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Lenawee
7401 Lipp Highway
$193,000
● House - Off Market

7401 Lipp Highway

Riga, MI 49276
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,484 Ft²
$191,170
RealtyHop Estimate
3.39%
Since Sep 1, 2022
National-US
Primary Model

About This Property

Blissfield Schools - Come see this great 3 bedroom 1.5 bath home located on 1.24 acres in Riga Township.  Walk into the spacious living room with huge windows that offer lots of natural light, open formal dining room with custom planter, large open kitchen with appliance package, tons of storage and breakfast nook.  Main floor primary bedroom with 1/2 bath, 2 additional large bedrooms and additional full bath.  Full unfinished basement perfect to finish or for extra storage, whole home generator included.  Exterior features a 2 car attached garage, large outbuilding that has heat and electric perfect for storage or full workshop.  Open yard that is perfect for those summer nights!  Come see this great home before it's gone!
Unit Size
1,484 Ft²
Days on Market
60 days
Land Size
1.24 acres
Price per sqft
$125
Property Type
House
Property Taxes
$123
HOA Dues
-
Year Built
1961

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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.

Last updated: 11 months ago (MichRIC MLS #22011191)

Price History

Date / Event Date Event Price
Aug 5, 2022 Sold
Premium
Sold
Apr 5, 2022 Listed by RE/MAX MID-MICHIGAN R.E. $184,900
Listed by RE/MAX MID-MICHIGAN R.E.

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1961
  • Effective Year Built: 1961
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • 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: 1,484
  • Garage Type: 7
  • Garage Square Area: 1,480
  • Parking Space Count: 5
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 54,014
  • Total Building Area: 1,484
  • Building Area: 1,484
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 6
  • Heating: 1
  • Heated Square Feet: 1,484
  • Heating Fuel Type: 2

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000001240
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: THAT PART OF NW 1/4 SEC 2 T8S-R5E BEG AT A PT OF INTERSEC OF NW'LY LI OF R/W OF 100 FT WIDTH OF DT & I RR AND W LI SEC 2 SD PT OF INTERSEC BEING N 2 DEG 09'W ALG SD W LI 312.02 FT FROM SW COR OF NW-1/4 SEC 2 & RUNN TH N 2 DEG 09'W ALG W LI OF SEC 353

Neighborhood

  • School District Name: Blissfield Community Schools
  • School Tax School District: SCH: 46040
  • Census Tract: 062100

Zoning

  • Zoning: AA

Geography

  • District: RG0
  • Parcel: RG0-102-1680-00
  • Meridian: SEC 02 TWN 08S RNG 05E
  • Municipality: RIGA TWP
  • Latitude: 41.8112
  • Longitude: -83.8053

    Address

  • Full Address: 7401 Lipp Hwy
  • Address - House Number: 7401
  • Address - Street Name: Lipp
  • Address - Suffix Type: Hwy
  • State: MI
  • City Name: Riga
  • Carrier Code: R071
  • 4-Digit Zip Code: 9764
  • Zip Code: 49276

Valuation

    Tax

  • Tax Year: 2021
  • Tax Amount: $149,656

    Appraisal Valuation

  • Standard Deviation: 0.1086
  • Valuation Date: Jul 05, 2023
  • Confidence Score: 89
  • Final Value: 183,511
  • High Value: 203,458
  • Low Value: 163,564

    Market Valuation

  • Market Total Value: $179,200

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $89,600

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Feb 05, 1999
  • Current Sale Recording Date: Feb 05, 1999
  • Current Sale Document Type: 27
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

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MichRIC

Listed by: AJ Crownover, RE/MAX MID-MICHIGAN R.E.
Last Updated: 11 months ago
Data Source: MichRIC, MLS# 22011191
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 7401 Lipp Highway built and last sold?
The property at 7401 Lipp Highway was built in 1961 and last sold on Feb 5, 1999 for $0.
How much is this home worth?
The estimated value of the home located at 7401 Lipp Highway is $190,910.
What are some comparable homes to 7401 Lipp Highway?
There are currently no comparable homes to 7401 Lipp Highway.
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