NOT LISTED FOR SALE

915 Madison St # &917 Lapeer, MI 48446

Estimated Value: $193,098 - $271,000

4 Beds
2 Baths
1,650 Sq Ft
$137/Sq Ft Est. Value

Last Sold February 05, 2021

Last sale price $150,000 $91 Per Sq Ft

Est. 51% increase in value since last sale

Current estimated payment $1,495/month

93 Days on Market

Highlights

  • Colonial Architecture
  • Forced Air Heating System
  • Cats Allowed
  • Covered Patio or Porch
  • Ceiling Fan
  • High Speed Internet

About This Home

As of February 2021

Attention investors looking for an income property. This multifamily home is on the market for the first time in 20 years. Both units are leased with tenants that would like to stay. Roof, windows and furnace have been replaced, as well as, cosmetic updates in both units. One car garage is not in use by either tenant. Excellent location close to downtown, shopping, dining and expressway.

Last Agent to Sell the Property

Alicia Cloutier

EXP Realty Rochester License #6501328260 Listed on: 09/22/2020

EXP Realty Rochester

Last Buyer's Agent

James Lorch

Coldwell Banker Professionals License #6501410699

Coldwell Banker Professionals

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1935

Lot Details

  • 10,019 Sq Ft Lot
  • Lot Dimensions are 50x100

Parking

  • On-Street Parking

Home Design

  • Colonial Architecture
  • Block Foundation
  • Asphalt Roof
  • Vinyl Construction Material

Interior Spaces

  • 2 Full Bathrooms
  • 1,650 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan

Basement

  • Basement Fills Entire Space Under The House
  • Basement Storage

Outdoor Features

  • Covered Patio or Porch

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Natural Gas Water Heater
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number L204160004000

Community Details

Overview

  • 2 Units
  • City Of Lapeer R Original Plat Subdivision

Pet Policy

  • Cats Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,971

Year Built

Built in 1935

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Colonial
  • Architecture Level: 2 Story
  • Year Built: 1935
  • State Equalized Value: 56500.0000
  • Pets Allowed: Cats OK
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Interior Amenities: Cable Available, High Spd Internet Avail
  • Total Bathrooms: 2.00
  • Full Bathrooms: 2
  • Basement: Yes
  • Basement Type: Common, Private Storage Locker
  • Sq Ft Combined: 1650
  • Total Sq Ft: 1650
  • Sq Ft Total Bsmt: 728

Exterior Features

  • Roof Material: Asphalt
  • Foundation Details: Basement
  • Construction Materials: Vinyl
  • Exclusions: Yes
  • Exterior Features: Outside Lighting
  • Foundation Materials: Block
  • Frontage Feet: 50
  • Porch Type: Porch - Covered
  • Road Frontage Type: Paved

Garage/Parking

  • MF Parking: On Street

Utilities

  • Heating Fuel: Natural Gas
  • Cooling: Ceiling Fan(s)
  • Heating: Forced Air
  • Sewer: Sewer-Sanitary
  • Water Heater Fuel: Natural Gas
  • Water Source: Municipal Water
  • Laundry Facilities: No

Schools

  • School District: Lapeer

Lot Info

  • List Price per Acre: 673913.0435
  • Lot Size Area: 0.23
  • Lot Dimensions: 50x100
  • Parcel Number: L204160004000
  • Zone Conform: Yes
  • Zoning: Recreation

Rental Info

  • Rent Includes: Garbage Pickup, Heat, Water/Sewer
  • Legal Rental Certified: Yes
  • Monthly Rental Income: 18900

Tax Info

  • Tax Amount Summer: 824.0000
  • Tax Amount Winter: 1147.0000
  • Total Tax: 1971.0000
  • Taxable Value: 41815.0000

Multi Family

  • Gross Scheduled Income: 18900.00
  • Number Of Units Total: 2
  • Unit Count: 2
  • Number of Two Bedroom Units: 2
  • Number Of Units Leased: 2

MLS Schools

  • School District: Lapeer

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 23, 2021
Sold by
Gehman Andrew and Gehman Theresa
Bought by
Madison Blue Llc
Current Estimated Value
$226,775

Purchase Details

Listed on
Sep 22, 2020
Closed on
Feb 5, 2021
Sold by
Schlaud Michael J and Schlaud Pamela K
Bought by
Gehman Andrew and Gehman Theresa
Seller's Agent
Alicia Cloutier
EXP Realty Rochester
Buyer's Agent
James Lorch
Coldwell Banker Professionals
List Price
$155,000
Sold Price
$150,000
Premium/Discount to List
-$5,000
-3.23%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.27%
Original Mortgage
$112,500
Interest Rate
2.6%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 17, 1998
Sold by
Fisher Paul C and Fisher Shelly M
Bought by
Schlaud Michael J and Schlaud Pamela K

Purchase Details

Closed on
Jun 25, 1996
Sold by
Mcgathy Roy and Mcgathy Shelly M
Bought by
Fisher Paul C and Fisher Shelly M

Purchase Details

Closed on
Sep 1, 1989

Purchase Details

Closed on
Jun 25, 1969
Sold by
Mcgathy Roy and Mcgathy Shelly M
Bought by
Fisher Paul C and Fisher Shelly M
Source: Public Records

Range of Values:

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Average Value
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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
Madison Blue Llc -- Cislo Title Co
Gehman Andrew $150,000 None Available
Schlaud Michael J $124,000 --
Fisher Paul C -- --
-- $56,000 --
Fisher Paul C -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Gehman Andrew $112,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/05/2021 02/05/21 Sold $150,000 -3.2% $91 / Sq Ft
12/25/2020 12/25/20 Pending -- -- --
09/22/2020 09/22/20 For Sale $155,000 -- $94 / Sq Ft
Source: Realcomp

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 $3,521 $83,800 $0 $0
2024 $1,449 $80,400 $0 $0
2023 $1,382 $70,700 $0 $0
2022 $3,189 $67,100 $0 $0
2021 $1,999 $61,900 $0 $0
2020 $1,975 $61,700 $0 $0
2019 $1,972 $56,500 $0 $0
2018 $1,926 $53,300 $53,300 $0
2017 $1,887 $51,900 $0 $0
2016 $1,873 $44,000 $44,000 $0
2015 -- $40,900 $0 $0
2014 -- $38,900 $38,900 $0
2013 -- $38,400 $38,400 $0
Source: Public Records

Agents Affiliated with this Home

  • Alicia Cloutier

    Seller's Agent in 2021

    Alicia Cloutier

    EXP Realty Rochester

    (248) 891-2087

    6 in this area

    225 Total Sales

    Alicia Cloutier
    Section Image
  • James Lorch

    Buyer's Agent in 2021

    James Lorch

    Coldwell Banker Professionals

    (810) 614-0946

    7 in this area

    79 Total Sales

    James Lorch
    Section Image
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Map

Source: Realcomp

MLS Number: 2200075249

Realcomp

APN: L20-41-600-040-00

Michigan Lapeer County Lapeer 48446

915 Madison St # &917, Lapeer, MI

This home is located at 915 Madison St # &917, Lapeer, MI 48446 since 22 September 2020 and is currently estimated at $226,775, approximately $137 per square foot. This property was built in 1935. 915 Madison St # &917 is a home located in Lapeer County with nearby schools including C.K. Schickler Elementary School, Rolland-Warner Middle School, and Lapeer High School.

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Realcomp IDX provided courtesy of Realcomp II Ltd. via Ten-X and MLS
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IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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