Properties for sale in Michigan

Overview

Description

Heritage Hill character with real flexibility. This home works well for someone looking to live in one portion and rent the other, operate as an income property, or bring it back to a spacious single-family home. The main level blends natural light and original charm with everyday function, featuring a comfortable living room, formal dining area, and an updated kitchen, bathroom, and bedrooms that make daily living easy. Upstairs, you'll find a separate three-bedroom unit with its own kitchen, dining area, and spacious living room, currently rented for $1,750 per month to long-term tenants. Each unit has its own laundry. Off-street parking with multiple spaces adds to the practicality, and the location places you in the heart of Heritage Hill, close to downtown, parks, and local favorites. The fenced front yard is perfect for pups, and the wraparound porch offers a great place to sit and enjoy a beautiful day. This home gives you flexibility without overcomplicating the path forward.

Location Property Info

County: Kent
Street #: 556
Street Name: Lafayette
Suffix: Avenue
Post Direction: SE
State: MI
Zip Code: 49503
Zip (4): 5332

General Property Info

Lot Measurement: Acres
Lot Square Footage: 7231
Lot Acres: 0.17
Lot Dimensions: 50 X 145
Year Built: 1890
New Construction: No
Cert of Compliance: Yes
Cert. of Compliance Exp Date: 2027-12-04
Road Frontage: 50
Total # Units: 2
# of Diff Unit Floor Plans: 2
Total # Bldgs: Yes
Total Parking Spaces: 5
Waterfront: No
School District: Grand Rapids
Association YN: Yes
Basement: Yes

Tax Info

Tax ID #: 41-14-31-134-012
Taxable Value: 140720
SEV: 177200
For Tax Year: 2025
Seller's Annual Property Tax: 7226.14
Tax Year: 2025
Spec Assessment & Ty: None Known
Zoning: RMHH2
Homestead %: 0

Waterfront Options

Water Access Y/N: No

Access Feat

Accessibility Features: No

More Information

Income and Expenses

Annual Insurance: 3000
Annual Maintenance: 11772.5
Annual Mgmt. Fees: 1747.5
Annual Utilities: 7999.78
Gross Op. Inc.: 43869.22
Net Operating Income: 11364.98
Operating Expense: 32504.24

Unit 1

Unit #: Yes
Unit Description: Lower
SqFt: 1309
Occupied: No
Monthly Rent: 2400
Bathrooms: Yes
Full Baths: Yes
Deck/Patio: Yes
Dishwasher: Yes
Range Oven: Yes
Refrigerator: Yes
Sep. Heat System: Yes
Washer/Dryer: Yes

Unit 2

Unit #: 2
Unit Description: Upper
SqFt: 1329
Occupied: Yes
Monthly Rent: 1750
Bathrooms: Yes
Full Baths: Yes
Deck/Patio: Yes
Dishwasher: Yes
Range/Oven: Yes
Refrigerator: Yes
Sep. Heat System: Yes
Washer/Dryer: Yes

Location & Property Info

Cross Streets: Wealthy and Lafayette
Property Sub-Type: 2 to 4 Units
Municipality: City of Grand Rapids

Office/Contract Info

Auction or For Sale: For Sale

Remarks & Misc

Public Remarks: Heritage Hill character with real flexibility. This home works well for someone looking to live in one portion and rent the other, operate as an income property, or bring it back to a spacious single-family home. The main level blends natural light and original charm with everyday function, featuring a comfortable living room, formal dining area, and an updated kitchen, bathroom, and bedrooms that make daily living easy. Upstairs, you'll find a separate three-bedroom unit with its own kitchen, dining area, and spacious living room, currently rented for $1,750 per month to long-term tenants. Each unit has its own laundry. Off-street parking with multiple spaces adds to the practicality, and the location places you in the heart of Heritage Hill, close to downtown, parks, and local favorites. The fenced front yard is perfect for pups, and the wraparound porch offers a great place to sit and enjoy a beautiful day. This home gives you flexibility without overcomplicating the path forward.
Legal: LOT 23 BLK 4* J PENNEY S ADDITION* BEING PART OF E 1/2 OF NW 1/4 SEC 31-7-11

Lot Description

Level: Yes
Sidewalk: Yes

Street Type

Paved: Yes
Public: Yes

Util Avail at Street

Cable Available: Yes
Electricity Available: Yes
High Speed Internet: Yes
Natural Gas Available: Yes
Phone Available: Yes
Storm Sewer: Yes

Utilities Attached

Natural Gas Connected: Yes

Sewer

Public Sewer: Yes

Water

Public Water: Yes

Terms Available

Assumable: Yes
Cash: Yes
Conventional: Yes
FHA: Yes
MSHDA: Yes
VA Loan: Yes

Mineral Rights

Unknown: Yes

Association Info.

Approx. Assoc Fee: 0
Assoc. Buy in Fee: No

Laundry Features

Gas Dryer Hookup: Yes
In Basement: Yes
In Unit: Yes
Sink: Yes
Upper Level: Yes

Exterior Material

Wood Siding: Yes

Assoc. Fee Incl.

None: Yes

Roofing

Composition: Yes

Heat Source

Natural Gas: Yes

Sale Conditions

None: Yes

Heat Type

Forced Air: Yes

Air Conditioning

Window Unit(s): Yes

Tenant Pays

Electric: Yes
Gas: Yes

Driveway

Gravel: Yes
Other: Yes

Substructure

Full: Yes

Owner Pays

Sewer: Yes
Trash Collection: Yes
Water: Yes

Possession

Close Of Escrow: Yes

Property Features

Laundry Features: Gas Dryer Hookup; In Basement; In Unit; Sink; Upper Level Exterior Material: Wood Siding Roofing: Composition Substructure: Full Lot Description: Level; Sidewalk Sewer: Public Sewer Water: Public Water Utilities Attached: Natural Gas Connected Util Avail at Street: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Phone Available; Storm Sewer Owner Pays: Sewer; Trash Collection; Water Tenant Pays: Electric; Gas Heat Source: Natural Gas Heat Type: Forced Air Air Conditioning: Window Unit(s) Driveway: Gravel; Other Street Type: Paved; Public Mineral Rights: Unknown Terms Available: Assumable; Cash; Conventional; FHA; MSHDA; VA Loan Possession: Close Of Escrow Sale Conditions: None Unit 1: Deck/Patio; Dishwasher; Range Oven; Refrigerator; Sep. Heat System; Washer/Dryer Unit 2: Deck/Patio; Dishwasher; Range/Oven; Refrigerator; Sep. Heat System; Washer/Dryer

556 Lafayette Avenue SE, Grand Rapids, MI 49503