Check Availability
$995,000
House - For Sale

503 LAWRENCE Street

Ann Arbor, MI 48104
bedrooms
5 Beds
bathrooms
2 Baths
square feet
1936 Sqft
$5,433
Estimated Monthly
5.07%
Cap Rate

About This Property

Beautiful rental home in the heart of downtown Ann Arbor. Centrally located very close to Central Campus, U of M Hospital, and Kerrytown. Everything you need is conveniently located close to this amazing property! Each level has its own kitchen for meal preparation. Gross income is $5100/month. This home is tenant occupied.

The manager has listed the unit size as 1936 square feet.
Unit Size
1,936Ft²
Days on Market
720 days
Land Size
0.06 acres
Price per sqft
$514
Property Type
House
Property Taxes
$547
HOA Dues
-
Year Built
1910

Listed By

James T Silver
Keller Williams Somerset
Last updated: 4 months ago (REALCOMPMI #20221006409)

Price History

Date / Event Date Event Price
Jun 16, 2022 Listed by M77 LLC $995,000
Listed by M77 LLC
Jan 26, 2021 No longer available -
No longer available
Dec 23, 2020 Listed $776,000
Listed
Location!! Location!! Location!! ATTENTION ALL INVESTORS!!! Don't miss you chance at this 5 unit rental home in the heart of Ann Arbor on U of M's campus. Enter the living room with lots of windows allowing for ample natural light, flowing effortlessly to the dining room. Main floor features a full kitchen, 3 bedrooms, 2 rented individually, 1 larger bedroom with study rented to 2 people, shared full bath with shower/tub. Staircase at the front of the home leads to 2 bedrooms upstairs…

Property Highlights

Interior Details

Basement Information

Basement
Exterior Details

Exterior Information

Asbestos

Building Info

Overview

    General

  • Year Built: 1910
  • Effective Year Built: 1910
  • Total Rooms: 9
  • Bedroom Count: 5
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Floor Count: 2
  • Basement Type: Unspecified basement
  • Basement Area: 968
  • Garage Type: Garage
  • Garage Square Area: 280
  • Parking Space Count: 1

    Dimensions

  • Lot Size Square Feet: 2,788
  • Lot Size Depth Feet: 660
  • Lot Size Frontage Feet: 420
  • Total Building Area: 1,936
  • Building Area: 1,936
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Air Conditioning: unknown
  • Heating: Forced air unit
  • Heated Square Feet: 1,936
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: ASSRS 6 - ANN ARBOR
  • Land Acres: 0.064
  • Standard Land Use Code: Single family residential
  • Legal Description 1: S 35 FT LOT 6 & W 42 FT LOT 12 ASSESSORS PLAT NO 6

Neighborhood

  • School District Name: Ann Arbor Public Schools
  • School Tax School District: ANN ARBOR
  • Census Tract: 400800

Zoning

  • Zoning: R4C

Geography

  • District: 09
  • Parcel: 09-09-29-103-003
  • Block: 103
  • Lot: 6,12
  • Meridian: SEC 29 TWN 2S RNG 6E
  • Municipality: ANN ARBOR CITY
  • Latitude: 42.2841
  • Longitude: -83.7428

    Address

  • Full Address: 503 Lawrence St
  • Address - House Number: 503
  • Address - Street Name: Lawrence
  • Address - Suffix Type: St
  • State: MI
  • City Name: Ann Arbor
  • Carrier Code: C029
  • 4-Digit Zip Code: 5500
  • Zip Code: 48104

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $5,218
  • Tax Rate Code Area: 09

    Appraisal Valuation

  • Standard Deviation: 0.0848
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 93
  • Final Value: 937,353
  • High Value: 1,016,854
  • Low Value: 857,853

    Market Valuation

  • Market Total Value: $444,200

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $222,100

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
House
4 Beds
3.5 Baths
2,158 ft²
$521/ft²
$1,125,000 Mar 24, 2023
-
$1,401/mo
Condo
2 Beds
2.5 Baths
1,748 ft²
$569/ft²
$995,000 Mar 19, 2023
-
$1,475/mo
Condo
3 Beds
2 Baths
1,665 ft²
$659/ft²
$1,098,000 Jan 23, 2023
-
$1,553/mo
Condo
3 Beds
2 Baths
1,683 ft²
$704/ft²
$1,185,500 Feb 4, 2021
-
-

About Central Ann Arbor


Similar Homes for Sale

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Nearby Rentals

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Unit for rent at 1115 Willard St Apt 101, Ann Arbor, MI, 48104

$5,200 /mo

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Frequently Asked Questions

When was property at 503 Lawrence Street built and last sold?
The property at 503 Lawrence Street was built in 1910 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 503 Lawrence Street is $1,004,950.
What are some comparable homes to 503 Lawrence Street?
Homes that are comparable to 503 Lawrence Street include a house property at 305 West Summit Street, a condo property at 414 North Main, 441 South Ashley Street.

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