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Tecumseh 49286
502 Illinois Drive
$339,000
● House - Off Market

502 Illinois Drive

Tecumseh, MI 49286
bedrooms
4 Beds
bathrooms
3 Baths
square feet
2,928 Ft²
$1,908
Est. Monthly
11.77%
Cap Rate

About This Property

HIGHEST & BEST DUE MONDAY, JULY 1ST 7PM. Nestled in the heart of Tecumseh, close to downtown, Indian Crossing, River Raisin & Tecumseh Golf Club. This picture perfect home is ready for you to make it yours. From the open floor plan with a lovely remodeled kitchen featuring Cambria quartz countertops, vaulted ceilings & natural light- it will be hard not to fall in love! The main level has all that you could need, three bedrooms including a spacious primary suite, not to mention a finished basement with a expansive kitchenette, family area, AND fourth bedroom. Enjoy summer evenings on the top notch azek deck that is equipped with an remote controlled awning that comes with a screen for sun prevention. Welcome home to 502 Illinois Dr!
Unit Size
2,928 Ft²
Days on Market
14 days
Land Size
0.22 acres
Price per sqft
$111
Property Type
House
Property Taxes
$313
HOA Dues
-
Year Built
2000

Payment Calculator

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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: 8 months ago (MichRIC MLS #24033265)

Price History

Date / Event Date Event Price
Jul 12, 2024 Sold
Premium
Sold
Jul 2, 2024 In contract -
In contract
Jun 28, 2024 Listed by The Brokerage House $324,900
Listed by The Brokerage House

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 2000
  • Effective Year Built: 2000
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • 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: 1,448
  • Garage Type: 7
  • Garage Square Area: 480
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,583
  • Lot Size Depth Feet: 1,200
  • Lot Size Frontage Feet: 800
  • Total Building Area: 1,464
  • Building Area: 1,464
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,464
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: PARKLAND PLACE CONDOMINIUMS
  • Land Acres: 0000000220
  • Standard Land Use Code: 1004
  • County Land Use Code: 401
  • Legal Description 1: UNIT 9 PARKLAND PLACE SITE CONDOMINIUM CITY OF TECUMSEH

Neighborhood

  • School District Name: Tecumseh Public Schools
  • School Tax School District: SCH: 46140
  • Census Tract: 062300

Zoning

  • Zoning: RA-1

Geography

  • District: XT0
  • Parcel: XT0-619-0090-00
  • Municipality: TECUMSEH CITY
  • Latitude: 42.0166
  • Longitude: -83.9335

    Address

  • Full Address: 502 Illinois Dr
  • Legal Unit: 9
  • Address - House Number: 502
  • Address - Street Name: Illinois
  • Address - Suffix Type: Dr
  • State: MI
  • City Name: Tecumseh
  • Carrier Code: R005
  • 4-Digit Zip Code: 7546
  • Zip Code: 49286

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $360,949

    Appraisal Valuation

  • Standard Deviation: 0.2078
  • Valuation Date: Dec 07, 2022
  • Confidence Score: 71
  • Final Value: 274,252
  • High Value: 331,267
  • Low Value: 217,236

    Market Valuation

  • Market Total Value: $238,000

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $119,000

    Exemptions

  • Homeowner Exemption: Yes
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 Tecumseh

Stats & Trends

Median Asking:

$237,438

Sale Price/ft²

$156

Below Asking

0.02%

Average Days on Market

49

Average Home Size

1921 ft²

Average Home Age

66.9 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

Rentals Near You

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MichRIC

Listed by: Skylar Harris, The Brokerage House
Last Updated: 8 months ago
Data Source: MichRIC, MLS# 24033265
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 502 Illinois Drive built and last sold?
The property at 502 Illinois Drive was built in 2000 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 502 Illinois Drive is $332,619.
What are some comparable homes to 502 Illinois Drive?
There are currently no comparable homes to 502 Illinois Drive.
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