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Spring Arbor 49283
427 RICHARD ST #3
$153,500
● House - Off Market

427 RICHARD ST #3

Spring Arbor, MI 49283
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,220 Ft²
$244,402
RealtyHop Estimate
57.78%
Since Feb 1, 2018
National-US
Primary Model

About This Property

Located in Western School District, this well priced 3 bedroom and 2 bathroom home awaits its new owners.  Main floor offers an open and contemporary floor plan with living room, dining area, kitchen, and three-seasons room.  This level also provides a master suite with walk-in closet and full bathroom, two additional bedrooms, one additional full bathroom, and more.  Exterior offers a large attached garage, decks, porches, and peaceful neighborhood for evening walks.  The neighborhood is in close proximity to grade schools, Spring Arbor University, dining, shopping, and more.  Seller will consider a land contract sale to qualified buyer(s).   Call for your private tour and view the 3D Virtual Tour at:  https://my.matterport.com/show/?m=oYoHvwJ8imn
Unit Size
1,220 Ft²
Days on Market
-
Land Size
0.33 acres
Price per sqft
$127
Property Type
House
Property Taxes
$225
HOA Dues
-
Year Built
-

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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 #21090178)

Price History

Date / Event Date Event Price
Jan 10, 2018 Sold
Premium
Sold
Dec 2, 2017 Listed by BNR Real Estate Group $154,900
Listed by BNR Real Estate Group

Property Highlights

Garage
Fireplace

Building Info

Overview

    General

  • Building Count: 1
  • Bedroom Count: 0
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 29
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 1,220
  • Garage Type: 7
  • Garage Square Area: 420
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 14,288
  • Lot Size Depth Feet: 1,280
  • Lot Size Frontage Feet: 600
  • Total Building Area: 1,228
  • Building Area: 1,228
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,228
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: RICHARD STREET SITE CONDOMINIUM
  • Land Acres: 0000000328
  • Standard Land Use Code: 1004
  • County Land Use Code: 401
  • Legal Description 1: UNIT 3 RICHARD STREET SITE CONDOMINIUM SPLIT ON 09/14/1999 FROM 000-12-16-430-014-04;

Neighborhood

  • School District Name: Western School District
  • School Tax School District: 38010
  • Census Tract: 005400

Zoning

  • Zoning: RS-1

Geography

  • Assessors Map Reference: MAPS
  • District: 15
  • Parcel: 171-12-16-430-003-00
  • Municipality: SPRING ARBOR TWP
  • Latitude: 42.2108
  • Longitude: -84.5424

    Address

  • Full Address: 427 Richard St
  • Legal Unit: 3
  • Address - House Number: 427
  • Address - Street Name: Richard
  • Address - Suffix Type: St
  • State: MI
  • City Name: Spring Arbor
  • Carrier Code: R082
  • 4-Digit Zip Code: 9646
  • Zip Code: 49283

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $249,060
  • Tax Rate Code Area: 15

    Appraisal Valuation

  • Standard Deviation: 0.1847
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 75
  • Final Value: 274,829
  • High Value: 325,614
  • Low Value: 224,044

    Market Valuation

  • Market Total Value: $209,400

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $104,700

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Jan 25, 2019
  • Current Sale Recording Date: Feb 01, 2019
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2814175
  • Previous Sale Recording Date: Jan 16, 2018
  • Previous Sale Contract Date: Jan 10, 2018
  • Previous Sale Amount: $153,500
  • 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 Spring Arbor

Stats & Trends

Median Asking:

$299,900

Sale Price/ft²

$155

Below Asking

0.01%

Average Days on Market

46

Average Home Size

1378 ft²

Average Home Age

53.3 years

Currently For Sale

3 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: Doug Beiswanger, BNR Real Estate Group
Last Updated: 3 years ago
Data Source: MichRIC, MLS# 21090178
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 427 Richard Street built and last sold?
The property at 427 Richard Street was built in and last sold on Jan 25, 2019 for $186,500.
How much is this home worth?
The estimated value of the home located at 427 Richard Street is $270,954.
What are some comparable homes to 427 Richard Street?
There are currently no comparable homes to 427 Richard Street.
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