1243 Lakepointe Street
Grosse Pointe Park, MI 48236
Single Family Residence · MLS # 58050226817 · Listing courtesy of Shorepointe Real Estate Assoc., Inc.
About this home
Rare opportunity offering the best of both worlds, this exceptional property features an impressive 2,219 square foot, 4 bedroom, 2 bath owner's residence occupying the second and third floors along with a spacious 3 bedroom first floor apartment providing an excellent opportunity for rental income to help offset your monthly housing expenses. Enjoy the space, privacy and comfort of a single family home while benefiting from an income producing property. Unlike purchasing a comparable single family residence, this unique opportunity allows you to have rental income working to reduce your overall cost of ownership. The beautifully renovated owner's suite features a high end, open concept kitchen, spacious primary bedroom with adjoining sitting room, generous living and dining areas and a remodeled bathroom. Ideally located just steps from Grosse Pointe Park's revitalized Kercheval business district, with its outstanding restaurants, caf©s and boutique shops and just a short walk to both Windmill Pointe Park and Patterson Park. Extensive improvements include remodeled kitchens and bathrooms in both units, mini split HVAC system on the second and third floors, replacement windows, updated electrical panels, plumbing and electrical improvements, two high efficiency water heaters, updated flooring and fresh interior paint. Additional features include a detached 2 car garage, driveway parking for three or more vehicles, covered front porches, decorative landscaping and a shared basement recreation and laundry area with separate washers and dryers for each unit. An exceptional opportunity to enjoy the lifestyle of a spacious single family home while letting rental income help pay for it; all in one of Grosse Pointe Park's most desirable locations.
Interior
Systems and utilities
Exterior and lot
Taxes, HOA and more
Schools
How it compares in Grosse Pointe Park
Over the last 90 days, 25 homes sold in Grosse Pointe Park for a median of $605,000, about $193 per square foot, and the typical one went under contract in 2 days. This home is listed at $649,900, or $163 per square foot, 16% below the city median, and has been on the market 0 days. Size, condition, updates and the exact street all move the number, so treat this as context. See recent Grosse Pointe Park sales or ask us for the comparable sales on this one.
Property taxes for a new owner
The current owner pays about $12,989 a year. A buyer who lives here would pay about $17,909 a year once the taxable value resets after the sale, at the 2025 homestead rate of 54.57 mills for Grosse Pointe Park City and Grosse Pointe schools, plus the 1% administration fee. Michigan resets a home's taxable value the year after it sells, so the seller's bill isn't a good number to budget with. See the math.
Monthly payment estimate
Estimate only, 30 year fixed, includes taxes at a new owner's rate when listed. Ask us for a lender quote.
Location
Similar homes in Grosse Pointe Park
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