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Allegan 49078
1515 112th Ave
$300,000
● House - Off Market

1515 112th Ave

Otsego, MI 49078
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,380 Ft²
$1,915
Est. Monthly
4.99%
Cap Rate

About This Property

Welcome to your next home, this property sits back off the road in a country setting on 9.7 beautiful acres. The home has 3 bedrooms and 2 bathrooms, kitchen, dining area and living room all make up the main level, here you find new flooring throughout, newer fridge, plenty of closet space and lots of natural light from the picture window and slider to the large backyard. Head downstairs to the full basement with endless finishing possibilities, mostly framed in and plumbed for adding a bathroom, here is also the washer and dryer/utility area and then walkout to the side yard. Enjoy a two car attached garage, huge 4 stall pole barn (2,880 sq ft area) and plenty of yard/woods! All while being conveniently located close to 131 highway. Property to be sold as-is. Call today for a showing!
Unit Size
1,380 Ft²
Days on Market
-
Land Size
9.70 acres
Price per sqft
$254
Property Type
House
Property Taxes
$196
HOA Dues
-
Year Built
1982

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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 #24037130)

Price History

Date / Event Date Event Price
Aug 28, 2024 Sold
Premium
Sold
Jul 23, 2024 In contract -
In contract
Jul 18, 2024 Listed by Jaqua, REALTORS $350,000
Listed by Jaqua, REALTORS

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1982
  • Effective Year Built: 1982
  • Building Count: 2
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 11
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 1,380
  • Garage Type: 7
  • Garage Square Area: 720
  • Parking Space Count: 3
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 422,532
  • Total Building Area: 1,380
  • Building Area: 1,380
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,380
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000009700
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: W 330' OF E 660' OF SE 1/4 SW 1/4 SEC 35 T2N R12W

Neighborhood

  • School District Name: Otsego Public Schools
  • School Tax School District: OTSEGO 20
  • Census Tract: 031300

Zoning

  • Zoning: A-2 RU

Geography

  • District: 23
  • Parcel: 23-035-011-40
  • Meridian: SEC 35 TWN 02N RNG 12W
  • Municipality: WATSON TWP
  • Latitude: 42.5099
  • Longitude: -85.6933

    Address

  • Full Address: 1515 112th Ave
  • Address - House Number: 1515
  • Address - Street Name: 112th
  • Address - Suffix Type: Ave
  • State: MI
  • City Name: Otsego
  • Carrier Code: R001
  • 4-Digit Zip Code: 9732
  • Zip Code: 49078

Valuation

    Tax

  • Tax Year: 2020
  • Tax Amount: $206,711

    Appraisal Valuation

  • Standard Deviation: 0.1874
  • Valuation Date: Jun 22, 2022
  • Confidence Score: 75
  • Final Value: 320,525
  • High Value: 380,591
  • Low Value: 260,458

    Market Valuation

  • Market Total Value: $239,400
  • Market Land Value: $59,200
  • Market Improvement Value: $180,200

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $119,700
  • Assessed Land Value: $29,600
  • Assessed Improvements Value: $90,100

    Exemptions

  • Homeowner Exemption: Yes
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 Allegan

Stats & Trends

Median Asking:

$365,000

Sale Price/ft²

$202

Below Asking

0.02%

Average Days on Market

52

Average Home Size

2157 ft²

Average Home Age

49.3 years

Currently For Sale

320 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: Katelyn M Steele, Jaqua, REALTORS
Last Updated: 3 years ago
Data Source: MichRIC, MLS# 24037130
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 1515 112th Avenue built and last sold?
The property at 1515 112th Avenue was built in 1982 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 1515 112th Avenue is $351,197.
What are some comparable homes to 1515 112th Avenue?
There are currently no comparable homes to 1515 112th Avenue.
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