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Kalamazoo 49004 Burke Acres
2831 Mt Olivet Road
$151,000
● House - Off Market

2831 Mt Olivet Road

Kalamazoo, MI 49004
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,034 Ft²
$155,902
RealtyHop Estimate
4.00%
Since Oct 1, 2022
National-US
Primary Model

About This Property

Charming Home! Great home for main floor living!  This home features 3 bedrooms and 1 full bath.  Living room is spacious and bright with a large front window.  Kitchen offers ample counter space and opens into a lovely dining space with a built-in china cabinet.  Upgrades include replacement windows, furnace (2021), bathroom vanity, cement driveway and fenced in yard.  All the appliances are being sold with the property.  This home is very nice but is being sold AS-IS, the Seller will not make any repairs.
Unit Size
1,034 Ft²
Days on Market
-
Land Size
0.50 acres
Price per sqft
$145
Property Type
House
Property Taxes
$150
HOA Dues
-
Year Built
1953

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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 #22030637)

Price History

Date / Event Date Event Price
Oct 19, 2022 Sold
Premium
Sold
Jul 20, 2022 Listed by Five Star Real Estate $149,900
Listed by Five Star Real Estate

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1953
  • Effective Year Built: 1953
  • 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: 100
  • 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: 21,780
  • Total Building Area: 1,034
  • Building Area: 1,034
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,034
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: MALONEY 1
  • Land Acres: 0000000500
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: G54Y-80 MALONEY PLAT NO. 1 LOT 192

Neighborhood

  • School District Name: Kalamazoo Public School District
  • School Tax School District: KALAMAZOO
  • Census Tract: 005501

Zoning

  • Zoning: RS-5

Geography

  • District: 0
  • Parcel: 06-02-486-192
  • Lot: 192
  • Municipality: KALAMAZOO CITY
  • Latitude: 42.3198
  • Longitude: -85.5545

    Address

  • Full Address: 2831 Mount Olivet Rd
  • Address - House Number: 2831
  • Address - Street Name: Mount Olivet
  • Address - Suffix Type: Rd
  • State: MI
  • City Name: Kalamazoo
  • Carrier Code: C003
  • 4-Digit Zip Code: 1613
  • Zip Code: 49004

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $180,813

    Appraisal Valuation

  • Standard Deviation: 0.225
  • Valuation Date: Dec 13, 2023
  • Confidence Score: 68
  • Final Value: 176,205
  • High Value: 215,867
  • Low Value: 136,544

    Market Valuation

  • Market Total Value: $126,000

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $63,000

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Sep 22, 2022
  • Current Sale Recording Date: Oct 19, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 33230
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 Burke Acres

Stats & Trends

Median Asking:

$189,950

Sale Price/ft²

$167

Below Asking

0.02%

Average Days on Market

44

Average Home Size

1179 ft²

Average Home Age

64 years

Currently For Sale

11 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: Kim Williams, Five Star Real Estate
Last Updated: 3 years ago
Data Source: MichRIC, MLS# 22030637
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 2831 Mt Olivet Road built and last sold?
The property at 2831 Mt Olivet Road was built in 1953 and last sold on Sep 22, 2022 for $151,000.
How much is this home worth?
The estimated value of the home located at 2831 Mt Olivet Road is $0.
What are some comparable homes to 2831 Mt Olivet Road?
There are currently no comparable homes to 2831 Mt Olivet Road.
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