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Chelsea 48118
303 Madison Street
$278,000
● House - Off Market

303 Madison Street

Chelsea, MI 48118
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,520 Ft²
$428,026
RealtyHop Estimate
61.58%
Since Jun 1, 2017
National-US
Primary Model

About This Property

ENTERED FOR COMPARATIVE PURPOSES ONLY, Rec Room: Finished
Unit Size
1,520 Ft²
Days on Market
-
Land Size
0.28 acres
Price per sqft
$174
Property Type
House
Property Taxes
$320
HOA Dues
-
Year Built
1900

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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 #47385)

Price History

Date / Event Date Event Price
Jun 6, 2023 Sold
Premium
Sold
May 18, 2023 Listed by RE/MAX Platinum $349,900
Listed by RE/MAX Platinum
Sep 21, 2018 Sold
Premium
Sold
Aug 9, 2018 Listed by RE/MAX Platinum $299,900
Listed by RE/MAX Platinum
May 4, 2017 Listed by RE/MAX Platinum $264,900
Listed by RE/MAX Platinum
Show More

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1900
  • Effective Year Built: 1900
  • 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: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 864
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 8
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 12,415
  • Lot Size Depth Feet: 2,640
  • Lot Size Frontage Feet: 470
  • Total Building Area: 1,044
  • Building Area: 1,044
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,044
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000285
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: OWNER REQUEST ****FROM 0707250016 03/27/95C.V. 1L-7D-2D-1 PCL A COM AT NW COROF S FRL 1/2 OF SW FRL 1/4 OF NW FRL 1/4 OF SEC

Neighborhood

  • School District Name: Chelsea School District
  • School Tax School District: CHELSEA
  • Census Tract: 446400

Zoning

  • Zoning: RS3 TW

Geography

  • District: 06
  • Parcel: 06-07-07-250-028
  • Block: 250
  • Meridian: SEC 07 TWN 02S RNG 04E
  • Municipality: CHELSEA CITY
  • Latitude: 42.3177
  • Longitude: -84.0145

    Address

  • Full Address: 303 Madison St
  • Address - House Number: 303
  • Address - Street Name: Madison
  • Address - Suffix Type: St
  • State: MI
  • City Name: Chelsea
  • Carrier Code: C005
  • 4-Digit Zip Code: 1112
  • Zip Code: 48118

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $244,437
  • Tax Rate Code Area: 06

    Appraisal Valuation

  • Standard Deviation: 0.1799
  • Valuation Date: Nov 15, 2023
  • Confidence Score: 76
  • Final Value: 314,386
  • High Value: 370,951
  • Low Value: 257,822

    Market Valuation

  • Market Total Value: $236,800

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $118,400

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: May 03, 2023
  • Current Sale Recording Date: Jun 06, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 6689884
  • Previous Sale Recording Date: Sep 21, 2018
  • Previous Sale Contract Date: Sep 07, 2018
  • Previous Sale Amount: $305,000
  • 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 Chelsea

Stats & Trends

Median Asking:

$342,450

Sale Price/ft²

$204

Below Asking

0.01%

Average Days on Market

38

Average Home Size

2027 ft²

Average Home Age

51 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

Unit for rent at 115 S Main Street, Chelsea, MI, 48118

$2,350 /mo

  • 2 Beds
  • 2 Baths
  • 1,145 ft²
115 S Main Street #315, Chelsea, MI, 48118 Listing by Naomi Dillen

Rentals Near You

Click here to view more rentals in the neighborhood.
MichRIC

Listed by: Mark L Argir, RE/MAX Platinum
Last Updated: 3 years ago
Data Source: MichRIC, MLS# 47385
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 303 Madison built and last sold?
The property at 303 Madison was built in 1900 and last sold on May 3, 2023 for $380,000.
How much is this home worth?
The estimated value of the home located at 303 Madison is $0.
What are some comparable homes to 303 Madison?
There are currently no comparable homes to 303 Madison.
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