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Fair Plain 49022
172 Lormar Avenue
$110,000
● House - Off Market

172 Lormar Avenue

Benton Harbor, MI 49022
bedrooms
2 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
2,320 Ft²
$204,864
RealtyHop Estimate
86.41%
Since Nov 1, 2014
National-US
Primary Model

About This Property

OPEN HOUSE this Sunday 2:00-4:00. Move in ready! This attractive all brick ranch has many newer features including roof 2013, central air conditioning 2012, guaranteed B-dry treatment system in basement and replacement windows. Lovingly maintained, this home has only had two owners. Extras you will appreciate are; large recreation room for relaxing in basement, hardwood floors, 2 full bathrooms, fenced rear yard with large storage shed, brick patio, double wide driveway, gutter covers and fireplace. All appliances included, even washer and dryer. All of this in a convenient St. Joseph Twp location with easy access to grocery, restaurants, I-94 and the beaches of Lake Michigan.
Unit Size
2,320 Ft²
Days on Market
-
Land Size
0.28 acres
Price per sqft
$47
Property Type
House
Property Taxes
$93
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: 2 years ago (MichRIC MLS #14047155)

Price History

Date / Event Date Event Price
Oct 21, 2014 Sold
Premium
Sold
Aug 14, 2014 Listed by Keller Williams Realty Swm $109,900
Listed by Keller Williams Realty Swm
Apr 28, 2006 Sold
Premium
Sold

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1950
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 19
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 1,120
  • Garage Type: 7
  • Garage Square Area: 294
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 12,023
  • Lot Size Depth Feet: 1,720
  • Lot Size Frontage Feet: 700
  • Total Building Area: 1,120
  • Building Area: 1,120
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,120
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: FAIRPLAIN GARDENS
  • Land Acres: 0000000276
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: LOT 7 BLOCK 2 FAIRPLAIN GARDENS

Neighborhood

  • School District Name: Benton Harbor Area Schools
  • School Tax School District: BENTON HARBOR
  • Census Tract: 000700

Zoning

  • Zoning: R2 - SINGL

Geography

  • Assessors Map Reference: 136-2
  • District: 18
  • Parcel: 18-2230-0018-00-8
  • Block: 2
  • Lot: 7
  • Municipality: ST JOSEPH TWP
  • Latitude: 42.0844
  • Longitude: -86.4579

    Address

  • Full Address: 172 Lormar Ave
  • Legal Unit: 7
  • Address - House Number: 172
  • Address - Street Name: Lormar
  • Address - Suffix Type: Ave
  • State: MI
  • City Name: Benton Harbor
  • Carrier Code: C020
  • 4-Digit Zip Code: 6754
  • Zip Code: 49022

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $101,482

    Appraisal Valuation

  • Standard Deviation: 0.3113
  • Valuation Date: Nov 03, 2023
  • Confidence Score: 37
  • Final Value: 105,943
  • High Value: 138,932
  • Low Value: 72,953

    Market Valuation

  • Market Total Value: $124,600

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $62,300

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Oct 17, 2014
  • Current Sale Recording Date: Oct 21, 2014
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Previous Sale Recording Date: Apr 28, 2006
  • Previous Sale Contract Date: Apr 21, 2006
  • Previous Sale Amount: $115,000
  • 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 Fair Plain

Stats & Trends

Median Asking:

$210,000

Sale Price/ft²

$146

Below Asking

0.02%

Average Days on Market

51

Average Home Size

1592 ft²

Average Home Age

66.3 years

Currently For Sale

12 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

Unit for rent at 537 Winchester Avenue, St. Joseph, MI, 49085

$1,200 /mo

  • 1 Bed
  • 1 Bath
  • 900 ft²
537 Winchester Avenue #UPPER, St. Joseph, MI, 49085 Listing by Laura Jewell

Rentals Near You

Click here to view more rentals in the neighborhood.
MichRIC

Listed by: Judy Bibbings, Keller Williams Realty Swm
Last Updated: 2 years ago
Data Source: MichRIC, MLS# 14047155
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 172 Lormar Avenue built and last sold?
The property at 172 Lormar Avenue was built in 1950 and last sold on Oct 17, 2014 for $110,000.
How much is this home worth?
The estimated value of the home located at 172 Lormar Avenue is $121,347.
What are some comparable homes to 172 Lormar Avenue?
There are currently no comparable homes to 172 Lormar Avenue.
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