For Sale
For Rent
Blog
Property Records
Schools
SEARCH
Property Records
For Sale
For Rent
MORE
Blog
Schools
See Home Value
Ionia 48851
5056 Riverside Drive
$124,900
● House - Off Market

5056 Riverside Drive

Lyons, MI 48851
bedrooms
2 Beds
bathrooms
1 Bath
square feet
838 Ft²
$614
Est. Monthly

About This Property

8.1 Acres On Paved Road. Libhart Creek Winds Thru This Property. Home Overlooks Creek And Neat Waterfall. 2+ Bedroom Home Plus A 1-stall Attached Garage. Separate Newer 2+ Stall Garage. Approx 400 Square Feet Of Beautiful Creek Frontage.
Unit Size
838 Ft²
Days on Market
-
Land Size
8.10 acres
Price per sqft
$149
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
-

Payment Calculator

Home Price
Down Payment
%
Loan Term
Interest %

Your Estimated Monthly Payment

Principal + Interest:
Property Tax:
HOA:
Home Insurance:
Mortgage Insurance:

Cap Rate Calculator

Purchase Price
Monthly Property Taxes
Monthly Rental Income
Maintenance & HOA
Income Per Year
Expenses Per Year
Operating Profit Per Year
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 #3513475)

Price History

Date / Event Date Event Price
Aug 7, 2017 Sold
Premium
Sold
Jul 2, 2017 Listed $139,900
Listed
The manager has listed the unit size as 838 square feet.
May 16, 2017 Listed by Coldwell Banker Professionals $139,900
Listed by Coldwell Banker Professionals
Dec 13, 2004 Listed by Coldwell Banker Professionals $124,900
Listed by Coldwell Banker Professionals

Property Highlights

Garage

Building Info

Overview

    General

  • Building Count: 1
  • Bedroom Count: 0
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Bathroom Plumbing Fixtures: 2
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Garage Square Area: 977
  • Parking Space Count: 4
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 352,836
  • Total Building Area: 838
  • Building Area: 838
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 838
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000008100
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: COM E 1/4 PO SEC 23; TH S 827.03FT ALG E LI SEC 23 TO CL RIVERSIDE DR, TH N50*15'54E 56.8FT TO POB; TH N46*46'36E 557.2FT, TH

Neighborhood

  • School District Name: Ionia Public Schools
  • Census Tract: 031900

Geography

  • District: 060
  • Parcel: 34-060-024-000-065-00
  • Municipality: IONIA TOWNSHIP
  • Latitude: 42.9778
  • Longitude: -84.9752

    Address

  • Full Address: 5056 Riverside Dr
  • Address - House Number: 5056
  • Address - Street Name: Riverside
  • Address - Suffix Type: Dr
  • State: MI
  • City Name: Lyons
  • Carrier Code: R022
  • 4-Digit Zip Code: 9732
  • Zip Code: 48851

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $53,173
  • Tax Rate Code Area: 060

    Appraisal Valuation

  • Standard Deviation: 0.1887
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 75
  • Final Value: 218,649
  • High Value: 259,917
  • Low Value: 177,380

    Market Valuation

  • Market Total Value: $124,000
  • Market Land Value: $54,000
  • Market Improvement Value: $70,000

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $62,000
  • Assessed Land Value: $27,000
  • Assessed Improvements Value: $35,000

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Jul 31, 2017
  • Current Sale Recording Date: Aug 07, 2017
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 36
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 Ionia

Stats & Trends

Median Asking:

$260,000

Sale Price/ft²

$171

Below Asking

0.02%

Average Days on Market

51

Average Home Size

1988 ft²

Average Home Age

58.2 years

Currently For Sale

89 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

Click here to view more rentals in the neighborhood.
MichRIC

Listed by: Arna Spaulding, Coldwell Banker Professionals
Last Updated: 2 years ago
Data Source: MichRIC, MLS# 3513475
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 5056 Riverside Drive built and last sold?
The property at 5056 Riverside Drive was built in and last sold on Jul 31, 2017 for $134,000.
How much is this home worth?
The estimated value of the home located at 5056 Riverside Drive is $0.
What are some comparable homes to 5056 Riverside Drive?
There are currently no comparable homes to 5056 Riverside Drive.
Recent Neighborhood News
Haunted NYC Real Estate: 6 Spooky Stories Behind the Addresses
Lake House Prices Near NYC in 2026: What Waterfront Actually Costs (Labor Day Buyer's Guide)
9 New York City Seafood and Raw Bars
Why Some NYC Tenement Apartments Had Bathtubs in the Kitchen
Popular Searches
Ionia Homes for Sale
Ionia Houses for Sale
Ionia Land for Sale
Ionia Commercial for Sale
Ionia Homes with Basements
Ionia Homes with Pools
Ionia Homes with Parking
Ionia Homes with Garages
Nearby Cities
Portland Homes for Sale
Lyons Homes for Sale
Muir Homes for Sale
Hubbardston Homes for Sale
Pewamo Homes for Sale
Nearby Property Records
Ionia County, MI Property Records
Montcalm County, MI Property Records
Clinton County, MI Property Records
Kent County, MI Property Records
Gratiot County, MI Property Records
Eaton County, MI Property Records
Barry County, MI Property Records
Ingham County, MI Property Records
Nearby Counties
Easton Homes for Sale
Orleans Homes for Sale
Lyons Homes for Sale
Berlin Homes for Sale
Portland Homes for Sale
Ronald Homes for Sale
Portland Homes for Sale
North Plains Homes for Sale
Top Real Estate Agents
Top Agents in Ionia
Top Agents in 48846
Top Agents in Easton
Top Agents in Orleans
Top Agents in Lyons
Top Agents in Berlin
Top Agents in Portland
Top Agents in Portland