new - 7 days on rocket

21710 29 Mile Rd, Ray, MI, 48096

$425,000

Home List Price

$5,047*

Closing Credit

5 Bedrooms
3 Full Baths
3,752 SqFt
$113/SqFt
Multi

Location

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21710 29 Mile Rd, Ray$425,000

Buyer Closing Credits

$5,047*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Parking3 or More Spaces
Year Built1942
HeatingForced Air
CoolingCentral Air
MLS #50157925
Lot Size0.65 Acres
StatusActive

About 21710 29 Mile Rd

Welcome to this fantastic investment opportunity in a prime location! This 2-story 3 unit building features two spacious apartments upstairs, each 938 sqft with 2 bedrooms and 1 bath. The lower level is 1876 sqft currently being used as living quarters but can be reverted back to business use as store, retail, office and more, offering endless possibilities for additional income streams. Each unit provides a private entrance. Located in an area with high traffic counts and high visibility. This property is perfect for entrepreneurs looking to establish a business in a prime community. The apartments provide a steady rental income, making this property a lucrative investment for any savvy investor. CAP RATE 8% or more (current rent is well below area average). Land contract available. We will consider all reasonable offers. Huge lot would allow plenty of space for expansion. Tenant pays all utilities.

Property Details

Property Features

Property Information:

  • Year Built: 1942
  • Stories: 2
  • Living Area: 3,752 SqFt

Listing Office:

  • Office Name: Century 21 AAA North-Macomb
  • Office Phone: (586) 677-8888
  • Listing Agent: John Bolos

Interior Features

Interior Information:

  • Appliances: Dryer, Freezer, Range, Oven, Refrigerator, Washer
  • Basement: No

Bedroom and Bathroom Information:

  • Full Bathrooms: 3
  • Total Bedroom Count: 5

Exterior Features

Exterior Information:

  • Exterior: Fenced Yard

Parking Information:

  • Parking: 3 or More Spaces

Lot Features

Lot Information:

  • Lot: Corner Lot
  • Lot Size: 0.65 Acres

Utilities

Utilities Information:

  • Heating: Forced Air
  • Cooling: Central Air

School Info

Assigned Schools Information:

  • New Haven High School, Public District Grades 9-12
  • New Haven Elementary School, Public Magnet Grades KG-5

School District Information:

  • School District: New Haven Community Schools

Price Information

Listing Price Info

Price Summary:

  • List Price: $425,000
  • Price Per SqFt: $113/SqFt

Tax Information:

  • Annual Amount: $1,682
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Ray, MI.

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Ray, MI

City

Med. Sold Price

$403.5K

Med. Price/SqFt

$203

Avg. Days On Market

42

# of Sold Homes

4

21710 29 Mile Rd vs Ray

7 DAYS ON ROCKET

-35 Days

$425,000

+$21.5K More

$113/SqFt

-$91 Less

KEY TAKEAWAY

This property is $21.5K more than the Median Sold Price and $91/SqFt less than other homes in Ray, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: MiRealSource
  • MLS Number: #50157925

Listing Office:

  • Office Name: Century 21 AAA North-Macomb
  • Office Phone: (586) 677-8888
  • Listing Agent: John Bolos

IDX Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.

Copyright 2024 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.

The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 10/17/2024, 11:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2020$1,682$153,500
2019$1,963$161,400
2017$1,964$100,200

History based on county public records data.

Payment Calculator

$2,189

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,341

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-552261
6
/10

  • New Haven Elementary School

  • 57701 River Oaks Dr

  • 5.97 miles

  • Public Magnet Grades KG-5

High School

school-card-donut-552262
6
/10

  • New Haven High School

  • 57700 Gratiot Ave

  • 6.28 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $72,688. Typical income of Ray, MI residents is between $35k-100k annually. Residents typically live in married, no kids family. Most residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Rocket Homes›Michigan›Macomb County›Ray›48096›21710 29 Mile Rd

This home is located at 21710 29 Mile Rd in Ray, MI and zip code 48096. This 3,752 square foot home, which was built in 1942, sits on a 0.65 acre lot. Features: 5 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since October 10, 2024 and is currently priced at $425,000.

While more than 1 listings in Ray, MI in September 2024 were sold above asking price, there were more than 0 listings sold at asking price, and more than 3 were sold below. Between August 2024 and September 2024, Ray, MI real estate market has seen decrease in the number of listings by 27.8%. Listings spent 42 days on the market in September 2024, and had a median list price of $403,500 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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