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Milan 48160
121 Iva Street
$250,000
● House - Off Market

121 Iva Street

Milan, MI 48160
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,152 Ft²
$1,473
Est. Monthly
7.31%
Cap Rate

About This Property

Open house 6/2 from 2-4. Located on a cul-de-sac, this three bedroom cape-cod style home boasts many features. Big expenses completed for you with NEW a/c and furnace installed in 2017. This home features a more modern and updated appearance with a fireplace and timber mantle in the family room, hardwood floors throughout, and an open kitchen with a custom island featuring a butcher block countertop. There is a new dishwasher, sink, fixtures, and stainless steel double door refrigerator. A wooden fence enclosing the yard was recently installed and a wraparound deck with a wooden swing suspended from the pergola overhead providing shade, is perfect for relaxation and entertaining. There is a detached oversized 2 car garage and a storage shed for tools and lawn mower. Your new home awaits!
Unit Size
1,152 Ft²
Days on Market
-
Land Size
0.18 acres
Price per sqft
$204
Property Type
House
Property Taxes
$318
HOA Dues
-
Year Built
1950

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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: 3 years ago (MichRIC MLS #24026954)

Price History

Date / Event Date Event Price
Jul 23, 2024 Sold
Premium
Sold
May 30, 2024 Listed by Real Estate One $235,000
Listed by Real Estate One
Jun 23, 2017 Sold
Premium
Sold
May 12, 2017 Listed by Real Estate One $145,900
Listed by Real Estate One
May 10, 2005 Sold
Premium
Sold

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1950
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • 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 Count: 150
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Garage Square Area: 400
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 8,015
  • Lot Size Depth Feet: 1,000
  • Lot Size Frontage Feet: 0
  • Total Building Area: 1,152
  • Building Area: 1,152
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,152
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: RIVERSIDE SUBDIVISION
  • Land Acres: 0000000184
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: TRF 6-21-96 *OLD SID - 19 19-155-015-00 MI 33-15 LOT 15 RIVERSIDE SUBDIVISION.

Neighborhood

  • School District Name: Milan Area Schools
  • School Tax School District: MILAN
  • Census Tract: 421100

Zoning

  • Zoning: R1B

Geography

  • District: 19
  • Parcel: 19-19-35-352-003
  • Block: 352
  • Lot: 15
  • Meridian: SEC 35 TWN 4S RNG 6E
  • Municipality: MILAN CITY
  • Latitude: 42.0876
  • Longitude: -83.6932

    Address

  • Full Address: 121 Iva St
  • Address - House Number: 121
  • Address - Street Name: Iva
  • Address - Suffix Type: St
  • State: MI
  • City Name: Milan
  • Carrier Code: C001
  • 4-Digit Zip Code: 1211
  • Zip Code: 48160

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $324,665
  • Tax Rate Code Area: 19

    Appraisal Valuation

  • Standard Deviation: 0.2581
  • Valuation Date: Nov 15, 2023
  • Confidence Score: 63
  • Final Value: 246,706
  • High Value: 310,390
  • Low Value: 183,022

    Market Valuation

  • Market Total Value: $169,800

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $84,900

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Jun 12, 2017
  • Current Sale Recording Date: Jun 23, 2017
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 6378769
  • Previous Sale Recording Date: May 10, 2005
  • Previous Sale Contract Date: Apr 15, 2005
  • Previous Sale Amount: $150,000
  • Previous Sale Document Type: 71
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 Milan

Stats & Trends

Median Asking:

$299,900

Sale Price/ft²

$195

Below Asking

0.02%

Average Days on Market

53

Average Home Size

1644 ft²

Average Home Age

47.9 years

Currently For Sale

9 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: Cheryl Clossick, Real Estate One
Last Updated: 3 years ago
Data Source: MichRIC, MLS# 24026954
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 121 Iva Street built and last sold?
The property at 121 Iva Street was built in 1950 and last sold on Jun 12, 2017 for $147,000.
How much is this home worth?
The estimated value of the home located at 121 Iva Street is $228,729.
What are some comparable homes to 121 Iva Street?
There are currently no comparable homes to 121 Iva Street.
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