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Reading 49274
518 W Silver Street
$11,000
● Land - Off Market

518 W Silver Street

Reading, MI 49274
bedrooms
Studio
bathrooms
0 Bath
$75
Est. Monthly

About This Property

Buildable lot in the City of Reading. Public Water, Public Sewer, Electric and Natural Gas available at the street. This lot offers privacy at the end of Silver St. Seller financing available. Additional property available see MLS #25011407 (W. Elm St), 25011408 (W. Silver St Parcel #1), 25011409 (W. Silver St Parcel #2) & 25011410 (W. Silver St Parcel #3).
Unit Size
-
Days on Market
143 days
Land Size
0.31 acres
Price per sqft
-
Property Type
Land
Property Taxes
$10
HOA Dues
-
Year Built
-

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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 #25011406)

Price History

Date / Event Date Event Price
Aug 14, 2025 Sold
Premium
Sold
Aug 12, 2025 In contract -
In contract
May 29, 2025 Price Decreased $13,300
↓ $700 (5%)
Price Decreased
Apr 25, 2025 Price Decreased $14,000
↓ $1K (6.7%)
Price Decreased
Mar 24, 2025 Listed by RE/MAX IRISH HILLS REALTY $15,000
Listed by RE/MAX IRISH HILLS REALTY

Property Highlights

Building Info

Overview

    General

  • Bedroom Count: 0
  • 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: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 13,634
  • Lot Size Depth Feet: 1,650
  • Lot Size Frontage Feet: 820
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: V
  • Subdivision: THOMAS ADD
  • Land Acres: 0000000313
  • Standard Land Use Code: 8001
  • County Land Use Code: 402
  • Legal Description 1: LOT 13 THOMAS ADD SEC 27 T7S R4W CITY OF READING SPLIT ON 12/18/2008 FROM 20 095 001 010;

Neighborhood

  • School District Name: Reading Community Schools
  • Census Tract: 050400

Zoning

  • Zoning: R1LDRES

Geography

  • District: 20
  • Parcel: 20-095-001-023
  • Lot: 13
  • Meridian: SEC 27 TWN 07S RNG 04W
  • Municipality: CITY OF READING
  • Latitude: 41.8382
  • Longitude: -84.7553

    Address

  • Full Address: 518 W Silver St
  • Address - House Number: 518
  • Street Direction: W
  • Address - Street Name: Silver
  • Address - Suffix Type: St
  • State: MI
  • City Name: Reading
  • Carrier Code: R777
  • 4-Digit Zip Code: 9124
  • Zip Code: 49274

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $4,661

    Market Valuation

  • Market Total Value: $8,448
  • Market Land Value: $8,448

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $4,200
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 Reading

Stats & Trends

Median Asking:

$179,900

Sale Price/ft²

$96

Below Asking

0.04%

Average Days on Market

89

Average Home Size

1377 ft²

Average Home Age

112 years

Currently For Sale

2 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

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MichRIC

Listed by: Mark Riggle, RE/MAX IRISH HILLS REALTY
Last Updated: 2 years ago
Data Source: MichRIC, MLS# 25011406
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 518 West Silver Street built and last sold?
The property at 518 West Silver Street was built in and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 518 West Silver Street is $13,433.
What are some comparable homes to 518 West Silver Street?
There are currently no comparable homes to 518 West Silver Street.
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