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St. Joseph 49093
56832 Franklin Drive
$207,500
● House - Off Market

56832 Franklin Drive

Three Rivers, MI 49093
bedrooms
3 Beds
bathrooms
3 Baths
square feet
3,400 Ft²
$333,003
RealtyHop Estimate
58.95%
Since Nov 1, 2017
National-US
Primary Model

About This Property

Beautiful spot in rural neighborhood on 1.3 acres!  1700 sq ft rancher with 2 master suites and a 3rd bedroom & 3 baths!  The great room features a fireplace with built-ins and a spacious kitchen with much cabinetry and lovely granite counters.  Nice use of ceramic in great room and sliders to 2 decks,  a hot tub and then the sparkling inground pool. There is a large dining room perfect for holiday gatherings.  The lower level has a huge recreation room complete with a kitchen. The additional 24 x 30 garage has a mechanics pit and also a changing area for the pool.  All you could want for a new home!
Unit Size
3,400 Ft²
Days on Market
-
Land Size
1.35 acres
Price per sqft
$62
Property Type
House
Property Taxes
$153
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: 3 years ago (MichRIC MLS #17036812)

Price History

Date / Event Date Event Price
Sep 28, 2022 Sold
Premium
Sold
Sep 1, 2022 Listed by Berkshire Hathaway HomeServices Michigan Real Estate $329,900
Listed by Berkshire Hathaway HomeServices Michigan Real Estate
Oct 18, 2017 Sold
Premium
Sold
Jul 24, 2017 Listed by Berkshire Hathaway HomeServices Michigan Real Estate $209,500
Listed by Berkshire Hathaway HomeServices Michigan Real Estate

Property Highlights

Garage
Air Conditioning
Fireplace

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: 59,242
  • Lot Size Depth Feet: 2,500
  • Lot Size Frontage Feet: 1,500
  • 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: R
  • Subdivision: CHERRY LANE SUB
  • Land Acres: 0000001360
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: COM NE COR LOT 7 CHERRY LANESUB SEC 6 T6S R11W TH N 05D 14M 45S W 173.28 FT TH N 00D 07M 18S W 157.65 FTTO POB TH W 341.15 FT

Neighborhood

  • School District Name: Three Rivers Community Schools
  • School Tax School District: THREE RIVERS
  • Census Tract: 040100

Geography

  • District: 009
  • Parcel: 009-006-025-00
  • Lot: 7
  • Meridian: SEC 06 TWN 06S RNG 11W
  • Municipality: LOCKPORT TOWNSHIP
  • Latitude: 41.9717
  • Longitude: -85.6282

    Address

  • Full Address: 56832 Franklin Dr
  • Address - House Number: 56832
  • Address - Street Name: Franklin
  • Address - Suffix Type: Dr
  • State: MI
  • City Name: Three Rivers
  • Carrier Code: R002
  • 4-Digit Zip Code: 9009
  • Zip Code: 49093

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $137,618

    Appraisal Valuation

  • Standard Deviation: 0.2454
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 65
  • Final Value: 329,131
  • High Value: 409,914
  • Low Value: 248,347

    Market Valuation

  • Market Total Value: $259,000
  • Market Land Value: $15,400
  • Market Improvement Value: $243,600

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $129,500
  • Assessed Land Value: $7,700
  • Assessed Improvements Value: $121,800

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Sep 23, 2022
  • Current Sale Recording Date: Sep 28, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 8481
  • Previous Sale Recording Date: Oct 18, 2017
  • Previous Sale Contract Date: Oct 11, 2017
  • Previous Sale Amount: $207,500
  • Previous 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 St. Joseph

Stats & Trends

Median Asking:

$240,000

Sale Price/ft²

$153

Above Asking

0.00%

Average Days on Market

58

Average Home Size

2070 ft²

Average Home Age

73.8 years

Currently For Sale

147 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: Kathleen A Mastaglio, Berkshire Hathaway HomeServices Michigan Real Estate
Last Updated: 3 years ago
Data Source: MichRIC, MLS# 17036812
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 56832 Franklin Drive built and last sold?
The property at 56832 Franklin Drive was built in and last sold on Sep 23, 2022 for $325,000.
How much is this home worth?
The estimated value of the home located at 56832 Franklin Drive is $0.
What are some comparable homes to 56832 Franklin Drive?
There are currently no comparable homes to 56832 Franklin Drive.
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