Off Market2769d on market
554 Cornell Ave
East Lansing, MI, 48823 • Avondale Square • Ingham County
$402,200
$274/sqft
5Beds
3Baths
1,467Sqft
0.25 acLot
1961Built
Property DNA
Hardwood Floors
Quality flooring throughout
Market activity
Demand and pricing signals for this listing
4 views
People checking out this listing
2769 days on market
Established listing
$274/sqft
Price per square foot
About this home
Single Family · Built 1961
This is a rare opportunity to purchase a home within walking distance to Michigan State University that is has a transferable rental license in good standing. This particular home is rented until July 31, 2020 at a rent rate of $3400 and currently has a rental license in good standing for 5 unrelated persons. The overall CAP rate for the package is slightly higher than 9%. Property is within walking distance to campus and downtown East Lansing. These houses have had 100% occupancy since 2011, have been professionally managed, and have received lots of upgrades to roofs, bathrooms and furnaces.
Standout features identified
Our analysis highlights backyard and updated bathroom as key attractions of this home.
Estimated monthly payment
Based on current rates
$2,523/month
Principal & Interest$1,986
Property Tax$402
Insurance$134
Down payment20% ($80,440)
3%50%
Est. 6.28% rate · 30yr fixed · $321,760 loan
Full calculator →At a glance
Key facts and listing details
TypeSingleFamily
Year Built1961
HeatingNone, Forced air
CoolingOther
Parking5 Parking spaces
Lot10,802 sqft
Property
Home typeSingle Family
Year built1961
Systems
HeatingNone, Forced air
CoolingOther
RoofOther
Parking & Outdoor
ParkingNone
BasementPartially finished
Lot10,802 sqft
Location & Tax
NeighborhoodAvondale Square
Annual tax$8,538
Parcel33200218217022
Bathrooms & Fees
Full baths3
Features & details
7 categories of property features
Interior Features
Appliances
Dishwasher
Dryer
Freezer
Garbage disposal
Range / Oven
Refrigerator
Washer
Flooring
Other
Carpet
Hardwood
Heating
None
Forced air
Cooling
Other
Laundry
In Unit
Exterior Features
Exterior
Other
Parking
None
Room details
3 rooms detailed
Dining Room
Family Room
Laundry Room
Listing insights
Market data and value estimates
StatusOff Market
Days on market2769
Est. value$402,200
Est. rent$3,922/mo
Tax rate1.86%
Price/sqft$274
Last sold$299,000
Tour days6
Views4
How are the schools in East Lansing?
3 schools rated nearby
Location
East Lansing, MI, 48823
Price history
10 events
DateEventPrice$/sqftSource
Aug 16, 2021Listing Removed——Zillow Rental Manager
Jul 16, 2021Listed For Rent$3,200$2Zillow Rental Manager
Mar 24, 2021Listing Removed——Owner
Jul 14, 2019Listing Removed$325,000$222Owner
Mar 24, 2019Listed For Sale$325,000$222Owner
Sep 7, 2018Sold$299,000$204Greater Lansing AOR
Aug 21, 2018Pending Sale$299,000$204East Lansing
Aug 6, 2018Listed For Sale$299,000$204Berkshire Hathaway HomeServices Tomie Raines
Jul 27, 2009Sold$190,500$130Public Record
May 24, 2005Sold$169,500$116Public Record
Listing Removed—
Aug 16, 2021•Zillow Rental Manager
Listed For Rent$3,200
Jul 16, 2021•$2/sqft•Zillow Rental Manager
Listing Removed—
Mar 24, 2021•Owner
Listing Removed$325,000
Jul 14, 2019•$222/sqft•Owner
Listed For Sale$325,000
Mar 24, 2019•$222/sqft•Owner
Sold$299,000
Sep 7, 2018•$204/sqft•Greater Lansing AOR
Pending Sale$299,000
Aug 21, 2018•$204/sqft•East Lansing
Listed For Sale$299,000
Aug 6, 2018•$204/sqft•Berkshire Hathaway HomeServices Tomie Raines
Sold$190,500
Jul 27, 2009•$130/sqft•Public Record
Sold$169,500
May 24, 2005•$116/sqft•Public Record
Tax history
25 years of records
YearTax paidAssessed value
Apr 8, 2024$8,538$143,800
Apr 8, 2023—$129,400
Apr 8, 2022—$112,900
Apr 8, 2021—$109,800
Apr 8, 2020—$109,800
Apr 8, 2019$7,195$103,700
Apr 8, 2018$7,195$100,800
Apr 8, 2017—$96,400
Apr 8, 2016—$96,400
Apr 8, 2015—$89,300
Apr 8, 2014—$89,300
Apr 8, 2013—$85,100
Apr 8, 2012—$85,100
Apr 8, 2011—$88,600
Apr 8, 2010—$88,600
Apr 8, 2009—$88,600
Apr 8, 2008—$88,000
Apr 8, 2007—$85,400
Apr 8, 2006—$81,500
Apr 8, 2005—$76,900
Apr 8, 2004—$72,900
Apr 8, 2003—$68,900
Apr 8, 2002—$65,600
Apr 8, 2001—$61,900
Apr 8, 2000—$59,100
Nearby homes
Neighborhood details
Local context around this listing
East Lansing, MI • Ingham County
Nearby neighborhoods
Avondale SquareBaileyDowntownGlencairnOakwoodPinecrestRed CedarSoutheast MarbleWalnut HeightsWhitehills
Nearby cities
DewittEast LansingEaton RapidsGrand LedgeHaslettHoltLansingMason
Nearby zip codes
488234882548826
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