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Berrien 49085
4873 Terrace Lane
Photo of 4873 Terrace Lane
Sold on Jul 11, 2025

32

Map

Photo of 4873 Terrace Lane
Photo of 4873 Terrace Lane
$425,000
● House - Off Market

4873 Terrace Lane

St. Joseph, MI 49085
bedrooms
4 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
2,700 Ft²
$2,383
Est. Monthly
8.42%
Cap Rate

About This Property

Fabulous Updated Ranch in Lakeshore School District. This 4 bedroom/2.5 bath home has been completely remodeled and is ready for you to live and love!  There is new vinyl plank flooring/carpet throughout, modern kitchen and dining area, large living room, family room with wood-burning fireplace and sliders to outdoor patio/firepit areas, dedicated office with french doors, primary en-suite bedroom, main level laundry room, partially finished basement bedroom with egress window and recreation room/flex space, ample storage, 2 car attached garage with workspace, all nicely landscaped and easy to maintain. A short distance to Lake Michigan, major shopping centers, Rt 94, wineries, breweries, restaurants and so much more.  Take a look, fall in love and enjoy summer in SW Michigan!
Unit Size
2,700 Ft²
Days on Market
37 days
Land Size
0.30 acres
Price per sqft
$161
Property Type
House
Property Taxes
$247
HOA Dues
-
Year Built
1977

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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 #25026123)

Price History

Date / Event Date Event Price
Jul 11, 2025 Sold
Premium
Sold
Jun 16, 2025 In contract -
In contract
Jun 2, 2025 Listed by RE/MAX Harbor Country @ New Buffalo $435,000
Listed by RE/MAX Harbor Country @ New Buffalo
Nov 23, 2021 Sold
Premium
Sold
Sep 2, 2015 Sold
Premium
Sold
Show More

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1977
  • Effective Year Built: 1977
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 19
  • 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: 899
  • Garage Type: 7
  • Garage Square Area: 655
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 12,981
  • Lot Size Depth Feet: 1,300
  • Lot Size Frontage Feet: 1,000
  • Total Building Area: 1,868
  • Building Area: 1,868
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,868
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: OAK TERRACE #2
  • Land Acres: 0000000298
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: LOT 23 OAK TERRACE NO 2

Neighborhood

  • School District Name: Lakeshore School District
  • School Tax School District: LAKESHORE
  • Census Tract: 001400

Zoning

  • Zoning: LD

Geography

  • Assessors Map Reference: 014-4
  • District: 12
  • Parcel: 12-5590-0023-00-3
  • Lot: 23
  • Municipality: LINCOLN TWP
  • Latitude: 42.0295
  • Longitude: -86.4898

    Address

  • Full Address: 4873 Terrace Ln
  • Legal Unit: 23
  • Address - House Number: 4873
  • Address - Street Name: Terrace
  • Address - Suffix Type: Ln
  • State: MI
  • City Name: Saint Joseph
  • Carrier Code: R041
  • 4-Digit Zip Code: 9723
  • Zip Code: 49085

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $203,844

    Appraisal Valuation

  • Standard Deviation: 0.2503
  • Valuation Date: Nov 03, 2023
  • Confidence Score: 64
  • Final Value: 275,017
  • High Value: 343,867
  • Low Value: 206,167

    Market Valuation

  • Market Total Value: $213,400

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $106,700

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Nov 22, 2021
  • Current Sale Recording Date: Nov 23, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Previous Sale Recording Date: Sep 02, 2015
  • Previous Sale Contract Date: Aug 31, 2015
  • Previous Sale Amount: $167,500
  • 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 Berrien

Stats & Trends

Median Asking:

$325,000

Sale Price/ft²

$187

Below Asking

0.02%

Average Days on Market

54

Average Home Size

2025 ft²

Average Home Age

59.5 years

Currently For Sale

572 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 1835 Fox Prairie Road, St. Joseph, MI, 49085

$3,200 /mo

  • 4 Beds
  • 3 Baths
  • 3,091 ft²
1835 Fox Prairie Road, St. Joseph, MI, 49085 Listing by David E Shepherd

Rentals Near You

Click here to view more rentals in the neighborhood.
MichRIC

Listed by: Traci S Lauricella, RE/MAX Harbor Country @ New Buffalo
Last Updated: 2 years ago
Data Source: MichRIC, MLS# 25026123
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 4873 Terrace Lane built and last sold?
The property at 4873 Terrace Lane was built in 1977 and last sold on Nov 22, 2021 for $200,000.
How much is this home worth?
The estimated value of the home located at 4873 Terrace Lane is $445,113.
What are some comparable homes to 4873 Terrace Lane?
There are currently no comparable homes to 4873 Terrace Lane.
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