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Hillsdale
10240-50 Fairway Drive
$9,000
● Land - Off Market

10240-50 Fairway Drive

Jerome, MI 49249
bedrooms
Studio
bathrooms
0 Bath
$63
Est. Monthly
$15
HOA / Fees

About This Property

Discover the ideal lot for your next dream home! This stunning property offers lake access to beautiful Lake Leann, with the added bonus of the opportunity to apply for a mooring site for a year-round dock. Imagine waking up to breathtaking golf course views in a vibrant golfing community, all while enjoying exclusive private lake rights. Plus, there's an opportunity to purchase two contiguous lots for a larger property footprint. This is the perfect setting for your future home-don't miss out on this incredible opportunity!
Unit Size
-
Days on Market
-
Land Size
0.43 acres
Price per sqft
-
Property Type
Land
Property Taxes
$6
HOA Dues
$15
Year Built
-

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 2 years ago (MichRIC MLS #24036252)

Price History

Date / Event Date Event Price
Nov 8, 2024 Sold
Premium
Sold
Jul 16, 2024 Listed by C-21 Affiliated - Jackson $8,500
Listed by C-21 Affiliated - Jackson
Jul 1, 1999 Sold
Premium
Sold

Property Highlights

Building Info

Overview

    General

  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,278
  • Lot Size Depth Feet: 1,430
  • Lot Size Frontage Feet: 570
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: V
  • Subdivision: LAKE LE ANN - FAIRWAY HILLS
  • Land Acres: 0000000213
  • Standard Land Use Code: 8001
  • County Land Use Code: 402
  • Legal Description 1: LOT 162 LAKE LE ANN - FAIRWAY HILLS SEC 9 T5S R1W

Neighborhood

  • School District Name: Addison Community Schools
  • Census Tract: 050102

Zoning

  • Zoning: RU1

Geography

  • District: 04
  • Parcel: 04-110-001-162
  • Lot: 162
  • Meridian: SEC 09 TWN 05S RNG 01W
  • Municipality: SOMERSET TWP
  • Latitude: 42.0474
  • Longitude: -84.4293

    Address

  • Full Address: 10240 Fairway Dr
  • Address - House Number: 10240
  • Address - Street Name: Fairway
  • Address - Suffix Type: Dr
  • State: MI
  • City Name: Jerome
  • Carrier Code: R043
  • 4-Digit Zip Code: 9769
  • Zip Code: 49249

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $932

    Market Valuation

  • Market Total Value: $3,383
  • Market Land Value: $3,383

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,690

    Sales

  • Current Sale Contract Date: Jul 19, 2002
  • Current Sale Recording Date: Jul 19, 2002
  • Current Sale Document Type: 27
  • Previous Sale Recording Date: Jul 01, 1999
  • Previous Sale Contract Date: Jul 01, 1999
  • Previous Sale Amount: $3,700
  • Previous Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Hillsdale

Stats & Trends

Median Asking:

$249,900

Sale Price/ft²

$150

Below Asking

0.02%

Average Days on Market

61

Average Home Size

1895 ft²

Average Home Age

88.4 years

Currently For Sale

107 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

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MichRIC

Listed by: BRETT MILES, C-21 Affiliated - Jackson
Last Updated: 2 years ago
Data Source: MichRIC, MLS# 24036252
Information is deemed reliable but not guaranteed. Copyright 2026 MichRIC, LLC. All rights reserved. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 10240 Fairway Drive built and last sold?
The property at 10240 Fairway Drive was built in and last sold on Jul 19, 2002 for $0.
How much is this home worth?
The estimated value of the home located at 10240 Fairway Drive is $8,585.
What are some comparable homes to 10240 Fairway Drive?
There are currently no comparable homes to 10240 Fairway Drive.
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