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Hillsdale 49255
7821 Island Drive
$21,000
● Land - Off Market

7821 Island Drive

Reading, MI 49255
bedrooms
Studio
bathrooms
0 Bath
$42,895
RealtyHop Estimate
72.27%
Since May 1, 2016
National-US
Primary Model

About This Property

Lake Front Package... this secluded water front lot is located on the prestigious and quaint Riebeck Lake chain in Hillsdale County, Michigan. Excellent fishing, wooded lot, spectacular views are all included in this memory maker package. Surrounded by nature and widlife...you'll be in heaven enjoying this one!! Lot # 30 Potowatomi Woods. 90 ft. of private water front! (6462)
Unit Size
-
Days on Market
-
Land Size
0.19 acres
Price per sqft
-
Property Type
Land
Property Taxes
$61
HOA Dues
-
Year Built
-

Payment Calculator

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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 #2807142)

Price History

Date / Event Date Event Price
Apr 21, 2016 Sold
Premium
Sold
Feb 15, 2008 Listed by CENTURY 21 Affiliated $24,900
Listed by CENTURY 21 Affiliated
May 18, 2005 Sold
Premium
Sold

Property Highlights

Building Info

Overview

    General

  • Bedroom Count: 0
  • 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 Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,706
  • Lot Size Depth Feet: 930
  • Lot Size Frontage Feet: 610
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: V
  • Subdivision: POTOWATOMI WOODS
  • Land Acres: 0000000131
  • Standard Land Use Code: 8001
  • County Land Use Code: 402
  • Legal Description 1: LOT 30 POTOWATOMI WOODS SEC 31 T7S R4W

Neighborhood

  • School District Name: Reading Community Schools
  • Census Tract: 050400

Zoning

  • Zoning: ZONING

Geography

  • District: 10
  • Parcel: 10-180-001-026
  • Lot: 30
  • Meridian: SEC 31 TWN 07S RNG 04W
  • Municipality: READING TWP
  • Latitude: 41.8129
  • Longitude: -84.8091

    Address

  • Full Address: 7821 Island Dr
  • Address - House Number: 7821
  • Address - Street Name: Island
  • Address - Suffix Type: Dr
  • State: MI
  • City Name: Montgomery
  • Carrier Code: R051
  • 4-Digit Zip Code: 9711
  • Zip Code: 49255

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $10,945

    Market Valuation

  • Market Total Value: $30,580
  • Market Land Value: $30,580

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $15,300

    Sales

  • Current Sale Contract Date: Apr 20, 2016
  • Current Sale Recording Date: Apr 21, 2016
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Previous Sale Recording Date: May 18, 2005
  • Previous Sale Contract Date: May 13, 2005
  • Previous Sale Amount: $43,000
  • 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 Hillsdale

Stats & Trends

Median Asking:

$249,900

Sale Price/ft²

$150

Below Asking

0.02%

Average Days on Market

61

Average Home Size

1895 ft²

Average Home Age

88.4 years

Currently For Sale

107 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: Rick Roth, CENTURY 21 Affiliated
Last Updated: 3 years ago
Data Source: MichRIC, MLS# 2807142
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 7821 Island Drive built and last sold?
The property at 7821 Island Drive was built in and last sold on Apr 20, 2016 for $21,000.
How much is this home worth?
The estimated value of the home located at 7821 Island Drive is $0.
What are some comparable homes to 7821 Island Drive?
There are currently no comparable homes to 7821 Island Drive.
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