Location, location, location! Check out this amazing 2 unit property steps away from Martha's Vineyard and other local favorites while also having great proximity to the hospitals, downtown, and highway. 550 Lyon is an excellent opportunity for both owner occupants or investors.
Each unit has 2 bedrooms and 1 full bath. The lower unit is move-in ready, boasting an updated kitchen and bathroom. The upstairs unit is currently occupied, presenting an income-generating opportunity. Both units have tons of characters, great layouts, and access to the shared laundry.
Additionally this property has 2 porches for sitting, a garage out back, and off street parking available from the alley.
Don't miss out on the chance to tour this great deal! Don't miss out on the chance to own this versatile property. Contact us today to schedule a viewing and explore the possibilities that await at 550 Lyon Street.
Sold
$365,000
550 Lyon St NE, Grand Rapids, MI 49503
4beds
2baths
1,946sqft
2 to 4 Units
Built in 1905
-- sqft lot
$412,800 Zestimate®
$188/sqft
$1,688 Estimated rent
Home value
$412,800
$392,000 - $433,000
$1,688/mo
Zestimate® history
Owner options
List your home for rent
$1,688/mo
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$1,688/mo
Rent Zestimate®
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$2,311/mo
Est. payment
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$2,311/mo
Est. payment
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List your homeWhat's special
Updated kitchen
Zillow last checked:
Listing updated:
Listed by:
Connor Anderson 616-890-7794,
Keller Williams GR East
Bought with:
Connor Anderson, 6506049133
Keller Williams GR East
Source: MichRIC,MLS#: 23056355
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
Heating
- Forced Air
Features
- Basement: Michigan Basement
Interior area
- Total interior livable area: 1,946 sqft
Property
Lot
- Size: 6,098 Square Feet
- Dimensions: 47 x 131
- Features: Level, Sidewalk
Details
- Parcel number: 411430252024
- Zoning description: RESIDENTIAL-IMP
Construction
Type & style
- Home type: MultiFamily
- Property subtype: 2 to 4 Units
Materials
- Shingle Siding
- Roof: Composition
Condition
- New construction: No
- Year built: 1905
Utilities & green energy
- Sewer: Public Sewer
- Utilities for property: Natural Gas Available, Electricity Available, Natural Gas Connected, Electricity Connected
Community & HOA
Location
- Region: Grand Rapids
Financial & listing details
- Price per square foot: $188/sqft
- Tax assessed value: $69,983
- Annual tax amount: $3,456
- Date on market: 9/28/2023
- Listing terms: VA Loan,MSHDA,FHA,Cash,Conventional
- Tenant pays: Electricity, Gas
- Electric utility on property: Yes
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 11/3/2023 | Sold | $365,000$188/sqft |
Source:  MichRIC #23056355 Report a problem | ||
| 10/11/2023 | Pending sale | $365,000$188/sqft |
Source: MichRIC #23056355 Report a problem | ||
| 9/26/2023 | Price change | $365,000-3.9%$188/sqft |
Source: MichRIC #23056355 Report a problem | ||
| 9/5/2023 | Listed for sale | $380,000+0%$195/sqft |
Source: MichRIC #23056355 Report a problem | ||
| 9/30/2022 | Listing removed | -- |
Source: MichRIC #22041381 Report a problem | ||
| 9/26/2022 | Listed for sale | $379,900+484.5%$195/sqft |
Source: MichRIC #22041381 Report a problem | ||
| 11/8/2015 | Listing removed | $800 |
Source: JMD Group LLC Report a problem | ||
| 11/2/2015 | Listed for rent | $800+3.2% |
Source: JMD Group LLC Report a problem | ||
| 2/7/2013 | Listing removed | $775 |
Source: JMD Group LLC Report a problem | ||
| 1/11/2013 | Price change | $775-46.6% |
Source: JMD Group LLC Report a problem | ||
| 1/2/2013 | Listed for rent | $1,450+87.1%$1/sqft |
Source: JMD Group LLC Report a problem | ||
| 2/7/2012 | Listing removed | $775 |
Source: Mark Duprey Report a problem | ||
| 1/17/2012 | Listed for rent | $775 |
Source: Mark Duprey Report a problem | ||
| 11/2/2010 | Sold | $65,000+18.4%$33/sqft |
Source: Public Record Report a problem | ||
| 8/26/2010 | Price change | $54,900+10%$28/sqft |
Source: foreclosure.com Report a problem | ||
| 8/19/2010 | Price change | -- |
Source: foreclosure.com Report a problem | ||
| 3/27/2010 | Listed for sale | $49,900-70.4%$26/sqft |
Source: Greenridge Realty Inc. #785034 Report a problem | ||
| 2/5/2010 | Sold | $168,761+147%$87/sqft |
Source: Public Record Report a problem | ||
| 10/5/2005 | Sold | $68,325-34.9%$35/sqft |
Source: Public Record Report a problem | ||
| 1/7/2005 | Sold | $105,008+23.7%$54/sqft |
Source: Public Record Report a problem | ||
| 7/16/2003 | Sold | $84,900$44/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $6,069 | $150,600 +6.1% |
| 2024 | -- | $141,900 +33.7% |
| 2021 | $3,172 | $106,100 +8.9% |
| 2020 | $3,172 +3.2% | $97,400 +11.7% |
| 2019 | $3,075 | $87,200 +9.1% |
| 2018 | -- | $79,900 +9.6% |
| 2017 | $3,015 | $72,900 +18.7% |
| 2016 | $3,015 | $61,400 |
| 2015 | $3,015 +5% | $61,400 +10.2% |
| 2013 | $2,872 | $55,700 -15.1% |
| 2011 | -- | $65,600 -4% |
| 2010 | -- | $68,300 -3.1% |
| 2009 | -- | $70,500 -8.7% |
| 2007 | -- | $77,200 |
| 2006 | -- | $77,200 |
| 2005 | -- | $77,200 +22.3% |
| 2004 | -- | $63,137 +51.6% |
| 2002 | -- | $41,642 +3.2% |
| 2001 | -- | $40,351 |
Find assessor info on the county website
Neighborhood: Heritage Hill
Nearby homes
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Nearby schools
GreatSchools rating
- 4/10Grand Rapids Montessori Public SchoolGrades: PK-12Distance: 0.1 mi
- 4/10Innovation Central High SchoolGrades: 9-12Distance: 0.2 mi
- 6/10Grand Rapids University Preparatory AcademyGrades: 6-12Distance: 1.1 mi
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Estimated market value
$412,800
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$412,800
- Michigan
- Kent County
- Grand Rapids
- 49503
- Heritage Hill
- 550 Lyon St NE
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