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Three Rivers 49093
623 E Hoffman Street
$261,000
● House - Off Market

623 E Hoffman Street

Three Rivers, MI 49093
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,596 Ft²
$1,602
Est. Monthly
4.98%
Cap Rate

About This Property

WHAT A PACKAGE!!!. Great potential and added value.   3Bedroom 2Full bathroom, approx 1500 square feet home on 7+ acres and private river frontage in the City of Three Rivers - this is a fabulous, centralized location! As a 1900's home there has been many updates, but it also is a great opportunity for you to make it your own. The awesome living area with fireplace, large windows and 3 season front porch will instantly make you feel at home. This is city living; but it has all the amenities of the country. The 528ft of private frontage on the Portage River, partially fenced area for large animals makes this property unique for all of you and your family's recreational activities! The acreage also has added value to be split and further developed. R4 zoning district.
Unit Size
1,596 Ft²
Days on Market
46 days
Land Size
7.04 acres
Price per sqft
$166
Property Type
House
Property Taxes
$301
HOA Dues
-
Year Built
1900

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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: 7 months ago (MichRIC MLS #24059744)

Price History

Date / Event Date Event Price
Mar 18, 2025 Sold
Premium
Sold
Feb 8, 2025 In contract -
In contract
Feb 1, 2025 Relisted $215,000
Relisted
Dec 28, 2024 In contract -
In contract
Nov 16, 2024 Listed by eXp Realty LLC $264,900
Listed by eXp Realty LLC
Show More

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1900
  • Effective Year Built: 1900
  • Building Count: 2
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • 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 Count: 150
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 1,112
  • Garage Type: 7
  • Garage Square Area: 308
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 314,068
  • Lot Size Depth Feet: 2,000
  • Lot Size Frontage Feet: 4,000
  • Total Building Area: 1,814
  • Building Area: 1,814
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,814
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: CITY OF THREE RIVERS
  • Land Acres: 0000007210
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: OUT LOTS 16 & 17 EXC BEG AT NW COR OF LOT 16 TH S 100 FT TH E 100 FT TH N 100 FT TO HOFFMAN TH W TO POBPO RTAGE ADD CITY OF T

Neighborhood

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

Zoning

  • Zoning: R

Geography

  • District: 051
  • Parcel: 051-155-026-00
  • Lot: 16-17
  • Municipality: THREE RIVERS CITY
  • Latitude: 41.9545
  • Longitude: -85.6261

    Address

  • Full Address: 623 E Hoffman St
  • Address - House Number: 623
  • Street Direction: E
  • Address - Street Name: Hoffman
  • Address - Suffix Type: St
  • State: MI
  • City Name: Three Rivers
  • Carrier Code: C004
  • 4-Digit Zip Code: 1382
  • Zip Code: 49093

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $234,839

    Appraisal Valuation

  • Standard Deviation: 0.2578
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 63
  • Final Value: 216,079
  • High Value: 271,795
  • Low Value: 160,362

    Market Valuation

  • Market Total Value: $156,800
  • Market Land Value: $36,800
  • Market Improvement Value: $120,000

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $78,400
  • Assessed Land Value: $18,400
  • Assessed Improvements Value: $60,000

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Aug 04, 2022
  • Current Sale Recording Date: Aug 18, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 7312
  • Previous Sale Recording Date: Jul 26, 2016
  • Previous Sale Contract Date: Jul 19, 2016
  • Previous Sale Amount: $120,000
  • 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 Three Rivers

Stats & Trends

Median Asking:

$184,900

Sale Price/ft²

$134

Below Asking

0.03%

Average Days on Market

65

Average Home Size

1969 ft²

Average Home Age

61.7 years

Currently For Sale

29 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: Ahmed ''Ali'' Khalil, eXp Realty LLC
Last Updated: 7 months ago
Data Source: MichRIC, MLS# 24059744
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 623 East Hoffman Street built and last sold?
The property at 623 East Hoffman Street was built in 1900 and last sold on Aug 4, 2022 for $215,000.
How much is this home worth?
The estimated value of the home located at 623 East Hoffman Street is $259,792.
What are some comparable homes to 623 East Hoffman Street?
There are currently no comparable homes to 623 East Hoffman Street.
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