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Otsego 49078
802 Eley Street
$360,000
● House - Off Market

802 Eley Street

Otsego, MI 49078
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,440 Ft²
$1,792
Est. Monthly
5.90%
Cap Rate

About This Property

Beautiful newly constructed ranch home with large covered front porch, open plan, living room, dining area with slider to patio, kitchen with island, granite countertops, stainless appliances and nearby pantry closet. Primary suite with full bathroom and walk-in closet, 2 additional bedrooms and full bathroom. Deep laundry closet. Back entry with bench and closet. Lower level with egress windows, plumbed for bathroom. 2-stall attached garage. Yard is hydromulched, no landscaping.
Unit Size
1,440 Ft²
Days on Market
-
Land Size
0.31 acres
Price per sqft
$253
Property Type
House
Property Taxes
$0
HOA Dues
-
Year Built
-

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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 #24022769)

Price History

Date / Event Date Event Price
Jun 26, 2024 Sold
Premium
Sold
Jun 13, 2024 In contract -
In contract
Jun 5, 2024 Price Decreased $364,900
↓ $5K (1.4%)
Price Decreased
May 9, 2024 Listed by RE/MAX of Grand Rapids (Wyomg) $369,900
Listed by RE/MAX of Grand Rapids (Wyomg)
Dec 27, 2023 Sold
Premium
Sold
Show More

Property Highlights

Garage
Air Conditioning

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: 13,634
  • Lot Size Depth Feet: 1,000
  • Lot Size Frontage Feet: 1,328
  • 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: ELEY ACRES VI
  • Land Acres: 0000000313
  • Standard Land Use Code: 8001
  • County Land Use Code: 402
  • Legal Description 1: LOT 145 ELEY ACRES VI SEC 26 T1N R12W (03).

Neighborhood

  • School District Name: Otsego Public Schools
  • School Tax School District: OTSEGO 20
  • Census Tract: 031900

Geography

  • District: 54
  • Parcel: 54-278-145-00
  • Lot: 145
  • Meridian: SEC 26 TWN 01N RNG 12W
  • Municipality: OTSEGO CITY
  • Latitude: 42.4493
  • Longitude: -85.6816

    Address

  • Full Address: 802 Eley St
  • Address - House Number: 802
  • Address - Street Name: Eley
  • Address - Suffix Type: St
  • State: MI
  • City Name: Otsego
  • Carrier Code: C003
  • 4-Digit Zip Code: 2502
  • Zip Code: 49078

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $59,482

    Market Valuation

  • Market Total Value: $20,000
  • Market Land Value: $20,000

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $10,000
  • Assessed Land Value: $10,000

    Sales

  • Current Sale Contract Date: Dec 18, 2023
  • Current Sale Recording Date: Dec 27, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 18770
  • Previous Sale Recording Date: Jul 29, 2020
  • Previous Sale Contract Date: Jul 17, 2020
  • Previous Sale Amount: $17,500
  • 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 Otsego

Stats & Trends

Median Asking:

$230,000

Sale Price/ft²

$149

Below Asking

0.01%

Average Days on Market

50

Average Home Size

1330 ft²

Average Home Age

103.5 years

Currently For Sale

13 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

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MichRIC

Listed by: David M VanderWoude, RE/MAX of Grand Rapids (Wyomg)
Last Updated: 2 years ago
Data Source: MichRIC, MLS# 24022769
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 802 Eley Street built and last sold?
The property at 802 Eley Street was built in and last sold on Dec 18, 2023 for $33,000.
How much is this home worth?
The estimated value of the home located at 802 Eley Street is $362,254.
What are some comparable homes to 802 Eley Street?
There are currently no comparable homes to 802 Eley Street.
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