27 days on rocket

1164 Terrace St, Muskegon, MI, 49442

$800,000

Home List Price

$9,500*

Closing Credit

0 Baths
Multi
Schools Nearby

Location

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1164 Terrace St, Muskegon$800,000

Buyer Closing Credits

$9,500*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Year Built1906
HeatingElectric, Floor Furnace
CoolingCentral Air
BasementYes
MLS #65024015581
Lot Size0.40 Acres
StatusActive

About 1164 Terrace St

This beautiful historic flagship home has been renovated from the studs in to create a wonderful 5 unit investment property that is turn key and ready to produce income! This property has a short term rental certificate from the City. No expense was spared in turning this property into what it is today. From the moment you pull up charm and historical beauty abound. The exterior is beautifully landscaped and is also equipped with in-ground sprinkling for the yard and plant beds. Additional exterior notes are new roof, new windows (other than a few windows in unit 2), and professionally restored and painted siding. The charm continues when walking up the stairs to the large wrap around front porch.Head inside and you are greeted with a beautiful common space with original hard wood floors as well as the stairway with original stair post with wonderful detail. Each unit has all new vinyl plank flooring, quartz counter tops, tile back splash, plenty of lighting, and stainless steal appliances. Units 1 and 2 have their own in unit laundry. Units 3,4,and 5 share the laundry on the second level common space. Units are heated and cooled using mini split systems that control the temperature in each room using only electricity. All units have also been furnished and stocked with everything needed to operate as a short term rental. This property would make a wonderful short term rental or high end rental property. Other notable details are that the floors have been leveled using gypcrete which makes sure there is zero sloping but also improves fire rating as well as reduces floor noise. All new electrical, plumbing, insulation and HVAC. There is a fire suppression system as well. Also ring flood light cameras cover all 4 corners of the house giving 360 degree sight and sound 24/7. The exterior also has new concrete with plenty of parking. Projections on short term rental are an average of $150 per night with and occupancy of 60% or 220 nights per unit. resulting in a projected income of $165,000 per year. This is a great o

Property Details

Property Features

Property Information:

  • Year Built: 1906

Listing Office:

  • Office Name: Five Star Real Estate (Grandv)
  • Office Phone: (616) 257-1500
  • Listing Agent: Andrew J Straub

Interior Features

Interior Information:

  • Basement: Yes
  • Interior: Laundry Facility, Cable Available

Lot Features

Lot Information:

  • Lot Size: 0.40 Acres

Utilities

Utilities Information:

  • Heating: Electric, Floor Furnace
  • Cooling: Central Air

Other

Directions Information:

  • Directions: Apple to Terrace, South to Home.

Price Information

Listing Price Info

Price Summary:

  • List Price: $800,000

Tax Information:

  • Annual Amount: $1,440
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Muskegon, MI.

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Muskegon, MI

City

Med. Sold Price

$180K

Med. Price/SqFt

$152

Avg. Days On Market

51

# of Sold Homes

110

1164 Terrace St vs Muskegon

27 DAYS ON ROCKET

-24 Days

$800,000

+$620K More

KEY TAKEAWAY

This property is $620K more than the Median Sold Price in Muskegon, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: Greater Regional Alliance of REALTORS®
  • MLS Number: #65024015581

Listing Office:

  • Office Name: Five Star Real Estate (Grandv)
  • Office Phone: (616) 257-1500
  • Listing Agent: Andrew J Straub

IDXDisclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.

IDX provided courtesy of Realcomp II Ltd. Copyright © 2024 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/30/2024, 10:25:20 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Jun 25, 2021Home Sold
$112,500
Aug 09, 2018Home Sold
$44,900
Aug 09, 2018Home Sold
$49,000
Oct 24, 2008Home Sold
$24,500
Jul 10, 2007Home Sold
$107,959
Jan 06, 2006Home Sold
$58,000
Jan 06, 2006Home Sold
$119,000

Tax History

YEARPROP. TAXASSESSMENT
2021$1,440$30,500
2020$1,402$24,300
2019$1,036$22,400
2018$1,097$22,200
2017$1,097$17,800

History based on county public records data.

Payment Calculator

$4,060

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,465

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NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-3961172
3
/10

  • Moon Elementary School

  • 1826 Hoyt St

  • 0.89 miles

  • Public District Grades PK-6

school-card-donut-3961173
4
/10

  • Oakview Elementary School

  • 1420 Madison St

  • 1.17 miles

  • Public District Grades PK-6

school-card-donut-3961174
3
/10

  • Marquette Elementary School

  • 480 Bennett St

  • 1.56 miles

  • Public District Grades PK-6

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $9,340. The majority of Muskegon, MI residents have income less than $35k annually. Most families are single, no kids. Most residents in this area have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›Michigan›Muskegon County›Muskegon›49442›1164 Terrace St

This home is located at 1164 Terrace St in Muskegon, MI and zip code 49442 in the McLaughlin neighborhood. This home, which was built in 1906, sits on a 0.40 acre lot. It has been listed on Rocket Homes since April 03, 2024 and is currently priced at $800,000.

In March 2024, from all listings sold in Muskegon, MI there were more than 36 sold above asking price, over 46 sold below and more than 28 were sold right at the asked price. The number of homes for sale in Muskegon, MI decreased by 6.6% between February 2024 and March 2024. Listings spent 51 days on the market in March 2024, and had a median list price of $180,000 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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