408 N Hamilton Street Ypsilanti, MI ^$ 375,000

408 N Hamilton Street

^$ 375,000

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408 N Hamilton Street

Ypsilanti, MI, 48197

^$ 375,000

Studio Baths0.0

Monthly Estimate*

^$ 2,492

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Studio

Multi-Family Home for sale in Ypsilanti, MI

for $375,000. This home was built in 1929 on a lot size of 0.14.

Outstanding and high performing triplex investment property with stable tenants and fully occupied. Located in a very popular investment property area in the City of Ypsilanti. Very close and convenient to Eastern Michigan University's campus, the famous Depot Town, restaurants, bars, coffee shops, shopping and so much more. Cap rate is a healthy 6.8%. Contact the listing agent for more information.

Multi-Family Contingent

Price

^$ 375,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 7,051

Style

2 to 4 Units

Lot Size

0.14

Year Built

1929

Town/City

Ypsilanti

County/Region

Washtenaw

MLS | Web ID

24018222

Features

General

Sewer Public Sewer

Heating Wall Furnace Hot Water Forced Air Natural Gas

Cooling None

Utilities Phone Available Storm Sewer Available Public Water Available Public Sewer Available Natural Gas Available Electric Available Cable Available Natural Gas Connected Electric Connected Cable Connected

Possession Subject To Tenant Rights

Roof Other

Construction Materials Wood Siding

Year Built 1929

Tenant Pays Electric Water Gas

Township Ypsilanti City

Property SubType 2 to 4 Units

Tax Year 2024

Gross Income 35655.0

County Washtenaw

Net Operating Income 26895.0

Operating Expense 8760.0

Insurance Expense 989.0

New Construction N

Property Type Multi-Family

Attached Garage N

Status Active Contingent

Directions GPS

City Ypsilanti

High School District Ypsilanti

NumberOfUnitsTotal 3

MLS Area Ann Arbor/Washtenaw - A

Lot Size Units Acres

Lot Size Square Feet 6098.0

Waterfront Y/N N

Street Name Hamilton

Land Lease Y/N N

Tax Annual Amount 7051.0

Lease Renewal Y/N N

MLS Area Minor Ann Arbor/Washtenaw - A

Additional Parcels Y/N N

Rent Control Y/N N

Days on Market 50

Standard Status Active Under Contract

Occupancy Type Tenant

Tax Assessed Value 90373

Legal Description *OLD SID - 11 11-441-397-20 YP CITY 44W-100 S 36 FT OF LOT 397 NORRIS & CROSS ADDITION.

Senior Community None

Interior

Basement Walk Out Full

Total Fireplaces 1

Basement (Y/N) Y

Air Conditioning Y/N N

Heating Y/N Y

Street Suffix Street

Laundry Features Common Area In Basement Laundry Room

Electric On Property Y/N N

Total Baths 0

Exterior

Parking Features Driveway Gravel

Lot Features Level Sidewalk

Total Parking 5.0

Lot Size Area 0.14

Number of Buildings 1

Spa N

Lot Dimensions 36 x 165

Lot Size Acres 0.14

Road Surface Type Paved

Crops Included Y/N N

Open Parking Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Internal Only

Street Number 1 408

* Excluded Features

List By

The Charles Reinhart Company

Broker

KGlassel@ReinhartRealtors.com

Affordability Calculator

$3,080

Per Month

Monthly Principal & Interest: $2,492
Monthly Property Taxes: $588
Monthly Home Insurance: --

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Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Ypsilanti, MI

Average List Price ^$398,194

Percent of Sale Price 6%

About Ypsilanti, MI

20,639 Population

-8% Since 2002

^$38,265 Median Income

27.51 Median Age

16% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

4209139 Elementary School

4209138 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
5/14/2024	$375,000	-2.60%	Price Down
4/17/2024	$385,000		Listed Price

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408 N Hamilton Street, Ypsilanti, MI, 48197 is a Multi-Family Home for sale at $375,000 with a lot size of 0.14. 408 N Hamilton Street is a studio with 0.0 baths and was built in 1929. The property's zip code is 48197 which is in Ypsilanti, MI

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of MichRIC, LLC

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of MichRIC, LLC. Real Estate listings held by brokerage firms (licensees) other than Weichert Realtors include the name of the listing brokers.

The information being provided is for 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.

Information Deemed Reliable But Not Guaranteed

Data is updated as of 6/8/2024.

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408 N Hamilton Street

Multi-Family Home for sale in Ypsilanti, MI

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