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Branch 49094
1208/1216 Chippawa Drive
$16,500
● Land - Off Market

1208/1216 Chippawa Drive

Union City, MI 49094
bedrooms
Studio
bathrooms
0 Bath
$18,730
RealtyHop Estimate
4.64%
Since Nov 1, 2022
National-US
Primary Model
Unit Size
-
Days on Market
-
Land Size
0.28 acres
Price per sqft
-
Property Type
Land
Property Taxes
$29
HOA Dues
-
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: 3 years ago (MichRIC MLS #22040368)

Price History

Date / Event Date Event Price
Dec 1, 2023 Sold
Premium
Sold
Jul 13, 2023 Listed by Berkshire Hathaway HomeServices Michigan Real Estate $16,500
Listed by Berkshire Hathaway HomeServices Michigan Real Estate
Oct 14, 2022 Sold
Premium
Sold
Sep 19, 2022 Listed by Berkshire Hathaway HomeServices Michigan Real Estate $17,900
Listed by Berkshire Hathaway HomeServices Michigan Real Estate
Jul 3, 2022 No longer available -
No longer available
Show More

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: 6,098
  • 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: R
  • Subdivision: CHEROKEE LAKE ESTATES
  • Land Acres: 0000000140
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: LOT 147 CHEROKEE LAKE ESTATES SEC 12 T5S R8W L563 PG103

Neighborhood

  • School District Name: Union City Community Schools
  • School Tax School District: UNION CITY
  • Census Tract: 950200

Geography

  • District: 010
  • Parcel: 010-C30-000-147-00
  • Lot: 147
  • Meridian: SEC 12 TWN 05S RNG 08W
  • Municipality: SHERWOOD TWP
  • Latitude: 42.0471
  • Longitude: -85.1899

    Address

  • Full Address: 1216 Chippawa Dr
  • Address - House Number: 1216
  • Address - Street Name: Chippawa
  • Address - Suffix Type: Dr
  • State: MI
  • City Name: Union City
  • Carrier Code: R003
  • 4-Digit Zip Code: 9744
  • Zip Code: 49094

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $3,947
  • Tax Rate Code Area: 010

    Appraisal Valuation

  • Standard Deviation: 0.1497
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 70
  • Final Value: 37,217
  • High Value: 42,789
  • Low Value: 31,644

    Market Valuation

  • Market Total Value: $34,600

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $17,300

    Sales

  • Current Sale Contract Date: Nov 17, 2023
  • Current Sale Recording Date: Dec 01, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 6482
  • Previous Sale Recording Date: Oct 14, 2022
  • Previous Sale Contract Date: Oct 14, 2022
  • Previous Sale Amount: $16,500
  • 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 Branch

Stats & Trends

Median Asking:

$249,900

Sale Price/ft²

$163

Below Asking

0.03%

Average Days on Market

60

Average Home Size

2012 ft²

Average Home Age

62.7 years

Currently For Sale

116 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

Rentals Near You

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MichRIC

Listed by: William Coats, Berkshire Hathaway HomeServices Michigan Real Estate
Last Updated: 3 years ago
Data Source: MichRIC, MLS# 22040368
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 1216 Chippawa Drive built and last sold?
The property at 1216 Chippawa Drive was built in and last sold on Nov 17, 2023 for $11,000.
How much is this home worth?
The estimated value of the home located at 1216 Chippawa Drive is $0.
What are some comparable homes to 1216 Chippawa Drive?
There are currently no comparable homes to 1216 Chippawa Drive.
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