Wow!! Cash flowing investment property for under 250k! 2 Units. Unit 1: Upper: 2 bedroom, 1 bath, current rent is $1,200 per month. Unit: 2 Lower: 2 bedrooms, 1 bath current rent is $1,500 per month. Total rents are $2,700 per month!! Off-Street parking off alley. property is located near major bus routes. Walking distance to Coit Arts Academy, Medical Mile, Downtown GR, and Colleges. Tenant's rights apply. 24 hour notice for showings required. Pre approval or proof of funds required by seller before any showings are approved. Seller has 2 other 2 family units for sale as well. MLS 24015903 & MLS 24015981.
Sold
$200,000
725 Lafayette Ave NE, Grand Rapids, MI 49503
4beds
2baths
1,650sqft
2 to 4 Units
Built in 1890
-- sqft lot
$272,500 Zestimate®
$121/sqft
$1,514 Estimated rent
Home value
$272,500
$245,000 - $300,000
$1,514/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
David VanDam 616-890-8011,
Five Star Real Estate (Grandv)
Bought with:
Jason Post
Five Star Real Estate (Courtland)
Source: MichRIC,MLS#: 24015907
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
Heating
- Hot Water, Space Heater
Features
- Basement: Michigan Basement
Interior area
- Total interior livable area: 1,650 sqft
Property
Parking
- Total spaces: 4
Lot
- Size: 6,098 Square Feet
- Dimensions: 50' x 121'
- Features: Level, Sidewalk
Details
- Parcel number: 411419327033
- Zoning description: multi family
Construction
Type & style
- Home type: MultiFamily
- Property subtype: 2 to 4 Units
Materials
- Shingle Siding
- Roof: Composition
Condition
- New construction: No
- Year built: 1890
Utilities & green energy
- Sewer: Public Sewer, Storm Sewer
- Utilities for property: Natural Gas Available, Electricity Available, Cable Available, Natural Gas Connected, Electricity Connected
Community & HOA
Location
- Region: Grand Rapids
Financial & listing details
- Price per square foot: $121/sqft
- Tax assessed value: $30,102
- Annual tax amount: $1,509
- Date on market: 4/28/2024
- Listing terms: Cash,Conventional
- Tenant pays: Electricity, Gas
- Electric utility on property: Yes
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 9/9/2024 | Sold | $200,000-11.1%$121/sqft |
Source:  MichRIC #24015907 Report a problem | ||
| 8/6/2024 | Pending sale | $225,000$136/sqft |
Source: MichRIC #24015907 Report a problem | ||
| 4/28/2024 | Listed for sale | $225,000$136/sqft |
Source: MichRIC #24015907 Report a problem | ||
| 4/19/2024 | Pending sale | $225,000$136/sqft |
Source: MichRIC #24015907 Report a problem | ||
| 4/4/2024 | Listed for sale | $225,000+4.7%$136/sqft |
Source: MichRIC #24015907 Report a problem | ||
| 11/22/2023 | Listing removed | -- |
Source: MichRIC #23027468 Report a problem | ||
| 7/31/2023 | Listed for sale | $215,000-6.5%$130/sqft |
Source: MichRIC #23027468 Report a problem | ||
| 11/7/2022 | Listing removed | -- |
Source: MichRIC #22014305 Report a problem | ||
| 9/9/2022 | Price change | $229,900-4.2%$139/sqft |
Source: MichRIC #22014305 Report a problem | ||
| 4/25/2022 | Listed for sale | $240,000+23.1%$145/sqft |
Source: MichRIC #22014305 Report a problem | ||
| 7/2/2021 | Listing removed | $195,000$118/sqft |
Source:  MiRealSource #70178979 Report a problem | ||
| 2/11/2021 | Listed for sale | $195,000$118/sqft |
Source: MichRIC #21004282 Report a problem | ||
| 3/18/2020 | Listing removed | $950$1/sqft |
Source: a-l property Report a problem | ||
| 2/29/2020 | Listed for rent | $950$1/sqft |
Source: a-l property Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,561 | $102,900 +6.6% |
| 2024 | -- | $96,500 +33.8% |
| 2021 | $1,365 | $72,100 +11.3% |
| 2020 | $1,365 +3.2% | $64,800 +11.1% |
| 2019 | $1,323 | $58,300 +17.3% |
| 2018 | -- | $49,700 +13.2% |
| 2017 | $1,297 | $43,900 +28.7% |
| 2016 | $1,297 | $34,100 |
| 2015 | $1,297 +5% | $34,100 +26.8% |
| 2013 | $1,236 | $26,900 -19.7% |
| 2011 | -- | $33,500 -6.7% |
| 2010 | -- | $35,900 -8.4% |
| 2009 | -- | $39,200 +3.4% |
| 2007 | -- | $37,900 +84.2% |
| 2006 | -- | $20,572 +3.7% |
| 2005 | -- | $19,838 +3.3% |
| 2004 | -- | $19,205 +6.2% |
| 2002 | -- | $18,081 +3.2% |
| 2001 | -- | $17,521 |
Find assessor info on the county website
Neighborhood: Belknap Lookout
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Nearby schools
GreatSchools rating
- 5/10Coit Creative Arts AcademyGrades: PK-5Distance: 0.2 mi
- 9/10City High Middle SchoolGrades: 7-12Distance: 1.2 mi
- 4/10Innovation Central High SchoolGrades: 9-12Distance: 0.7 mi
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Estimated market value
$272,500
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Estimated market value
$272,500
- Michigan
- Kent County
- Grand Rapids
- 49503
- Belknap Lookout
- 725 Lafayette Ave NE
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