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Lenawee 49221
4021 E Carleton Road
$324,900
● House - Off Market

4021 E Carleton Road

Adrian, MI 49221
bedrooms
5 Beds
bathrooms
2 Baths
square feet
3,013 Ft²
$1,882
Est. Monthly
15.55%
Cap Rate

About This Property

Looking for a hobby farm?  This is the place!  This beautiful Italianate style farmhouse sits on just over 3 acres and has a large 30'x40' barn with 10' lean to along with heat hook ups, concrete floors and electric. It has an aviary that will hold up to 365 chickens/ducks/turkeys and a cattle shed. Inside you will find a spacious kitchen with a Majestic Gas 6 burner range with convection and rotisserie ovens.  Stainless appliances along with granite countertops and to top it all off, a custom made walnut topped island large enough to inspire any chef.  If you enjoy entertaining there is plenty of space.  This home has a large formal dining room along with a family and formal sitting room.  Need bedrooms, this place has those too. Sellers are offering a 1 year home warranty through Cinch. Come check it out.
Unit Size
3,013 Ft²
Days on Market
-
Land Size
3.09 acres
Price per sqft
$108
Property Type
House
Property Taxes
$286
HOA Dues
-
Year Built
1865

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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 #23127708)

Price History

Date / Event Date Event Price
Jan 24, 2024 Sold
Premium
Sold
May 19, 2023 Listed by The Charles Reinhart Company $324,900
Listed by The Charles Reinhart Company
Oct 6, 2021 No longer available -
No longer available
Jun 14, 2021 Sold
Premium
Sold
Apr 17, 2021 In contract -
In contract
Show More

Property Highlights

Garage
Fireplace

Building Info

Overview

    General

  • Year Built: 1865
  • Effective Year Built: 1865
  • Total Rooms: 11
  • Bedroom Count: 7
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 1
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 15
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 500
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 1,523
  • Garage Type: 7
  • Garage Square Area: 641
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 133,294
  • Total Building Area: 3,026
  • Building Area: 3,026
  • Building Area Measurement: E

    Heating and Cooling

  • Air Conditioning: 6
  • Heating: 4
  • Heated Square Feet: 3,026
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000003060
  • Standard Land Use Code: 1112
  • County Land Use Code: 008
  • Legal Description 1: E 6 ACRES OF N 15 ACRES OF E 1/2 OF E-1/2 OF NE-1/4 EX S 450.21 FT SEC 19 SPLIT ON 09/23/2016 INTO PA0-119-2340-00, PA0-119-2

Neighborhood

  • School District Name: Adrian City School District
  • School Tax School District: SCH: 46010
  • Census Tract: 061200

Geography

  • Section: 19
  • Parcel: PA0-119-2350-00
  • Municipality: PALMYRA TOWNSHIP
  • Latitude: 41.8609
  • Longitude: -83.9828

    Address

  • Full Address: 4021 E Carleton Rd
  • Address - House Number: 4021
  • Street Direction: E
  • Address - Street Name: Carleton
  • Address - Suffix Type: Rd
  • State: MI
  • City Name: Adrian
  • Carrier Code: R006
  • 4-Digit Zip Code: 9687
  • Zip Code: 49221

Valuation

    Tax

  • Tax Year: 2018
  • Tax Amount: $0
  • Tax Rate Code Area: SCH: 46010

    Appraisal Valuation

  • Standard Deviation: 0.1225
  • Valuation Date: Sep 11, 2019
  • Confidence Score: 75
  • Final Value: 125,290
  • High Value: 140,643
  • Low Value: 109,936

    Market Valuation

  • Market Total Value: $129,031
  • Market Land Value: $36,591
  • Market Improvement Value: $92,440

    Assessments Valuation

  • Assessed Year: 2017
  • Assessed Total Value: $64,515

    Sales

  • Current Sale Contract Date: Nov 13, 1987
  • Current Sale Recording Date: Nov 13, 1987
  • Current 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 Lenawee

Stats & Trends

Median Asking:

$260,500

Sale Price/ft²

$161

Below Asking

0.02%

Average Days on Market

55

Average Home Size

1994 ft²

Average Home Age

68.3 years

Currently For Sale

85 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: Jill Kleine, The Charles Reinhart Company
Last Updated: 3 years ago
Data Source: MichRIC, MLS# 23127708
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 4021 East Carleton Road built and last sold?
The property at 4021 East Carleton Road was built in 1865 and last sold on Nov 13, 1987 for $0.
How much is this home worth?
The estimated value of the home located at 4021 East Carleton Road is $0.
What are some comparable homes to 4021 East Carleton Road?
There are currently no comparable homes to 4021 East Carleton Road.
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