Listed By

Birchen Dutcher

Berkshire Hathaway HomeServices

Last Buyer's Agent

Senada Pargan

Century 21 Affiliated License #6501403672

Century 21 Affiliated

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1875

Lot Details

  • 0.25 Acre Lot
  • Lot Dimensions are 66x165

Home Design

  • Shingle Roof
  • Vinyl Siding

Interior Spaces

  • 2,434 Sq Ft Home
  • 2-Story Property
  • Crawl Space
  • Fire and Smoke Detector

Parking

  • 6 Parking Spaces
  • Private Parking

Utilities

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

Listing and Financial Details

  • Total Actual Rent $24,900

Community Details

Overview

  • 3 Units

Building Details

  • Electric Expense $2,097
  • Insurance Expense $1,250
  • Maintenance Expense $1,800
  • Other Expense $1,916
  • New Taxes Expense $3,744
  • Operating Expense $10,807
  • Net Operating Income $14,093

Property Details

Home Type

Multi-Family

Year Built

Built in 1875

Lot Details

0

Listing Details

  • Gross Rent: 24900.0
  • Miscellaneous: 1916.0
  • Net Income: 14093.0
  • Total Expense: 10807.0
  • Tax Year: 2018
  • Levels: Two
  • Year Built: 1875
  • Lot Size Acres: 0.25
  • Lot Size: 66x165
  • Co List Office Mls Id: 340
  • Co List Office Phone: 517-351-3617
  • Subdivision Name: None
  • Above Grade Finished Sq Ft: 2434.0
  • General Property Info:Lot Size Dimensions: 66x165
  • General Property Info:Above Grade Finished Area: 2434.0
  • Levels:Two2: Yes
  • Sewer:Public Sewer: Yes
  • Roof:Shingle: Yes
  • Security Features:Smoke Detector(s): Yes
  • Exterior:Vinyl Siding: Yes
  • Tax Info:Taxes2: 3743.69
  • Tax Info:Zoning3: Multi-Family
  • General Property Info:Building 1 Description: Multi-Family
  • General Property Info:_pound_ of Units: 3
  • Water Heater:Electric Water Heater2: Yes
  • Annual Inc Expense:Insurance4: 1250.0
  • Annual Inc Expense:Tax Expense2: 3743.69
  • Annual Inc Expense:Maintenance3: 1800.0
  • Annual Inc Expense:Electricity5: 2097.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

  • Roof: Shingle
  • Construction Type: Vinyl Siding

Garage/Parking

  • Parking Features: Asphalt, Private
  • Attached Garage: No
  • Parking Features:Asphalt2: Yes
  • Parking Features:Private6: Yes
  • Misc Business Info:_pound_ Parking: 6
  • General Property Info:Parking Total: 6

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: 10890.0
  • ResoLotSizeUnits: Acres

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 27, 2023
Sold by
Jackson Arielle Alman and Jackson Brian Thomas
Bought by
Ehj Properties Llc
Current Estimated Value
$187,990

Purchase Details

Listed on
Oct 31, 2019
Closed on
Nov 20, 2019
Sold by
Gersz David J
Bought by
Jackson Arielle Alman and Jackson Brian Thomas
Seller's Agent
Kathy Birchen
Berkshire Hathaway HomeServices
Buyer's Agent
Senada Pargan
Century 21 Affiliated
List Price
$135,000
Sold Price
$120,000
Premium/Discount to List
-$15,000
-11.11%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.70%

Purchase Details

Closed on
Aug 28, 2017
Sold by
Pechar Nancy
Bought by
Gersz David J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$71,250
Interest Rate
3.92%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 18, 2002
Sold by
Sabin Brent H and Sabin Mary E
Bought by
Pechar Nancy

Purchase Details

Closed on
Apr 4, 2002
Sold by
M & D Company
Bought by
Sabin Brent H and Driver Linn B
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Ehj Properties Llc -- --
Jackson Arielle Alman $120,000 Title Resource Agency
Gersz David J $95,000 None Available
Pechar Nancy $110,000 --
Sabin Brent H $78,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Gersz David J $71,250
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/22/2019 11/22/19 Sold $120,000 -11.1% $49 / Sq Ft
11/12/2019 11/12/19 Pending -- -- --
10/31/2019 10/31/19 For Sale $135,000 -- $55 / 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 $5,127 $95,400 $6,600 $88,800
2024 $41 $86,700 $6,600 $80,100
2023 $4,831 $70,400 $6,600 $63,800
2022 $4,421 $63,500 $7,400 $56,100
2021 $4,319 $56,300 $8,300 $48,000
2020 $4,288 $50,900 $8,300 $42,600
2019 $3,940 $48,800 $8,300 $40,500
2018 $3,744 $44,700 $8,300 $36,400
2017 $3,270 $44,700 $8,300 $36,400
2016 $3,140 $43,900 $8,300 $35,600
2015 $3,140 $42,500 $16,500 $26,000
2014 $3,140 $39,700 $18,250 $21,450
Source: Public Records

Agents Affiliated with this Home

  • K

    Seller's Agent in 2019

    Kathy Birchen

    Berkshire Hathaway HomeServices

    Section Image

  • B

    Seller Co-Listing Agent in 2019

    Birchen Dutcher

    Berkshire Hathaway HomeServices

  • Senada Pargan

    Buyer's Agent in 2019

    Senada Pargan

    Century 21 Affiliated

    (517) 505-3296

    27 Total Sales

    Senada Pargan
    Section Image
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Map

Source: Greater Lansing Association of Realtors®

MLS Number: 242208

Greater Lansing Association of Realtors®

APN: 01-01-09-360-171

Michigan Ingham County Lansing 48906 Old Forest

821 N Chestnut St, Lansing, MI

Not Listed for Sale

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