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Allegan 49055
232 M-40
$168,000
● House - Off Market

232 M-40

Allegan, MI 49010
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,973 Ft²
$246,663
RealtyHop Estimate
49.58%
Since Apr 1, 2019
National-US
Primary Model

About This Property

House/barns with pond & 10 acres on M-40 between Allegan and Gobles. House/barns also available on 41 acres, 31 tillable acres selling separately. In past years, seller has leased adjoining land to the north (approximately 10 acres) from Consumers Energy. House features two main-floor bedrooms and a very large second-story bedroom. Roof, well, windows, furnace, plumbing and more have been updated. All appliances are included. A wrap-around porch overlooks the beautiful grounds. In addition to the attached 2-stall garage, the home comes with a pole barn featuring upper storage and a separated shop area as well as an additional older barn with loft and an abundance of lower level storage. Priced for quick sale, immediate occupancy. Property to be split from parent parcel prior to closing.
Unit Size
1,973 Ft²
Days on Market
-
Land Size
10.00 acres
Price per sqft
$84
Property Type
House
Property Taxes
$131
HOA Dues
-
Year Built
1941

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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 #19003378)

Price History

Date / Event Date Event Price
Mar 5, 2020 Sold
Premium
Sold
Mar 18, 2019 Sold
Premium
Sold
Jan 25, 2019 Listed by LastBidRealEstate.com $164,900
Listed by LastBidRealEstate.com

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1941
  • Effective Year Built: 1941
  • Building Count: 4
  • Bedroom Count: 0
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 11
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 669
  • Garage Type: 7
  • Garage Square Area: 2,112
  • Parking Space Count: 7
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 448,668
  • Total Building Area: 1,973
  • Gross Building Area: 1,973
  • Building Area: 1,973
  • Building Area Measurement: T

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,973
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: A
  • Land Acres: 0000010300
  • Standard Land Use Code: 7000
  • County Land Use Code: 101
  • Legal Description 1: E 700? OF N 669? OF S 929.97? E 1/2 SW 1/4 EX E 260.97? OF S 125? THEREOF SEC 29 T1N R13W TAX MAP: 10.03 AC (2020).

Neighborhood

  • School District Name: Allegan Public Schools
  • School Tax School District: ALLEGAN
  • Census Tract: 031100

Geography

  • District: 21
  • Parcel: 21-029-011-01
  • Meridian: SEC 29 TWN 01N RNG 13W
  • Municipality: TROWBRIDGE TWP
  • Latitude: 42.4363
  • Longitude: -85.8676

    Address

  • Full Address: 232 M 40 S
  • Address - House Number: 232
  • Street Segment Direction: S
  • Address - Street Name: M 40
  • State: MI
  • City Name: Allegan
  • Carrier Code: R001
  • 4-Digit Zip Code: 9731
  • Zip Code: 49010

Valuation

    Tax

  • Tax Year: 2020
  • Tax Amount: $276,903

    Market Valuation

  • Market Total Value: $190,200
  • Market Land Value: $31,600
  • Market Improvement Value: $158,600

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $95,100
  • Assessed Land Value: $15,800
  • Assessed Improvements Value: $79,300

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Mar 08, 2019
  • Current Sale Recording Date: Mar 18, 2019
  • Current Sale Price:
    Premium
  • Current 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 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

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MichRIC

Listed by: Victor P Kuiper, LastBidRealEstate.com
Last Updated: 3 years ago
Data Source: MichRIC, MLS# 19003378
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 232 M built and last sold?
The property at 232 M was built in 1941 and last sold on Mar 8, 2019 for $168,000.
How much is this home worth?
The estimated value of the home located at 232 M is $0.
What are some comparable homes to 232 M?
There are currently no comparable homes to 232 M.
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