24 days on rocket

725 Lafayette Ave NE, Grand Rapids, MI, 49503

$225,000

Home List Price

$2,672*

Closing Credit

0 Baths
Multi
Schools Nearby

Location

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725 Lafayette Ave NE, Grand Rapids$225,000

Buyer Closing Credits

$2,672*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Year Built1890
HeatingElectric, Natural Gas, Hot Water, Space Heater(s)
BasementYes
MLS #65024015907
Lot Size0.14 Acres
StatusActive

About 725 Lafayette Ave NE

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 3 other 2 family units for sale as well. MLS 24015903, MLS 24015962 & MLS 24015981.

Property Details

Property Features

Property Information:

  • Year Built: 1890

Listing Office:

  • Office Name: Five Star Real Estate (Grandv)
  • Office Phone: (616) 257-1500
  • Listing Agent: David VanDam

Interior Features

Interior Information:

  • Basement: Yes
  • Interior: Cable Available

Lot Features

Lot Information:

  • Lot Size: 0.14 Acres

Utilities

Utilities Information:

  • Heating: Electric, Natural Gas, Hot Water, Space Heater(s)

School Info

Assigned Schools Information:

  • City Middle/High School, Public Magnet Grades 7-12
  • Grand Rapids University Preparatory Academy, Public Magnet Grades 6-12
  • Riverside Middle School, Public District Grades 6-8
  • Coit Arts Academy, Public District Grades KG-5

Other

Directions Information:

  • Directions: Take Lafayette north off Michigan or South off Leonard to property. Park on Lafayette.

Price Information

Listing Price Info

Price Summary:

  • List Price: $225,000

Tax Information:

  • Annual Amount: $1,365
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Grand Rapids, MI.

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Grand Rapids, MI

City

Med. Sold Price

$299.2K

Med. Price/SqFt

$228

Avg. Days On Market

20

# of Sold Homes

224

725 Lafayette Ave NE vs Grand Rapids

24 DAYS ON ROCKET

+4 Days

$225,000

-$74.2K Less

KEY TAKEAWAY

This property is $74.2K less than the Median Sold Price in Grand Rapids, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: Greater Regional Alliance of REALTORS®
  • MLS Number: #65024015907

Listing Office:

  • Office Name: Five Star Real Estate (Grandv)
  • Office Phone: (616) 257-1500
  • Listing Agent: David VanDam

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: 4/29/2024, 2:25:22 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$1,365$72,100
2020$1,365$64,800
2019$1,290$58,300
2018$1,297$49,700
2017$1,236$44,300

History based on county public records data.

Payment Calculator

$1,190

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$741

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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.

Elementary School

school-card-donut-3154158
4
/10

  • Coit Arts Academy

  • 617 Coit Ave NE

  • 0.19 miles

  • Public District Grades KG-5

Middle School

school-card-donut-3154159
4
/10

  • Riverside Middle School

  • 265 Eleanor St NE

  • 2.08 miles

  • Public District Grades 6-8

High School

school-card-donut-3154160
9
/10

  • City Middle/High School

  • 1720 Plainfield Ave NE

  • 1.17 miles

  • Public Magnet Grades 7-12

school-card-donut-3154161
3
/10

  • Grand Rapids University Preparatory Academy

  • 512 Division Ave S

  • 1.58 miles

  • Public Magnet Grades 6-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $26,809. Typical income of Grand Rapids, MI residents is less than $35k annually. Most families are single, no kids. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Rocket Homes›Michigan›Kent County›Grand Rapids›49503›725 Lafayette Ave NE

This home is located at 725 Lafayette Ave NE in Grand Rapids, MI and zip code 49503 in the Belknap Lookout neighborhood. This home, which was built in 1890, sits on a 0.14 acre lot. It has been listed on Rocket Homes since April 04, 2024 and is currently priced at $225,000.

Over 128 listings were sold over their listed price in March 2024 in Grand Rapids, MI. In the same period over 56 listings were sold below the listed price and 40 listings were sold for the listed price. Between February 2024 and March 2024, Grand Rapids, MI real estate market has seen increase in the number of listings by 9.2%. While the average time on the market in March 2024 was 20 days, the median list price was $299,288.

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

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