126 College Place
Ypsilanti, MI 48197
Multi Family · MLS # 20261041496 · Listing courtesy of Prospect Realty Group
About this home
PUBLIC REMARKS Excellent opportunity to acquire a fully occupied four-unit investment property in the highly desirable Eastern Michigan University area. Located just blocks from campus and close to downtown Ypsilanti and Depot Town, this property benefits from strong rental demand and a proven rental history. The building consists of four residential units and is currently tenant occupied (long term tenants), providing immediate income for a new owner. Convenient access to EMU, Depot Town, downtown Ypsilanti, parks, shopping, dining, and major commuter routes makes this a desirable location for tenants. This property offers investors the opportunity to acquire a stabilized asset in one of Ypsilanti's strongest rental submarkets. Financial information, rent roll, leases, and additional property details available upon request.
Interior
Systems and utilities
Exterior and lot
Taxes, HOA and more
Schools
How it compares in Ypsilanti
Over the last 90 days, 215 homes sold in Ypsilanti for a median of $300,000, about $182 per square foot, and the typical one went under contract in 15 days. This home is listed at $395,000, or $90 per square foot, 51% below the city median, and has been on the market 118 days. Size, condition, updates and the exact street all move the number, so treat this as context. See recent Ypsilanti sales or ask us for the comparable sales on this one.
Property taxes for a new owner
The current owner pays about $17,235 a year. A buyer who lives here would pay about $13,781 a year once the taxable value resets after the sale, at the 2025 homestead rate of 63.29 mills for Ypsilanti City and Ypsilanti 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 Ypsilanti
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