Seller's Agent in 2024
Ryan Fagin
Real Broker LLC
(517) 643-5498
2 in this area
49 Total Sales
9317 Main St Whitmore Lake, MI 48189
4
Beds
4
Baths
1,710
Sq Ft
0.42
Acres
Highlights
- 20 Feet of Waterfront
- Porch
- Forced Air Heating and Cooling System
- Ranch Style House
- Accessible Entrance
- Ceiling Fan
About This Home
As of December 2024Welcome to 9317 Main Street, located in the heart of downtown Whitmore Lake. This fully renovated multifamily property presents an outstanding investment opportunity. The property consists of four one-bedroom, one-bathroom units, three of which are already operating as highly profitable Airbnb rentals. The fourth unit is leased long-term but is set to transition to a short-term rental after the lease expires in May, bringing the projected annual gross income to over $101,000. This investment offers a strong current cap rate of 9.6%, which will increase to 12.1% once all units are fully utilized as short-term rentals. The property’s prime location provides guests with easy deeded across the road to Whitmore Lake, an all-sports lake spanning 667 acres. The lake is a major draw for Airbnb guests, ensuring near 100% occupancy on summer weekends with an average nightly rental rate of $117. The property has undergone extensive renovations the past few years, including new roofs, windows, doors, electrical systems, and plumbing, along with updated heating and cooling systems. All four units have been fully remodeled with modern interiors, including new drywall, flooring, kitchens, and bathrooms, ensuring a turnkey investment for the new owner. The units are fully furnished, with the option to purchase the furnishings with the sale. With 12 parking spaces, tenants have ample convenience, and the property is within walking distance of local shops, restaurants, and a marina where boat rentals are available. Currently self-managed via Airbnb, the property allows flexibility for investors to continue with this model. Zoned for multifamily residential use with potential for commercial applications, this property offers both a stable income stream and future growth opportunities.
Last Agent to Sell the Property
Real Broker LLC License #6501408361 Listed on: 09/19/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
Year Built
- Built in 1927 | Remodeled in 2020
Lot Details
- 0.42 Acre Lot
- Lot Dimensions are 182x101
- 20 Feet of Waterfront
- Lake Front
- Fenced
Parking
- 12 Parking Spaces
Home Design
- Ranch Style House
- Log Cabin
- Slab Foundation
- Asphalt Roof
- Log Siding
Interior Spaces
- 4 Full Bathrooms
- 1,710 Sq Ft Home
- Ceiling Fan
Accessible Home Design
- Accessible Entrance
Outdoor Features
- Shared Waterfront
- Porch
Utilities
- Forced Air Heating and Cooling System
- Cooling System Mounted In Outer Wall Opening
- Back Up Electric Heat Pump System
- Heating System Uses Natural Gas
- Natural Gas Water Heater
- Sewer in Street
Listing and Financial Details
- Assessor Parcel Number B00205328023
Community Details
Overview
- 4 Units
Recreation
- Water Sports
Pet Policy
- Pets Allowed
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 19, 2024
Closed on
Dec 27, 2024
Sold by
Brady Henry and Brady Anna Russell
Bought by
Russell Henry Holdings Llc
Seller's Agent
Ryan Fagin
Real Broker LLC
Buyer's Agent
Scott Griffith
Griffith Realty
List Price
$625,000
Sold Price
$546,000
Premium/Discount to List
-$79,000
-12.64%
Views
90
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$8,220
Avg. Annual Appreciation
2.04%
Purchase Details
Listed on
Sep 19, 2024
Closed on
Dec 4, 2024
Sold by
Greenough Nathan
Bought by
Brady Henry and Brady Anna Russell
Seller's Agent
Ryan Fagin
Real Broker LLC
Buyer's Agent
Scott Griffith
Griffith Realty
List Price
$625,000
Sold Price
$546,000
Premium/Discount to List
-$79,000
-12.64%
Views
90
Purchase Details
Listed on
Jul 13, 2017
Closed on
Jan 31, 2018
Sold by
Kosmo Metz Katherine
Bought by
Greenough Nathan
Seller's Agent
Renee DeKroub
RE/MAX Platinum
Buyer's Agent
Laura Ford
List Price
$199,900
Sold Price
$101,000
Premium/Discount to List
-$98,900
-49.47%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
27.93%
Purchase Details
Closed on
Jun 15, 2015
Sold by
Goodman Michael R
Bought by
Kosmo Metz Katherine
Purchase Details
Closed on
Mar 25, 2013
Sold by
Rowland Joan A
Bought by
Goodman Michael R and Joan A Rowland Sole Benefit Trust
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
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | Alliance Title | |
| Warranty Deed | $546,000 | Alliance Title | |
| Warranty Deed | $101,000 | Select Title Co | |
| Warranty Deed | $295,000 | None Available | |
| Warranty Deed | -- | None Available |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/05/2024 12/05/24 | Sold | $546,000 | -9.0% | $319 / Sq Ft |
| 11/19/2024 11/19/24 | Pending | -- | -- | -- |
| 10/29/2024 10/29/24 | Price Changed | $599,900 | -4.0% | $351 / Sq Ft |
| 09/19/2024 09/19/24 | For Sale | $625,000 | +518.8% | $365 / Sq Ft |
| 01/31/2018 01/31/18 | Sold | $101,000 | +1.0% | $63 / Sq Ft |
| 08/28/2017 08/28/17 | Pending | -- | -- | -- |
| 08/24/2017 08/24/17 | Price Changed | $100,000 | -33.3% | $63 / Sq Ft |
| 08/09/2017 08/09/17 | Price Changed | $150,000 | -25.0% | $94 / Sq Ft |
| 08/08/2017 08/08/17 | For Sale | $199,900 | +97.9% | $125 / Sq Ft |
| 08/08/2017 08/08/17 | Off Market | $101,000 | -- | -- |
| 07/13/2017 07/13/17 | For Sale | $199,900 | -- | $125 / Sq Ft |
Source: Realcomp
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 | $1,479 | $84,800 | $0 | $0 |
| 2024 | $840 | $81,500 | $0 | $0 |
| 2023 | $800 | $79,500 | $0 | $0 |
| 2022 | $4,334 | $75,900 | $0 | $0 |
| 2021 | $4,223 | $74,500 | $0 | $0 |
| 2020 | $4,178 | $69,800 | $0 | $0 |
| 2019 | $4,087 | $68,300 | $68,300 | $0 |
| 2018 | $3,989 | $73,100 | $0 | $0 |
| 2017 | $7,119 | $139,000 | $0 | $0 |
| 2016 | $1,377 | $129,600 | $0 | $0 |
| 2015 | -- | $119,989 | $0 | $0 |
| 2014 | -- | $99,400 | $0 | $0 |
| 2013 | -- | $99,400 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Ryan Fagin
-
Scott Griffith
Buyer's Agent in 2024
Scott Griffith
Griffith Realty
(313) 580-1933
2 in this area
133 Total Sales
-
Renee DeKroub
Seller's Agent in 2018
Renee DeKroub
RE/MAX Michigan
(517) 404-4270
1 in this area
401 Total Sales
-
L
Buyer's Agent in 2018
Laura Ford
Map
Source: Realcomp
MLS Number: 20240070578
APN: 02-05-328-023
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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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