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Ann Arbor 48103 North Area
508 Miller Avenue
$595,000
● House - Off Market

508 Miller Avenue

Ann Arbor, MI 48103
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,387 Ft²
$3,822
Est. Monthly
4.44%
Cap Rate

About This Property

Charming Dutch Colonial in the desirable lower Water Hill neighborhood! This well-designed semi-open floor plan offers a welcoming foyer, bright living room with large windows, and spacious dining area. The updated kitchen features granite countertops and stainless steel appliances. A first-floor bedroom and full bath add flexibility. Upstairs, find two bedrooms, one perfect for a home office, plus another full bath. The basement includes a laundry area, two storage rooms, and bonus space ideal for an office, craft room, or workshop. Relax on the inviting front porch and enjoy urban living with easy walks to Big City Bakery, Knights Market, West Park, and downtown Ann Arbor! Great single family home or rental property. Home energy score of 4. Owner is licensed Realtor.
Unit Size
1,387 Ft²
Days on Market
-
Land Size
0.07 acres
Price per sqft
$429
Property Type
House
Property Taxes
$900
HOA Dues
-
Year Built
1918

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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 #25017924)

Price History

Date / Event Date Event Price
Nov 1, 2025 No longer available -
No longer available
Jun 20, 2025 Sold
Premium
Sold
Jun 1, 2025 No longer available -
No longer available
May 28, 2025 In contract -
In contract
May 15, 2025 Price Decreased $549,000
↓ $26K (4.5%)
Price Decreased
Show More

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1918
  • Effective Year Built: 1918
  • Bedroom Count: 0
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 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: 200
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 786
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 3,136
  • Lot Size Frontage Feet: 0
  • Total Building Area: 1,238
  • Building Area: 1,238
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,238
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: DOUGLAS MCOMBER RYANS SUBDIVISION
  • Land Acres: 0000000072
  • Standard Land Use Code: 1000
  • Legal Description 1: SE 35 FT LOT 4 DOUGLAS MC OMBER & RYANS SUBD

Neighborhood

  • School District Name: Ann Arbor Public Schools
  • School Tax School District: ANN ARBOR
  • Census Tract: 400700

Zoning

  • Zoning: R2A

Geography

  • District: 09
  • Parcel: 09-09-29-220-016
  • Block: 220
  • Lot: 4
  • Meridian: SEC 29 TWN 2S RNG 6E
  • Municipality: ANN ARBOR CITY
  • Latitude: 42.2843
  • Longitude: -83.7531

    Address

  • Full Address: 508 Miller Ave
  • Address - House Number: 508
  • Address - Street Name: Miller
  • Address - Suffix Type: Ave
  • State: MI
  • City Name: Ann Arbor
  • Carrier Code: C101
  • 4-Digit Zip Code: 3342
  • Zip Code: 48103

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $772,979
  • Tax Rate Code Area: 09

    Appraisal Valuation

  • Standard Deviation: 0.1769
  • Valuation Date: Nov 15, 2023
  • Confidence Score: 77
  • Final Value: 472,319
  • High Value: 555,875
  • Low Value: 388,763

    Market Valuation

  • Market Total Value: $296,000

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $148,000

    Sales

  • Current Sale Contract Date: Dec 13, 2022
  • Current Sale Recording Date: Dec 19, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 6673516
  • Previous Sale Recording Date: Sep 08, 2021
  • Previous Sale Contract Date: Aug 11, 2021
  • Previous Sale Amount: $400,000
  • Previous Sale Document Type: 71

    Financing

  • First Mortgage Financing Type: ADJ
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 West Ann Arbor

Stats & Trends

Median Asking:

$480,000

Sale Price/ft²

$290

Below Asking

0.01%

Average Days on Market

43

Average Home Size

1540 ft²

Average Home Age

57.8 years

Currently For Sale

72 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 612 Leona Drive, Ann Arbor, MI, 48103

$2,950 /mo

  • 3 Beds
  • 1 Bath
  • 1,345 ft²
612 Leona Drive, Ann Arbor, MI, 48103 Listing by Elizabeth Martin
Unit for rent at 332 E Washington Street, Ann Arbor, MI, 48104

$3,400 /mo

  • 3 Beds
  • 1 Bath
  • 4,450 ft²
332 E Washington Street, Ann Arbor, MI, 48104 Listing by William Milliken

Rentals Near You

Click here to view more rentals in the neighborhood.
MichRIC

Listed by: Stephanie Flood, Howard Hanna Real Estate
Last Updated: 2 years ago
Data Source: MichRIC, MLS# 25017924
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 508 Miller Avenue built and last sold?
The property at 508 Miller Avenue was built in 1918 and last sold on Dec 13, 2022 for $407,000.
How much is this home worth?
The estimated value of the home located at 508 Miller Avenue is $0.
What are some comparable homes to 508 Miller Avenue?
There are currently no comparable homes to 508 Miller Avenue.
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