Properties for sale in Michigan

1013 Fountain Street, Ann Arbor, MI 48103

New Listing

$737,500

Virtual Tour

http://www.smartfloorplan.com/mi/v513023/player.pl

Property Type: Multi Family Lot Size (sq. ft.): 6,882 Status: Active

Current Price: $737,500 List Date: 8/27/2026 Last Modified: 8/30/2026

Overview

Description

Great investment opportunity or owner-occupied living in the heart of sought-after Water Hill! Tucked away in a secluded setting, this distinctive Swiss-chalet-style duplex is anything but a typical rental property. Both 2-bedroom, 1-bath units offer open floorplans, updated kitchens and tiled baths, with each unit featuring its own 2-car garage plus private deck and patio. Major recent updates include a new roof in 2025 and newer boilers, just 4 and 6 years old. Unit 1 offers nearly 1,600 sq. ft. and is ideally suited for owner-occupied living, featuring a dramatic upper-level loft/family room/flex space with soaring cathedral ceilings & skylights, plus a substantial additional area offering excellent potential for future finishing or abundant storage. Unit 2 is occupied by a long-term tenant on month-to-month terms and features skylights in the kitchen & bathroom. Convenient to downtown Ann Arbor, U of M Central Campus, parks, shopping, dining and more. City HERD result to follow.

Supplements: Current rents of $2,050 and $1,450 per month are below market, presenting an excellent opportunity for increased income and future upside. Certificate of Occupancy in place through April 2028. A rare opportunity to own a distinctive duplex in one of Ann Arbor's most desirable neighborhoods!

Listing Details MLS# 26045413

Location Property Info

County: Washtenaw
Street #: 1013
Street Name: Fountain
Suffix: Street
State: MI
Zip Code: 48103
Zip (4): 3292

General Property Info

Lot Measurement: Acres
Lot Square Footage: 6882
Lot Acres: 0.16
Lot Dimensions: 55x125
Year Built: 1965
New Construction: No
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2026-04-03
Road Frontage: 55
Total # Units: 2
# of Diff Unit Floor Plans: 2
Total # Bldgs: Yes
Total Approx. SqFt All Bldgs: 2424
Total Parking Spaces: 4
Waterfront: No
School District: Ann Arbor
Elementary School: Wines Elementary School
Middle School: Forsythe Middle School
High School: Skyline High School
Association YN: No

Tax Info

Tax ID #: 09-09-20-302-076
Taxable Value: 231452
SEV: 347300
For Tax Year: 2026
Seller's Annual Property Tax: 15621
Tax Year: 2025
Spec Assessment & Ty: N/A
Zoning: R2A

Remarks Misc

Directions: Brooks to Summit, turn N on Fountain

Access Feat

Accessibility Features: No

More Information

Income and Expenses

Annual Insurance: 2879
Annual Maintenance: 1200
Gross Op. Inc.: 42000
Net Operating Income: 22345
Operating Expense: 19655

Unit 1

Unit #: Yes
Unit Description: 2 Story
SqFt: 1584
Occupied: Yes
Monthly Rent: 2050
Bathrooms: Yes
Full Baths: Yes

Unit 2

Unit #: 2
Unit Description: Ranch
SqFt: 840
Occupied: Yes
Monthly Rent: 1450
Bathrooms: Yes
Full Baths: Yes

Property Features

Laundry Features: Electric Dryer Hookup; Gas Dryer Hookup; In Unit; Main Level; Upper Level; Washer Hookup Exterior Material: Block; Stucco; Wood Siding Roofing: Composition Substructure: Slab Sewer: Public Sewer Water: Public Water Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected Util Avail at Street: High Speed Internet; Public Sewer; Public Water; Storm Sewer Extras: Garages Owner Pays: Trash Collection Tenant Pays: Electric; Gas; Sewer; Water Heat Source: Natural Gas Heat Type: Baseboard; Hot Water Air Conditioning: Wall Unit(s) Driveway: Asphalt; Easement; Shared Paved Street Type: Paved; Public Mineral Rights: Unknown Terms Available: Cash; Conventional Possession: Subject To Tenant Rights Sale Conditions: None Unit 1: Deck/Patio; Dishwasher; Garage; Garb Disp; Range Oven; Refrigerator; W/D Hookup; Washer/Dryer Unit 2: Deck/Patio; Dishwasher; Fireplace; Garage; Garb Disp; Range/Oven; Refrigerator; W/D Hookup; Washer/Dryer

Listing Office: Coldwell Banker Professionals

Listing Agent: Howard Watts

Last Updated: August - 30 - 2026

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