704 S Warner Street

    Bay City, MI 48706
    • $44,900
    • STATUS: Active
    • ON SITE: 124 days
    • ID#: 219108760
    Price Reduced
    UPDATED: 33 min ago
    $44,900
    • 0
      BEDS
    • 0.11
      ACRES
    • 3
      BATHS
    • 0
      1/2 BATHS
    • 2,500
      SQFT
    • $18
      $/SQFT
    Type:
    Multi-Family
    Built:
    1887
    County:
    Bay
    Area:
    Zoning:
    Multi-Family
    Lot Size Dimensions:
    60X130X60X130

    School Ratings & Info

    School District:

    Description

    Long time multi unit property in a very nice section of the City. Rental certified and inspected on an annual basis. Two of the units are currently rented the other was just vacated. The two lower units are one bedroom and the upper unit has two bedrooms. Consistent income producer and possibility of rental increase based on current market conditions. Land contact available at terms to be negotiated with at least $10,000 down. All information subject to verification by prospective buyer. This property was built in the late 1800's and therefore it is not in "like new" condition although it is a safe building to live in as evidenced by the City Inspections over the years and that fact that it has been insured as a rental property. The owner will consider any credible offer and will provide a discount for a cash transaction. At full rent the property can produce a payback of 26% annually which creates a 3.7 year payback at list price. Net annual profit is approximately $12,000.

    Monthly Payment Calculator



    © 2020 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than Springview Realty are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2020-02-23T23:56:13.28.
    www.springviewrealty.com/homes/100209326

    704 S Warner Street Bay City, MI 48706

    • Price: $44,900
    • Status: Active
    • Updated: 33 min ago
    • ID#: 219108760
    0
    Beds
    3
    Baths
    0
    ½ Baths
    0.11
    Acres
    2,500
    SQFT
    $18
    $/SQFT
    1887
    Built
    Neighborhood:
    Zagelmeyer & Co's 1St Add To Wenona
    County:
    Bay
    Area:
    Bay City
    School District:
    BAY CITY
    Property Description
    Long time multi unit property in a very nice section of the City. Rental certified and inspected on an annual basis. Two of the units are currently rented the other was just vacated. The two lower units are one bedroom and the upper unit has two bedrooms. Consistent income producer and possibility of rental increase based on current market conditions. Land contact available at terms to be negotiated with at least $10,000 down. All information subject to verification by prospective buyer. This property was built in the late 1800's and therefore it is not in "like new" condition although it is a safe building to live in as evidenced by the City Inspections over the years and that fact that it has been insured as a rental property. The owner will consider any credible offer and will provide a discount for a cash transaction. At full rent the property can produce a payback of 26% annually which creates a 3.7 year payback at list price. Net annual profit is approximately $12,000.
    Exterior Features

    Architecture Level 2 Story Architecture Style Bungalow Construction Materials AsphaltVinyl Exterior Features Awning/Overhang(S) Foundation Details BasementMichigan Basement Foundation Materials BlockStone Lot Size Dimensions 60X130X60X130 Pool YN No Porch Type Porch Road Frontage Feet 60 Road Frontage Type Paved Roof Material Asphalt Waterfront YN No

    Interior Features

    Basement Type Walk-Up Access Basement YN Yes Baths Total 3.00 Heating Forced Air Heating Fuel Natural Gas Room Count 0 Sq Ft Combined 2500 Sq Ft Total Basement 980 Unit Efficiency Number Of 0 Unit One Bed Number Of 2 Unit Three Bed Number Of 0 Unit Two Bed Number Of 1 Water Heater Fuel Natural Gas

    Property Features

    Deposit Amount 15000.00 Encroachment YN No Exclusions YN No Gross Scheduled Income 19800.00 Income Projection Projected Inventory List YN No Land Contract YN Yes Land Interest Rate 7 Land Payment 850 Land Terms 5 Legal Rental Certified YN Yes Listing Financing CashLand ContractWarranty Deed Monthly Rental Income 1650 Net Operating Income 17173.00 Number Of Units Leased 2 Ownership Status Private OwnedShort Sale - No Percent Homestead Exempt YN No Postal City Bay City Protection Period 30 Rent Includes ElectricHeatWater/Sewer Restrictions YN No Settlement City Sewer Sewer-Sanitary Short Sale No Tax Amount Summer 1311.6200 Tax Amount Winter 116.3800 Title Private - Owned Total Tax 1428.0000 Transaction Type Sale Unit Loft Number Of 0 Unparsed Address 704 S WARNER ST Water Source Water At Street Zone Conform YN Yes Zoning Multi-Family

    IDX provided courtesy of Realcomp II Ltd., via Wilhelm & Assoc Inc, Realtorã‚® and Realcomp, ©2020 Realcomp II Ltd. Shareholders.


    © 2020 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than Springview Realty are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2020-02-23T23:56:13.28.
     
    Springview Realty
    510 W. University Drive
    Rochester MI, 48307