Map location of 361 Richard Ter SE, Grand Rapids, MI 49506
$310,000
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361 Richard Ter Se, Grand Rapids, MI 49506

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Great 2 unit listing in Eastown where your investment dollars are well spent! This property currently operates with a $40,020 gross income $30,168 net, rent is $1650 per unit and is selling at a 10% cap rate with a 8% management fee included. It gets even better with both units rented until summer 2017 with GR cert. of compliance until June 2022. Property has been through recent extensive update. See attached list. Units are 4 bedroom, 1.5 bath with close to 2000 square feet of living space including laundry facilities for each unit. Nice stone front porch and updated front and back landscaping give house great curb appeal. Tenants love the new cement patios out back. Renters are just steps away from restaurants, shops and the great living downtown GR has to off

Listing By: Kirsten E Nairy - ERA Reardon Realty Great Lakes miswmar Realty.com
  • MLS# 16041976
  • Date Listed08/05/2016
  • Bedrooms -
  • Bathrooms
  • Lot Size 0.09 acres (3,920 sq. ft)
  • Sewer Public Sewer
  • Property Type Multi Family
  • County Kent
  • Year Built 1900
  • Water Public

Interior Features

  • Cooling None
  • Heating Natural Gas, Forced Air

Exterior / Lot Features

  • Roof Composition
  • Lot Size Acres 0.09
  • Lot Size SQFT 3,920.00
  • Lot Features -

Directions

From Lake Dr. Wealthy intersection W on Wealthy N or Richard Terrace to property

Financial Considerations

  • Tax Amount $3,465
  • Terms Cash, Conventional, FHA, VA Loan

Sales & Tax History

Source: Public Records

Population & Environment

Source: Sperling's Best Places

Walkability in MI / 49506

Source: Walkscore

92/100

Walker's Paradise

Walk Score ®

37/100

Some Transit

Transit Score ®

66/100

Bikable

Bike Score ®

Overview

Daily errands do not require a car. A few nearby public transportation options. Some bike infrastructure.

Transit Summary

6 nearby routes: 6 bus, 0 rail, 0 other

Walkability averages in the surrounding area

The average walkability score in the surrounding area is Walk Score: 50/100, Transit Score: 25/100, Bike Score: 48/100.

Property Change History

Points of Interest near 361 Richard Ter SE, Grand Rapids, MI 49506

Frequently Asked Questions for 361 Richard Ter SE

Source: Realty.com

361 Richard Ter SE, Grand Rapids, MI 49506 is a Multi Family, Residential Income property listed for $310,000 The property is - sq. ft with - bedrooms and 0 bathrooms

Realty.com has 20 photos of 361 Richard Ter SE.

Our records indicate that 361 Richard Ter SE was built in 1900.

The full address for this home is 361 Richard Ter SE, Grand Rapids, MI 49506.

361 Richard Ter SE has been listed on Realty.com since Fri August 05, 2016

Daily errands do not require a car. A few nearby public transportation options. Some bike infrastructure.

The average walkability score in the surrounding area is Walk Score: 50/100, Transit Score: 25/100, Bike Score: 48/100.

Listing provided courtesy of: Era Reardon Realty Great Lakes (tel: 616-364-8831)
Listing agent: Kirsten Nairy (tel: 616-745-4156) (#gnair8824)

This content last refreshed on 2025-12-05 02:54:54. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.

Export listing data of 361 Richard Ter SE, Grand Rapids, MI 49506 : MLS# 16041976

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