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Albion 49224
515 Maple Ridge
$160,000
● House - Off Market

515 Maple Ridge

Albion, MI 49224
bedrooms
4 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,242 Ft²
$910
Est. Monthly
17.79%
Cap Rate

About This Property

CALL LORI STURDEVANT FOR YOUR OPPORTUNITY TO TOUR THIS ADORABLE 4 BED, 1.5 BATH EFFICIENT HOME.  The home is tucked in on a corner quiet lot in the City of Albion. New Roof and appliances are just the start to all the great things about this home. Hardwood floors. The full open basement offers great potential for added living or recreation space. Upstairs features unique rooms with warm knotty pine craftsman-style woodwork that adds timeless character.  The attached garage and additional shed provide ample storage.  Enjoy a private cozy backyard-ideal for carving out a relaxing spot. Nicely landscaped yard enhances the curb appeal. Along with vinyl siding and a brand new roof, leaves very little exterior maintenance!
Unit Size
1,242 Ft²
Days on Market
51 days
Land Size
0.16 acres
Price per sqft
$129
Property Type
House
Property Taxes
$124
HOA Dues
-
Year Built
1950

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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 #25029016)

Price History

Date / Event Date Event Price
Aug 7, 2025 Sold
Premium
Sold
Jun 20, 2025 In contract -
In contract
Jun 17, 2025 Listed by Berkshire Hathaway HomeServices Michigan Real Estate $159,900
Listed by Berkshire Hathaway HomeServices Michigan Real Estate
Sep 25, 2012 Sold
Premium
Sold

Property Highlights

Garage

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1950
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • 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 Cover: 0
  • Basement Type: 9
  • Basement Area: 720
  • Garage Type: 7
  • Garage Square Area: 320
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,926
  • Lot Size Depth Feet: 950
  • Lot Size Frontage Feet: 607
  • Total Building Area: 1,071
  • Building Area: 1,071
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,071
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: MAPLE RIDGE SUBDIVISION
  • Land Acres: 0000000159
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: ALBION CITY, MAPLE RIDGE SUBDIVISION LOT 10

Neighborhood

  • School District Name: Albion Public Schools
  • School Tax School District: ALBION
  • Census Tract: 003500

Zoning

  • Zoning: R1C

Geography

  • District: 51
  • Parcel: 51-008-010-00
  • Lot: 10
  • Municipality: ALBION CITY
  • Latitude: 42.2528
  • Longitude: -84.7458

    Address

  • Full Address: 515 Maple Rdg
  • Address - House Number: 515
  • Address - Street Name: Maple
  • Address - Suffix Type: Rdg
  • State: MI
  • City Name: Albion
  • Carrier Code: C002
  • 4-Digit Zip Code: 1323
  • Zip Code: 49224

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $128,305
  • Initial Tax Delinquent Year: 2016

    Appraisal Valuation

  • Standard Deviation: 0.4721
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 5
  • Final Value: 110,788
  • High Value: 163,101
  • Low Value: 58,474

    Market Valuation

  • Market Total Value: $75,600

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $37,800

    Sales

  • Current Sale Contract Date: Aug 09, 2012
  • Current Sale Recording Date: Sep 25, 2012
  • Current Sale Price:
    Premium
  • Current 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 Albion

Stats & Trends

Median Asking:

$135,000

Sale Price/ft²

$103

Below Asking

0.07%

Average Days on Market

73

Average Home Size

1488 ft²

Average Home Age

107.6 years

Currently For Sale

16 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: Lori Sturdevant, Berkshire Hathaway HomeServices Michigan Real Estate
Last Updated: 2 years ago
Data Source: MichRIC, MLS# 25029016
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 515 Maple Ridge built and last sold?
The property at 515 Maple Ridge was built in 1950 and last sold on Aug 9, 2012 for $22,500.
How much is this home worth?
The estimated value of the home located at 515 Maple Ridge is $0.
What are some comparable homes to 515 Maple Ridge?
There are currently no comparable homes to 515 Maple Ridge.
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