Imagine stepping into the charming potential of this $70,000 home and envisioning it transformed into your dream residence. This is where the FHA 203K loan steps in, a perfect fit for first-time homebuyers, not just investors. With the FHA 203K loan, you can Get this home Under contract for $70,000 and have the freedom to renovate it exactly the way you want. Here's how it works: after buying the home, you hire a licensed and insured general contractor who provides you with a detailed quote for all the renovations you desire. This list is then submitted to the appraiser, who evaluates the home as if all the improvements were already completed. Once the appraisal is done, you close on the loan "as is," including the costs of both the purchase and the planned renovations. If you are pre-approved for $125,000, you can comfortably buy this home for $70,000 and allocate $30,000 for renovations, all wrapped up in the same loan.
The contractor has up to six months after closing to complete the repairs, ensuring your new home is perfect for you. This loan not only covers the cost of the home but also finances the necessary improvements, making it a seamless process to turn this house into your ideal home.
Sold
$56,000
1531 Redwood St, Lansing, MI 48915
3beds
1,893sqft
Single Family Residence
Built in 1923
0.25 Acres Lot
$140,000 Zestimate®
$30/sqft
$2,027 Estimated rent
Home value
$140,000
$115,000 - $165,000
$2,027/mo
Zestimate® history
Owner options
List your home for rent
$2,027/mo
Rent Zestimate®
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$2,027/mo
Rent Zestimate®
Refinance and save
$324/mo
Est. payment
Refinancing to a lower rate could help reduce your monthly payments and save thousands over the life of the loan.
$324/mo
Est. payment
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List your homeWhat's special
Zillow last checked:
Listing updated:
Listed by:
Marcus T Miller 269-883-1500,
Keller Williams Kalamazoo Market Center
Bought with:
Marcus T Miller, 6501441063
Keller Williams Kalamazoo Market Center
Source: MichRIC,MLS#: 24033038
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 1
- 1/2 bathrooms: 1
Primary bedroom
- Level: Upper
- Area: 118.44
- Dimensions: 14.10 x 8.40
Bedroom 2
- Level: Upper
- Area: 75.6
- Dimensions: 9.00 x 8.40
Bedroom 3
- Level: Upper
- Area: 86.92
- Dimensions: 10.60 x 8.20
Dining room
- Level: Main
- Area: 92.15
- Dimensions: 9.50 x 9.70
Kitchen
- Level: Main
- Area: 127.05
- Dimensions: 16.50 x 7.70
Living room
- Level: Main
- Area: 159.12
- Dimensions: 11.70 x 13.60
Heating
- Forced Air
Cooling
- Window Unit(s)
Appliances
- Included: Dishwasher, Oven, Range, Refrigerator
- Laundry: In Basement
Features
- Basement: Full
- Has fireplace: No
Interior area
- Total structure area: 1,454
- Total interior livable area: 1,893 sqft
- Finished area below ground: 439
Property
Parking
- Total spaces: 1
- Parking features: Detached
- Garage spaces: 1
Features
- Stories: 2
Lot
- Size: 0.25 Acres
- Dimensions: 79 x 140
Details
- Parcel number: 33010108176502
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subtype: Single Family Residence
Materials
- Vinyl Siding
- Roof: Other
Condition
- New construction: No
- Year built: 1923
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Location
- Region: Lansing
Financial & listing details
- Price per square foot: $30/sqft
- Tax assessed value: $27,464
- Annual tax amount: $3,415
- Date on market: 6/28/2024
- Listing terms: Other,Cash,MSHDA,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 7/12/2024 | Sold | $56,000-20%$30/sqft |
Source:  MichRIC #24033038 Report a problem | ||
| 7/9/2024 | Pending sale | $70,000$37/sqft |
Source: MichRIC #24033038 Report a problem | ||
| 6/28/2024 | Listed for sale | $70,000+7057.5%$37/sqft |
Source: MichRIC #24033038 Report a problem | ||
| 4/25/2012 | Sold | $978$1/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,433 -20% | $40,100 +9.6% |
| 2024 | $3,041 | $36,600 +13.7% |
| 2023 | -- | $32,200 +9.5% |
| 2022 | -- | $29,400 +0.3% |
| 2021 | -- | $29,300 +3.5% |
| 2020 | -- | $28,300 +1.8% |
| 2019 | $3,635 | $27,800 +6.1% |
| 2018 | $3,635 +6.5% | $26,200 |
| 2017 | $3,414 | $26,200 +1.2% |
| 2016 | $3,414 | $25,900 +2.4% |
| 2015 | $3,414 | $25,300 +11% |
| 2014 | $3,414 | $22,800 -0.4% |
| 2013 | -- | $22,900 -9.8% |
| 2012 | -- | $25,400 -10.9% |
| 2011 | -- | $28,500 -8.9% |
| 2010 | -- | $31,300 -7.7% |
| 2009 | -- | $33,900 -8.6% |
| 2008 | -- | $37,100 +0.3% |
| 2007 | -- | $37,000 +7.9% |
| 2006 | -- | $34,300 +13.6% |
| 2005 | -- | $30,200 +10.2% |
| 2004 | -- | $27,400 +14.2% |
| 2003 | -- | $24,000 +11.6% |
| 2002 | -- | $21,500 +12.6% |
| 2001 | -- | $19,100 +6.1% |
| 2000 | -- | $18,000 |
Find assessor info on the county website
Neighborhood: Basset Park
Nearby homes
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Nearby schools
GreatSchools rating
- 4/10Willow SchoolGrades: PK-5Distance: 1.3 mi
- 3/10Sheridan RoadGrades: PK,5-8Distance: 1.9 mi
- 3/10J.W. Sexton High SchoolGrades: 9-12Distance: 1.3 mi
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Estimated market value
$140,000
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Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$140,000
- Michigan
- Ingham County
- Lansing
- 48915
- Basset Park
- 1531 Redwood St
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