Property Type:
Multi Family
Lot Size (sq. ft.):
8,276
Status:
Sold
Current Price:
$469,900
List Date:
10/06/2025
Last Modified:
2/04/2026
217 N Summit Street, Ypsilanti, MI 48197
$420,000
Description
Investors take note of this 7 Unit Income property in Ypsilanti steps from the Eastern Michigan Campus. Over $72,000 in gross rental income, $11,114 in expenses. Separate electric for units. Current insurance is $4848.00. Updates in the last 4 years include Roof, Heating system, driveway and parking lot Land Contract terms possible. Awesome Investment opportunity.
More Information MLS# 25051296
Location & Property Info
Cross Streets: Sheridan and Congress
Property Sub-Type: 5+ Units
Area: Ann Arbor/Washtenaw - A
Municipality: Ypsilanti City
Ownership Type: Private Owned
Office/Contract Info
On-Market Date: 2025-10-06
Auction or For Sale: For Sale
General Property Info
New Construction: No
Lot Dimensions: 59x140
Financial Available: Yes
Road Frontage: 59
Cert of Compliance: Yes
Waterfront: No
Basement: Yes
Total # Units: 7
# of Diff Unit Floor Plans: 7
Total # Bldgs: 1
Total Parking Spaces: 7
School District: Ypsilanti
Lot Measurement: Acres
Lot Square Footage: 8276
Lot Acres: 0.19
Year Built: 1910
Tax Info
Taxable Value: 85669
SEV: 226700
For Tax Year: 2025
Seller's Annual Property Tax: 7213.1
Tax Year: 2025
Homestead %: 0
Spec Assessment & Ty: 0
Tax ID #: 11-11-40-138-023
Remarks & Misc
Public Remarks: Investors take note of this 7 Unit Income property in Ypsilanti steps from the Eastern Michigan Campus. Over $72,000 in gross rental income, $11,114 in expenses. Separate electric for units. Current insurance is $4848.00. Updates in the last 4 years include Roof, Heating system, driveway and parking lot Land Contract terms possible. Awesome Investment opportunity.
Legal: *OLD SID - 11 11-175-056-00 YP CITY 21W-79 LOT 56 EXCEPT N 7 FT CROSS & BAGLEY'S ADDITION.
Waterfront Options
Water Access Y/N: No
Lot Description
Level: 1
Sidewalk: 1
Income and Expenses
Annual Insurance: 4848
Annual Maintenance: 500
Annual Mgmt. Fees: 0
Annual Utilities: 5766
Gross Op. Inc.: 72600
Operating Expense: 10614
Street Type
Paved: 1
Util Avail at Street
None: 1
Utilities Attached
Cable Connected: 1
Electricity Connected: 1
Natural Gas Connected: 1
Phone Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Terms Available
Cash: 1
Conventional: 1
Land Contract: 1
Mineral Rights
Unknown: 1
Laundry Features
Common Area: 1
In Basement: 1
Exterior Material
Block: 1
Stone: 1
Vinyl Siding: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Heat Type
Steam: 1
Air Conditioning
Window Unit(s): 1
Access Feat
Accessibility Features: No
Tenant Pays
Electric: 1
Driveway
Aggregate: 1
Asphalt: 1
Substructure
Daylight: 1
Full: 1
Extras
Laundry Facility: 1
Owner Pays
Sewer: 1
Trash Collection: 1
Water: 1
Unit 1
Unit #: 1
Unit Description: 1 bed 1 bath
Occupied: Yes
Monthly Rent: 900
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Garb Disp: 1
Range Oven: 1
Refrigerator: 1
Unit 2
Unit #: 2
Unit Description: 1 bed 1 bath
Occupied: Yes
Monthly Rent: 950
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Garb Disp: 1
Range/Oven: 1
Refrigerator: 1
Unit 3
Unit #: 3
Unit Description: studio
Occupied: No
Monthly Rent: 750
Bathrooms: 1
Full Baths: 1
Range/Oven: 1
Garb Disp: 1
Refrigerator: 1
Unit 4
Unit #: 4
Unit Description: studio
Monthly Rent: 550
Bathrooms: 1
Full Baths: 1
Range/Oven: 1
Refrigerator: 1
Unit 5
Unit #: 5
Unit Description: 3 bedroom
Monthly Rent: 550
Bedrooms: 3
Bathrooms: 2
Full Baths: 1
Half Baths: 1
Range/Oven: 1
Refrigerator: 1
Unit 6
Unit #: 7
Unit Description: garden studio
Monthly Rent: 750
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Range/Oven: 1
Refrigerator: 1
Unit 7
Unit #: 8
Unit Description: garden studio
Occupied: Yes
Bathrooms: 1
Full Baths: 1
Garb Disp: 1
Refrigerator: 1
Monthly Rent: 650
Range/Oven: 1
Possession
Close Of Escrow: 1
Location Property Info
County: Washtenaw
Street #: 217
Street Direction: N
Street Name: Summit
Suffix: Street
State: MI
Zip Code: 48197
Zip (4): 2775
OfficeContract Info
Status: Sold
Current Price: $420,000
List Price: $469,900
Listing Date: 2025-10-02
Remarks Misc
Directions: North of Washtenaw South of Michigan Ave
Status Change Info
Under Contract Date: 2026-01-02
Sold Date: 2026-02-03
Sold Price: $420,000
Property Features
Laundry Features: Common Area; In Basement
Exterior Material: Block; Stone; Vinyl Siding
Substructure: Daylight; Full
Lot Description: Level; Sidewalk
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected
Util Avail at Street: None
Extras: Laundry Facility
Owner Pays: Sewer; Trash Collection; Water
Tenant Pays: Electric
Heat Source: Natural Gas
Heat Type: Steam
Air Conditioning: Window Unit(s)
Driveway: Aggregate; Asphalt
Street Type: Paved
Mineral Rights: Unknown
Terms Available: Cash; Conventional; Land Contract
Possession: Close Of Escrow
Sale Conditions: None
Unit 1: Garb Disp; Range Oven; Refrigerator
Unit 2: Garb Disp; Range/Oven; Refrigerator
Unit 3: Range/Oven; Garb Disp; Refrigerator
Unit 4: Range/Oven; Refrigerator
Unit 5: Range/Oven; Refrigerator
Unit 6: Range/Oven; Refrigerator
Unit 7: Garb Disp; Refrigerator; Range/Oven
Listing Office:
Real Estate One Inc
Listing Agent:
Michael Lee
Last Updated: February - 04 - 2026
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively 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.
