570 W Summit Street
About This Property
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Feb 7, 2025 | Listed by Real Estate One | $425,000 | |
| Listed by Real Estate One | |||
| Dec 19, 2024 | No longer available | - | |
| No longer available | |||
| Sep 24, 2024 | Listed by Coldwell Banker Professionals | $449,000 | |
| Listed by Coldwell Banker Professionals | |||
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Exceptional opportunity to own a rare and hard-to-find vacant lot in the highly sought-after Water Hill Neighborhood, one of Ann Arbor's most desirable locations. This expansive 5,958-square-foot lot, with flexible R2A/2 family dwelling district zoning , offers endless possibilities—whether you're looking to build your custom dream home, a duplex or even a dream home with an ADU. Enjoy walking distance to Kerrytown, downtown Ann Arbor, Ann Arbor schools, beautiful parks, the Argo Cascades and enjoy being directly across the street from a beloved neighborhood park. With frontage on both West Summit and Fountain streets, you'll have incredible flexibility in design and layout. City water and sewer are available. Lot is a recent split with taxes to be assessed in 2025.
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Property Highlights
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Price/ft²
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About West Ann Arbor
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
$3,800 /mo
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$2,300 /mo
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Last Updated: 2 years ago
Data Source: MichRIC, MLS# 25004601
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