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Niles 49120
531 Cherry Street
$21,900
● House - Off Market

531 Cherry Street

Niles, MI 49120
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,176 Ft²
$35,707
RealtyHop Estimate
63.05%
Since May 1, 2017
National-US
Primary Model

About This Property

3 Bed, 1.5 bath home located in Niles, MI. This is a spacious home on a nice sized lot. The interior of this home will need some updating to the kitchen and bathrooms but overall is a great home. This home has a lot of potential!
Unit Size
1,176 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$19
Property Type
House
Property Taxes
$111
HOA Dues
-
Year Built
-

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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: 3 years ago (MichRIC MLS #16060533)

Price History

Date / Event Date Event Price
Apr 10, 2017 Sold
Premium
Sold
Dec 20, 2016 Sold
Premium
Sold
Dec 19, 2016 Listed by USREALTY.COM LLP $21,900
Listed by USREALTY.COM LLP

Property Highlights

Building Info

Overview

    General

  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • 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: 408
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,447
  • Lot Size Depth Feet: 1,150
  • Lot Size Frontage Feet: 560
  • Total Building Area: 1,176
  • Building Area: 1,176
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,176
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: C K GREEN & H B & G W HOFFMANS ADDITION
  • Land Acres: 0000000148
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: PRT OF OUT LOT 31 GREEN & HOFFMANS OUT LOTS CITY OF NILES COM 40' W OF SE COR OF SAID LOT TH N 115.5' W 56' S 115.5' E 56' TO

Neighborhood

  • School District Name: Niles Community School District
  • School Tax School District: NILES
  • Census Tract: 020700

Zoning

  • Zoning: LDR

Geography

  • Assessors Map Reference: 035-2
  • District: 73
  • Parcel: 73-2730-0031-02-1
  • Lot: 31
  • Municipality: NILES CITY
  • Latitude: 41.8246
  • Longitude: -86.2507

    Address

  • Full Address: 531 Cherry St
  • Legal Unit: 31,S
  • Address - House Number: 531
  • Address - Street Name: Cherry
  • Address - Suffix Type: St
  • State: MI
  • City Name: Niles
  • Carrier Code: C019
  • 4-Digit Zip Code: 3246
  • Zip Code: 49120

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $90,690

    Appraisal Valuation

  • Standard Deviation: 0.3113
  • Valuation Date: Nov 03, 2023
  • Confidence Score: 37
  • Final Value: 85,596
  • High Value: 112,249
  • Low Value: 58,942

    Market Valuation

  • Market Total Value: $85,600

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $42,800

    Sales

  • Current Sale Contract Date: Apr 06, 2017
  • Current Sale Recording Date: Apr 10, 2017
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Previous Sale Recording Date: Dec 20, 2016
  • Previous Sale Contract Date: Nov 22, 2016
  • Previous Sale Amount: $10,875
  • Previous Sale Document Type: 27
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 Niles

Stats & Trends

Median Asking:

$185,000

Sale Price/ft²

$137

Below Asking

0.02%

Average Days on Market

52

Average Home Size

1553 ft²

Average Home Age

78.2 years

Currently For Sale

31 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: Ryan Gehris, USREALTY.COM LLP
Last Updated: 3 years ago
Data Source: MichRIC, MLS# 16060533
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 531 Cherry Street built and last sold?
The property at 531 Cherry Street was built in and last sold on Apr 6, 2017 for $21,900.
How much is this home worth?
The estimated value of the home located at 531 Cherry Street is $0.
What are some comparable homes to 531 Cherry Street?
There are currently no comparable homes to 531 Cherry Street.
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