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Off market
  • $1,186,500

    507 5th St, Leland, MI 49654

    5beds
    3,570sqft
    SingleFamily
    Built in 2015
    7,200 Square Feet Lot
    $1,186,500 Zestimate®
    $332/sqft
    $4,485 Estimated rent

    Home value

    $1,186,500

    $1.09M - $1.29M

    $4,485/mo

    Zestimate® history
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    $4,485/mo

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    Rent Zestimate®

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    $5,708/mo

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    $5,708/mo

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    What's special

    We designed and built this home in 2015 to make time spent in Leland beautiful, comfortable, happy and memorable. It's bright, well-appointed and beautiful. It has 10-foot ceilings on main and 9 foot upstairs and in the basement. It is 3,570 SF with three bedrooms up and two bedrooms on the basement level. There are luxury finishes throughout. Hardwood maple floors, big closets, huge pantry, study/office alcove, beautiful kitchen, cast iron claw foot tub, stone masonry fireplace, air conditioning, cable TV, WiFi, two large flat screen TV’s, Carrera marble countertops in all bathrooms, quartz in the kitchen, excellent mattresses and nice furnishings (we are selling it with everything in it except for a few personal items and some pieces of artwork). Custom cabinetry with soft closing doors and drawers, high-end LG washer and dryer, all new appliances. This is a true turnkey Leland vacation home, we’re including just about everything in the house - and it's all beautiful! It now has a fully fenced in back yard (pictures are not up to date), trees surrounding back yard and is beautifully landscaped. It’s a block and half from access to Lake Leelanau and a 7-minute bike ride to Lake Michigan. The house has a wonderful, open feel to it with custom finishes throughout. It has been very well cared for since completion in 2015. There is room to add a large one car garage off the mudroom to the right. From this convenient, in town location, you can walk or ride bikes to dinner, coffee shops, beaches, bookstore or library, etc and then come back to relax in your beautiful home. It’s also on a quiet street with excellent walking and lovely neighbors. Pricing rationale: According to our builder, this home would conservatively be $650,000 to build now not including the land ($125,000), landscaping, sprinkler system, furnishings, everything in the house ($30,000) etc. When you add all that up it is $805,000. We are pricing it to sell by owner at $739,000. You will not be able to build and finish a home like this for this price in Leland. Not to mention all the stress and time of building and furnishing a home. Rental: We have been using the house for 7 weeks every summer, for the rest of the year, we have a well-established rental listing on VRBO that generates about $22,000 per year. The listing has 12 five-star reviews and can be viewed here: https://www.vrbo.com/759461 We turned down about half of the inquiries, didn’t accept pets and didn’t allow more than 8 people even though the house has bedrooms for 10. In other words, renting was not primary for us and we were very selective. If the new owner wanted to generate more rental income, it would be very easy.

    This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 5
    • Bathrooms: 4
    • Full bathrooms: 3
    • 1/2 bathrooms: 1
    Heating
    • Forced air, Other, Gas
    Cooling
    • Central
    Appliances
    • Included: Dishwasher, Dryer, Freezer, Garbage disposal, Microwave, Range / Oven, Refrigerator, Washer
    Features
    • Flooring: Tile, Hardwood, Laminate
    • Basement: Finished
    • Has fireplace: Yes
    Interior area
    • Total interior livable area: 3,570 sqft

    Property

    Parking
    • Parking features: Off-street
    Features
    • Exterior features: Wood
    • Has view: Yes
    • View description: City
    Lot
    • Size: 7,200 sqft
    Details
    • Parcel number: 00955090700

    Construction

    Type & style
    • Home type: SingleFamily
    Materials
    • Roof: Asphalt
    Condition
    • Year built: 2015

    Community & neighborhood

    Location
    • Region: Leland

    Price history

    DateEventPrice
    2/13/2021Listing removed--
    Source: Owner Report a problem
    5/28/2019Sold$725,000-3.2%$203/sqft
    Source: Agent Provided Report a problem
    2/21/2019Listed for sale$749,000+499.2%$210/sqft
    Source: Owner Report a problem
    8/23/2013Sold$125,000$35/sqft
    Source: Agent Provided Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$10,621 +5.7%$448,700 +1.8%
    2024$10,049 +4.9%$440,700 +26.3%
    2023$9,577 +4.6%$349,000 +6.7%
    2022$9,159 -4.5%$327,200 +11%
    2021$9,592 +82%$294,700 -3%
    2020$5,269 $303,800 +34.7%
    2019-- $225,600 +14.8%
    2018-- $196,500 -0.5%
    2017-- $197,500 +0.5%
    2016-- $196,500 +121.8%
    2015-- $88,600 +73.7%
    2014-- $51,000 +6.3%
    2013-- $48,000 -20%
    2012-- $60,000 -25.9%
    2011-- $81,000 -10%
    2010-- $90,000

    Find assessor info on the county website

    Neighborhood: 49654

    Nearby schools

    GreatSchools rating
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