1 month on rocket

736 Michigan Ave, Norfolk, VA, 23508

$680,000

Home List Price

$8,075*

Closing Credit

0 Baths
3,270 SqFt
$208/SqFt
Multi
Schools Nearby

Location

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736 Michigan Ave, Norfolk$680,000

Buyer Closing Credits

$8,075*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Year Built1936
BasementYes
MLS #10521990
StatusActive

About 736 Michigan Ave

Exciting opportunity to own a 4 plex property in the charming and historic Colonial Place neighborhood. Can make a great owner occupied investment property or a great cash flow investment close to NOB and ODU. This property features four units, with the main apartment (3BR on lower level) equipped with a washer/dryer. Ample parking is available in the rear and on the street. Hardwood floors beneath the carpeting upstairs. Each unit has separate updated electrical panels. Landlord pays water meter, electric water heater, and natural gas boiler that provides heat for all units. Short distance to the shops and restaurants on Colley. This is a desirable rental location with low vacancy rates. For owner occupied there is the possibility of assuming a 2.5% interest rate mortgage from the seller. Ask agent for more details.

Property Details

Property Features

Property Information:

  • Architectural Style: Over/Under
  • Year Built: 1936
  • Living Area: 3,270 SqFt

Listing Office:

  • Office Name: The Real Estate Group
  • Listing Agent: Eric Ziemer

Interior Features

Interior Information:

  • Basement: Yes

School Info

Assigned Schools Information:

  • Maury High School, Public Magnet Grades 9-12
  • Blair Middle School, Public Magnet Grades 6-8
  • Ghent School, Public District Grades KG-8
  • Granby Elementary School, Public District Grades PK-5

Price Information

Listing Price Info

Price Summary:

  • List Price: $680,000
  • Price Per SqFt: $208/SqFt

Tax Information:

  • Annual Amount: $5,926
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Norfolk, VA.

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Norfolk, VA

City

Med. List Price

$324.8K

Med. Price/SqFt

$199

Avg. Days On Market

88

# of Sold Homes

253

736 Michigan Ave vs Norfolk

58 DAYS ON ROCKET

-30 Days

$680,000

+$355.1K More

$208/SqFt

+$8 More

KEY TAKEAWAY

This property is $355.1K more than the Median List Price and $8/SqFt more than other homes in Norfolk, VA.

Based on homes listed in March 2024

MLS Details

MLS Information:

  • MLS Number: #10521990

Listing Office:

  • Office Name: The Real Estate Group
  • Listing Agent: Eric Ziemer

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Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$5,926$474,100
2020$5,870$469,600
2019$5,568$469,600
2018$5,568$445,400
2017$5,023$436,800

History based on county public records data.

Payment Calculator

$3,461

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,105

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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-1690555
2
/10

  • Granby Elementary School

  • 7101 Newport Ave

  • 1.99 miles

  • Public District Grades PK-5

Middle School

school-card-donut-1690556
4
/10

  • Blair Middle School

  • 730 Spotswood Ave

  • 0.87 miles

  • Public Magnet Grades 6-8

school-card-donut-1690557
7
/10

  • Ghent School

  • 200 Shirley Ave

  • 1.19 miles

  • Public District Grades KG-8

High School

school-card-donut-1690558
3
/10

  • Maury High School

  • 322 Shirley Ave

  • 1.12 miles

  • Public Magnet Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $64,000. Most Norfolk, VA residents have annual incomes between $35k-100k. Residents typically live in single, no kids family. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Rocket Homes›Virginia›Norfolk›23508›736 Michigan Ave

This home is located at 736 Michigan Ave in Norfolk, VA and zip code 23508 in the Colonial Place neighborhood. This 3,270 square foot home was built in 1936. It has been listed on Rocket Homes since February 29, 2024 and is currently priced at $680,000.

The number of homes for sale in Norfolk, VA increased by 13.6% between February 2024 and March 2024. The median list price of listings available in March 2024 was $324,859, while the average time on the real estate market was 88 days.

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

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