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Allegan 49078
587 Lincoln Road
$219,000
● House - Off Market

587 Lincoln Road

Otsego, MI 49078
bedrooms
2 Beds
bathrooms
1 Bath
square feet
1,008 Ft²
$1,239
Est. Monthly
5.68%
Cap Rate

About This Property

Come see how much more you can get by buying this home instead of renting!  This home is a for the hobby enthusiast if you would need an oversized 4 stall garage with plenty of storage and work space, pull down stairs to an attic and access to the fenced backyard!  The home has 2 bedrooms and a full bath with laundry room. Good size kitchen with appliances included with sliders to backyard.  Open living to dining area and kitchen.  New flooring throughout.  Updated kitchen cupboards and counter.  Updated paint throughout.  Sit out on your deck and relax in your large totally fenced back yard!  So much more you will get instead or renting!  Come see today!
Unit Size
1,008 Ft²
Days on Market
40 days
Land Size
0.69 acres
Price per sqft
$213
Property Type
House
Property Taxes
$183
HOA Dues
-
Year Built
1993

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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 #25013116)

Price History

Date / Event Date Event Price
May 12, 2025 Sold
Premium
Sold
Apr 6, 2025 In contract -
In contract
Apr 2, 2025 Listed by Success Realty West Michigan $214,900
Listed by Success Realty West Michigan
Nov 13, 2020 Sold
Premium
Sold
Sep 16, 2020 Listed by Success Realty West Michigan $124,900
Listed by Success Realty West Michigan
Show More

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1993
  • Effective Year Built: 1993
  • Building Count: 1
  • Bedroom Count: 0
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 11
  • Exterior Walls Type: 17
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Garage Square Area: 720
  • Parking Space Count: 3
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 29,229
  • Lot Size Depth Feet: 2,521
  • Lot Size Frontage Feet: 1,160
  • Total Building Area: 1,008
  • Building Area: 1,008
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,008
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000671
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: COM AT NW COR TH E 758.85' TH S 126.2' TO POB TH S 57 DEG 53'00 W 260' TO C/L M 89 TH S 32 DEG 7'00 E 115' TH N 57 DEG 53'00

Neighborhood

  • School District Name: Otsego Public Schools
  • School Tax School District: OTSEGO 20
  • Census Tract: 031800

Zoning

  • Zoning: AG

Geography

  • District: 17
  • Parcel: 17-021-041-00
  • Meridian: SEC 21 TWN 01N RNG 12W
  • Municipality: OTSEGO TWP
  • Latitude: 42.464
  • Longitude: -85.7375

    Address

  • Full Address: 587 Lincoln Rd
  • Address - House Number: 587
  • Address - Street Name: Lincoln
  • Address - Suffix Type: Rd
  • State: MI
  • City Name: Otsego
  • Carrier Code: R003
  • 4-Digit Zip Code: 1006
  • Zip Code: 49078

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $185,404

    Appraisal Valuation

  • Standard Deviation: 0.2543
  • Valuation Date: Dec 07, 2022
  • Confidence Score: 64
  • Final Value: 178,110
  • High Value: 223,414
  • Low Value: 132,806

    Market Valuation

  • Market Total Value: $116,800
  • Market Land Value: $12,000
  • Market Improvement Value: $104,800

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $58,400
  • Assessed Land Value: $6,000
  • Assessed Improvements Value: $52,400

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Oct 28, 2020
  • Current Sale Recording Date: Nov 13, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Previous Sale Recording Date: Jun 23, 2016
  • Previous Sale Contract Date: Jun 17, 2016
  • Previous Sale Amount: $84,500
  • 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 Allegan

Stats & Trends

Median Asking:

$365,000

Sale Price/ft²

$202

Below Asking

0.02%

Average Days on Market

52

Average Home Size

2157 ft²

Average Home Age

49.3 years

Currently For Sale

320 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

Click here to view more rentals in the neighborhood.
MichRIC

Listed by: Kristine R Potyraj, Success Realty West Michigan
Last Updated: 2 years ago
Data Source: MichRIC, MLS# 25013116
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 587 Lincoln Road built and last sold?
The property at 587 Lincoln Road was built in 1993 and last sold on Oct 28, 2020 for $135,000.
How much is this home worth?
The estimated value of the home located at 587 Lincoln Road is $0.
What are some comparable homes to 587 Lincoln Road?
There are currently no comparable homes to 587 Lincoln Road.
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