Sold for $250,000

$250,000

51259-51261 Morowske Dr, Utica, MI 48316

2beds

1,316sqft

Multi Family

Built in 1957

-- sqft lot

$275,600 Zestimate^®

$190/sqft

$1,515 Estimated rent

Home value

$275,600

$256,000 - $298,000

$1,515/mo

Zestimate^® history

Owner options

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$1,515/mo

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$1,515/mo

Rent Zestimate^®

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$1,744/mo

Est. payment

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$1,744/mo

Est. payment

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What's special

Awesome opportunity in a great location. One unit just became available to show. Was previously rented for 2 years at $1050/mo. Other unit has long term tenant at $950/mo. GROSS INCOME of $24,000 annually. And the potential for increased. Expense structure, including annual taxes of $2,696, water costs of $312 (for both units in 2022), $1,464 in current insurance expenses, and lawn maintenance costs of $780. This translates to a NET PROFIT of $18,748 and an impressive 7.25% CAP RATE. Garage is currently being used by owner. New buyer can allow tenants to use it for rental increase, use it for themselves or rent it out. Beyond the numbers, this duplex offers attractive features, including recent updates such as a two-car garage, a new roof, and cosmetic enhancements throughout. Each unit includes its own laundry facilities, ensuring tenant convenience. The property also boasts a spacious yard, a large shed, and decks for both units.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 2
Bathrooms: 2
Full bathrooms: 2

Heating

Forced Air, Natural Gas

Cooling

Wall Units

Features

Has basement: No
Has fireplace: No

Interior area

Total interior livable area: 1,316 sqft
Finished area above ground: 1,316

Property

Parking

Total spaces: 2
Parking features: Garage
Has garage: Yes

Features

Levels: One
Stories: 1
Pool features: None

Lot

Size: 0.3 Acres
Dimensions: 100 x 132

Details

Additional structures: Sheds
Parcel number: 0715453014
Zoning description: MultiFamily
Special conditions: Agent Owned,Short Sale No

Construction

Type & style

Home type: MultiFamily
Architectural style: Ranch
Property subtype: Multi Family

Materials

Aluminum Siding
Foundation: Crawl Space
Roof: Asphalt

Condition

New construction: No
Year built: 1957
Major remodel year: 2013

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Community

Subdivision: CHARLES GARDENS

Location

Region: Utica

Financial & listing details

Price per square foot: $190/sqft
Tax assessed value: $55,822
Annual tax amount: $2,696
Date on market: 10/16/2023
Cumulative days on market: 14 days
Listing agreement: Exclusive Right To Sell
Listing terms: Cash,Conventional,FHA,Va Loan

Price history

Date	Event	Price
1/19/2024	Sold	$250,000$190/sqft
Source: Realcomp II #20230088108 Report a problem
11/22/2023	Pending sale	$250,000$190/sqft
Source: Realcomp II #20230088108 Report a problem
11/17/2023	Listed for sale	$250,000$190/sqft
Source: Realcomp II #20230088108 Report a problem
11/3/2023	Listing removed	--
Source: Realcomp II #20230088108 Report a problem
10/26/2023	Listed for sale	$250,000$190/sqft
Source: Realcomp II #20230088108 Report a problem
10/17/2023	Pending sale	$250,000$190/sqft
Source: Realcomp II #20230088108 Report a problem
10/16/2023	Listed for sale	$250,000$190/sqft
Source: Realcomp II #20230088108 Report a problem