NOT LISTED FOR SALE

996 W Forest Ave Muskegon, MI 49441

Nims Neighborhood

Estimated Value: $138,000 - $343,000

2 Beds
2 Baths
1,203 Sq Ft
$170/Sq Ft Est. Value

Last Sold June 14, 2021

Last sale price $640,000 $532 Per Sq Ft

Current estimated payment $1,384/month

116 Days on Market

About This Home

As of June 2021

Check out the double digit cashflow on this 8 unit package professionally managed and maintained by Lighthouse Property Management. All of the heavy lifting has been done, which makes this a perfect package for any investor. These single family homes are all occupied, city certified, and in desirable Muskegon locations that bring in $7,025/month in rent (with room to grow!). Each of these properties are in solid condition and have had updates throughout the past few years. Buyer to verify all information. See attached pro forma for unit details and lease information. Seller reserves Generac home generator at 511 E Isabella.

Last Agent to Sell the Property

Nicole Larson

Lighthouse Property Management License #6501328546 Listed on: 11/30/2020

Co-Listed By

Erin Duffy Rauch

Lighthouse Property Management License #6501413233

Last Buyer's Agent

Randy Charboneau

Independence Realty (RSC) License #6506045903

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $10,503

Year Built

  • Built in 1929

Lot Details

  • 5,663 Sq Ft Lot

Parking

  • 16 Parking Spaces

Home Design

  • Composition Roof
  • Wood Siding
  • Aluminum Siding

Utilities

  • Forced Air Heating System
  • Cable TV Available

Community Details

  • 8 Buildings
  • 8 Units

Listing and Financial Details

  • Tenant pays for electricity, water, trash collection, sewer, gas
  • The owner pays for water, sewer

Property Details

Home Type

Apartment

Est. Annual Taxes

$10,503

Year Built

Built in 1929

Lot Details

0

Listing Details

  • Property Sub-Type: 5+ Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1929
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Construction Materials: Aluminum Siding, Wood Siding
  • List Price: 689900.0
  • Number of Buildings: 8
  • Roof: Composition

Garage/Parking

  • Total Parking Spaces: 16.0

Utilities

  • Heating: Forced Air
  • Heating: Yes
  • Utilities: Cable Connected

Lot Info

  • Lot Size Acres: 0.13
  • Lot Size Area: 0.13
  • Lot Size Sq Ft: 5663.0
  • Zoning Description: 1
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Water, Sewer
  • Tenant Pays: Electricity, Water, Trash Collection, Sewer, Gas

Multi Family

  • Number of Units Total: 8

Tax Info

  • Tax Annual Amount: 10503.0
  • Tax Year: 2019

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 30, 2020
Closed on
Jun 14, 2021
Sold by
Lmo Holdings Llc
Bought by
616 Property Holdings Llc
Seller's Agent
Nicole Larson
Lighthouse Property Management
Buyer's Agent
Randy Charboneau
Independence Realty (RSC)
List Price
$714,900
Sold Price
$640,000
Premium/Discount to List
-$74,900
-10.48%
Current Estimated Value
$204,634

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$435,366
Avg. Annual Appreciation
-22.41%
Original Mortgage
$253,500
Outstanding Balance
$231,007
Interest Rate
2.9%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
-$13,850

Purchase Details

Listed on
Jan 14, 2016
Closed on
Mar 30, 2016
Sold by
Adrianse Kathy Dennison
Bought by
Lmo Holdings Llc
Seller's Agent
Hazel Kuczmera
Coldwell Banker Woodland Schmidt Muskegon
Buyer's Agent
Kathy Dennison
Lighthouse Property Management
List Price
$53,000
Sold Price
$41,999
Premium/Discount to List
-$11,001
-20.76%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
68.68%

Purchase Details

Closed on
Jun 25, 2015
Sold by
Green Tree Servicing Llc
Bought by
Fannie Mae and Federal National Mortgage Association

Purchase Details

Closed on
Jun 19, 2015
Sold by
Knoll Cheryl
Bought by
Green Tree Servicing Llc

Purchase Details

Closed on
May 30, 2007
Sold by
Hud
Bought by
Knoll Cheryl Ann

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$40,000
Interest Rate
6.22%
Mortgage Type
Unknown

Purchase Details

Closed on
Dec 29, 2006
Sold by
Washington Mutual Bank
Bought by
Hud

Purchase Details

Closed on
Sep 29, 2006
Sold by
Balcom Richard R
Bought by
Washington Mutual Bank

Purchase Details

Closed on
Feb 9, 2005
Sold by
Swanson Dale J and Swanson Sharon L
Bought by
Balcom Richard

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$78,960
Interest Rate
5.78%
Mortgage Type
FHA
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
616 Property Holdings Llc $640,000 None Available
Lmo Holdings Llc -- None Available
Fannie Mae -- Rei
Green Tree Servicing Llc $27,400 Attorney
Knoll Cheryl Ann $50,000 None Available
Hud -- Rei
Washington Mutual Bank $82,853 None Available
Balcom Richard -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 616 Property Holdings Llc $253,500
Previous Owner Lmo Holdings Llc $408,000
Previous Owner Lmo Holdings Llc $83,000
Previous Owner Knoll Cheryl A $56,800
Previous Owner Knoll Cheryl Ann $40,000
Previous Owner Knoll Cheryl A $10,000
Previous Owner Balcom Richard $78,960
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/14/2021 06/14/21 Sold $640,000 -10.5% $532 / Sq Ft
03/26/2021 03/26/21 Pending -- -- --
11/30/2020 11/30/20 For Sale $714,900 +1602.2% $594 / Sq Ft
03/30/2016 03/30/16 Sold $41,999 -20.8% $35 / Sq Ft
03/21/2016 03/21/16 Pending -- -- --
01/14/2016 01/14/16 For Sale $53,000 -- $44 / Sq Ft
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 $3,516 $84,100 $0 $0
2024 $663 $69,600 $0 $0
2023 $634 $61,800 $0 $0
2022 $3,223 $51,500 $0 $0
2021 $2,373 $45,700 $0 $0
2020 $2,339 $40,300 $0 $0
2019 $2,297 $36,100 $0 $0
2018 $2,256 $36,300 $0 $0
2017 $2,187 $34,700 $0 $0
2016 $390 $33,200 $0 $0
2015 -- $33,600 $0 $0
2014 $383 $34,100 $0 $0
2013 -- $32,400 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • N

    Seller's Agent in 2021

    Nicole Larson

    Lighthouse Property Management

    (616) 773-0016

    6 in this area

    127 Total Sales

    Nicole Larson
    Section Image

  • E

    Seller Co-Listing Agent in 2021

    Erin Duffy Rauch

    Lighthouse Property Management

    Section Image
  • Randy Charboneau

    Buyer's Agent in 2021

    Randy Charboneau

    Independence Realty (RSC)

    (616) 262-0001

    2 in this area

    90 Total Sales

    Randy Charboneau
    Section Image

  • H

    Seller's Agent in 2016

    Hazel Kuczmera

    Coldwell Banker Woodland Schmidt Muskegon

  • Kathy Dennison

    Buyer's Agent in 2016

    Kathy Dennison

    Lighthouse Property Management

    (616) 257-9577

    1 in this area

    36 Total Sales

    Kathy Dennison
    Section Image
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 20049091

Southwestern Michigan Association of REALTORS®

APN: 24-205-490-0006-10

Michigan Muskegon County Muskegon 49441 Nims

996 W Forest Ave, Muskegon, MI

This home is located at 996 W Forest Ave, Muskegon, MI 49441 since 30 November 2020 and is currently estimated at $204,634, approximately $170 per square foot. This property was built in 1929. 996 W Forest Ave is a home located in Muskegon County with nearby schools including Muskegon Covenant Academy, Muskegon Catholic Central School, and St. Michael Elementary 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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