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Lenawee 49265
7385 Reed Road
$496,000
● House - Off Market

7385 Reed Road

Onsted, MI 49265
bedrooms
4 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
3,261 Ft²
$496,782
RealtyHop Estimate
-0.62%
Since Oct 1, 2023
National-US
Primary Model

About This Property

You will love to come home to your new home! With over three acres, 4 bedrooms, 2.5 bathrooms, two living spaces you will have all the room for your growing family. AND, then there is the most amazing pole barn with two garage doors with one being 14 feet, radiant floor heat, two upper 12x12 storage areas, 200 amp. service and more. The current owner has taken great care with new paint, carpet, all new appliances, water softener and reverse osmoses. Walkout lower level has been finished and plumbed for the fourth bathroom.  An additional lot is available for lake association access to Loch Erin.
Unit Size
3,261 Ft²
Days on Market
-
Land Size
3.35 acres
Price per sqft
$153
Property Type
House
Property Taxes
$433
HOA Dues
-
Year Built
2005

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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 #23017519)

Price History

Date / Event Date Event Price
Sep 15, 2023 Sold
Premium
Sold
May 26, 2023 Listed by RE/MAX IRISH HILLS REALTY $499,900
Listed by RE/MAX IRISH HILLS REALTY
Oct 6, 2021 No longer available -
No longer available
Dec 22, 2020 Sold
Premium
Sold
Nov 5, 2020 In contract -
In contract
Show More

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 2005
  • Effective Year Built: 2005
  • Bedroom Count: 0
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 0
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 11
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 1,831
  • Garage Type: 7
  • Garage Square Area: 2,592
  • Parking Space Count: 9
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 145,926
  • Total Building Area: 1,831
  • Building Area: 1,831
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,831
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000003350
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: LD DES AS BEG ON THE CNTRLI OF REED RD (66 FT WD) 1317.89 FT S01^30'20"W ALG THE N-S 1/4 LI OF SEC 36 T5S R2E & 662.48 FT S88^17'27"E FROM THE N1/4 COR OF SD SEC TH S88^17'27"E 331.50 FT CONT ALG THE SD CNTRLI OF REED RD TH S01^30'20"W 440 FT TH N88^

Neighborhood

  • School District Name: Onsted Community Schools
  • School Tax School District: SCH: 46110
  • Census Tract: 060301

Zoning

  • Zoning: RE

Geography

  • District: CA0
  • Parcel: CA0-136-2660-00
  • Meridian: SEC 36 TWN 05S RNG 02E
  • Municipality: CAMBRIDGE TWP
  • Latitude: 41.9974
  • Longitude: -84.1378

    Address

  • Full Address: 7385 Reed Rd
  • Address - House Number: 7385
  • Address - Street Name: Reed
  • Address - Suffix Type: Rd
  • State: MI
  • City Name: Onsted
  • Carrier Code: R002
  • 4-Digit Zip Code: 9595
  • Zip Code: 49265

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $510,486

    Appraisal Valuation

  • Standard Deviation: 0.1077
  • Valuation Date: Sep 21, 2023
  • Confidence Score: 89
  • Final Value: 495,074
  • High Value: 548,396
  • Low Value: 441,752

    Market Valuation

  • Market Total Value: $386,000

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $193,000

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Dec 10, 2020
  • Current Sale Recording Date: Dec 22, 2020
  • Current Sale Price:
    Premium
  • Current 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 Lenawee

Stats & Trends

Median Asking:

$260,000

Sale Price/ft²

$160

Below Asking

0.02%

Average Days on Market

55

Average Home Size

1989 ft²

Average Home Age

67.8 years

Currently For Sale

86 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

Unit for rent at 9919 Sand Lake Highway, Onsted, MI, 49265

$2,100 /mo

  • 3 Beds
  • 2 Baths
  • 1,932 ft²
9919 Sand Lake Highway, Onsted, MI, 49265 Listing by JENIFER SCANLON

Rentals Near You

Click here to view more rentals in the neighborhood.
MichRIC

Listed by: SUZIE CREECH, RE/MAX IRISH HILLS REALTY
Last Updated: 3 years ago
Data Source: MichRIC, MLS# 23017519
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 7385 Reed Road built and last sold?
The property at 7385 Reed Road was built in 2005 and last sold on Dec 10, 2020 for $320,000.
How much is this home worth?
The estimated value of the home located at 7385 Reed Road is $0.
What are some comparable homes to 7385 Reed Road?
There are currently no comparable homes to 7385 Reed Road.
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