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Decatur 49045
305 School Street
$200,000
● House - Off Market

305 School Street

Decatur, MI 49045
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,238 Ft²
$1,193
Est. Monthly
7.13%
Cap Rate

About This Property

This updated 3 bed/1.5 bath home offers the ease of main-floor living in a convenient location close to schools, shopping, and other amenities. The functional layout includes a bright kitchen with easy access to a combination laundry room/half bath, adding everyday convenience. French doors off the dining area lead to a covered patio that opens to a peaceful backyard-ideal for relaxing or entertaining. With many recent updates throughout, this move-in ready home is perfect for first-time buyers, downsizers, or anyone looking for comfortable, low-maintenance living.
Unit Size
1,238 Ft²
Days on Market
18 days
Land Size
0.24 acres
Price per sqft
$162
Property Type
House
Property Taxes
$211
HOA Dues
-
Year Built
1920

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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 #25027927)

Price History

Date / Event Date Event Price
Jun 30, 2025 Sold
Premium
Sold
Jun 17, 2025 In contract -
In contract
Jun 4, 2025 Listed by @properties Christie's Intl RE $200,000
Listed by @properties Christie's Intl RE
May 20, 2021 Sold
Premium
Sold
Apr 14, 2021 Sold
Premium
Sold
Show More

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1920
  • Effective Year Built: 1920
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • 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: 773
  • Garage Type: 7
  • Garage Square Area: 384
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 12,850
  • Lot Size Depth Feet: 1,950
  • Lot Size Frontage Feet: 660
  • Total Building Area: 1,288
  • Building Area: 1,288
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,288
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: ORIGINAL OF DECATUR
  • Land Acres: 0000000295
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: 884 19-4-14 547-545 841-588 935-819,820 1173-37 * COM AT MOST SLY COR LOT 10, TH NELY ALG SLY L OF LOT 168', TH CONT NELY ALG

Neighborhood

  • School District Name: Decatur Public Schools
  • School Tax School District: DECATUR
  • Census Tract: 011601

Geography

  • Assessors Map Reference: 884
  • District: 43
  • Parcel: 80-43-040-494-00
  • Block: P
  • Lot: 10,168
  • Municipality: DECATUR VILLAGE
  • Latitude: 42.1116
  • Longitude: -85.9752

    Address

  • Full Address: 305 School St
  • Address - House Number: 305
  • Address - Street Name: School
  • Address - Suffix Type: St
  • State: MI
  • City Name: Decatur
  • Carrier Code: C001
  • 4-Digit Zip Code: 1036
  • Zip Code: 49045

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $124,669
  • Tax Rate Code Area: 80430

    Appraisal Valuation

  • Standard Deviation: 0.3385
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 32
  • Final Value: 81,503
  • High Value: 109,099
  • Low Value: 53,906

    Market Valuation

  • Market Total Value: $102,200

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $51,100

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Apr 13, 2021
  • Current Sale Recording Date: May 20, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Previous Sale Recording Date: May 08, 1998
  • Previous Sale Contract Date: May 08, 1998
  • Previous Sale Amount: $59,000
  • Previous Sale Document Type: 27
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 Decatur

Stats & Trends

Median Asking:

$174,999

Sale Price/ft²

$114

Below Asking

0.03%

Average Days on Market

54

Average Home Size

1659 ft²

Average Home Age

96.2 years

Currently For Sale

10 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: Martha Hassle, @properties Christie's Intl RE
Last Updated: 2 years ago
Data Source: MichRIC, MLS# 25027927
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 305 School Street built and last sold?
The property at 305 School Street was built in 1920 and last sold on Apr 13, 2021 for $152,500.
How much is this home worth?
The estimated value of the home located at 305 School Street is $195,488.
What are some comparable homes to 305 School Street?
There are currently no comparable homes to 305 School Street.
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