Highly desired Downtown Romeo 4 unit income property. Tons of recent capital improvements over the past year. All units are exactly the same, 2bdrm, 1 bath, in-unit laundry. Fully leased with long term tenants. Combined gross monthly rental income is $4,300. rents are: ($1200, $1150, $1000, $900) Annual $51,600. There is room to raise rents about $6,000 annually. Capital improvements include 2 heavily renovated units with new kitchens, baths, flooring, appliances, paint. All units have new exterior doors and all windows. Tenants pay all utilities (water, gas, electric) Landlord expenses include property taxes, building insurance, water softener salt & grounds maintenance. No showings without an accepted offer to avoid disturbing tenants.
Sold for $585,000 on 04/10/23
$585,000
303 E Lafayette St, Romeo, MI 48065
8beds
3,355sqft
Multi Family
Built in 1991
-- sqft lot
$634,400 Zestimate®
$174/sqft
$2,147 Estimated rent
Home value
$634,400
$596,000 - $672,000
$2,147/mo
Zestimate® history
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What's special
Zillow last checked: 8 hours ago
Listing updated: August 31, 2023 at 04:59am
Listed by:
Jonathan E Foukes 586-405-2327,
Move Realty LLC
Bought with:
Lanie Hardy, 6501261101
KW Domain
Source: Realcomp II,MLS#: 20230011809
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Forced Air, Natural Gas
Cooling
- Central Air
Appliances
- Laundry: In Unit
Features
- Has basement: No
- Has fireplace: No
Interior area
- Total interior livable area: 3,355 sqft
- Finished area above ground: 3,355
Property
Parking
- Total spaces: 8
- Parking features: Parking Lot, Parking Pad
Features
- Levels: One
- Stories: 1
- Patio & porch: Patio
- Pool features: None
Lot
- Size: 0.25 Acres
- Dimensions: 75.00 x 150.00
Details
- Parcel number: 0402201013
- Zoning description: MultiFamily
- Special conditions: Short Sale No,Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Ranch
- Property subtype: Multi Family
Materials
- Brick, Vinyl Siding
- Foundation: Crawl Space
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1991
- Major remodel year: 2021
Utilities & green energy
- Sewer: Public Sewer
- Water: Community
Community & neighborhood
Location
- Region: Romeo
- Subdivision: BAILEYS ADDITION
Other
Other facts
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 4/10/2023 | Sold | $585,000-6.4%$174/sqft |
Source:  Realcomp II #20230011809 | ||
| 4/3/2023 | Pending sale | $625,000$186/sqft |
Source: Realcomp II #20230011809 | ||
| 2/16/2023 | Listed for sale | $625,000-1.6%$186/sqft |
Source: Realcomp II #20230011809 | ||
| 1/4/2023 | Listing removed | -- |
Source: Realcomp II #20221062886 | ||
| 12/14/2022 | Pending sale | $635,000$189/sqft |
Source: Realcomp II #20221062886 | ||
Public tax history
Tax history is unavailable.
Neighborhood: 48065
Nearby schools
GreatSchools rating
- 5/10Amanda Moore Elementary SchoolGrades: K-5Distance: 0.3 mi
- 7/10Romeo Middle SchoolGrades: 6-8Distance: 0.9 mi
- 8/10Romeo High SchoolGrades: 9-12Distance: 3.3 mi
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$634,400
2% more+ $12,688
With Zillow Showcase(estimated)
$647,088