1310 Packard Street

About this home

Set on a shady wooded lot in downtown Ann Arbor sits this beautiful brick 1960's apartment building. Featuring 6 spacious units- 2 studios; 3 one bedrooms; and 1 two bedroom. Well cared for with many updates and all the big ones done including a new boiler, new EPDM roof, and a rental cetificate good through 2029. Always fully rented with current rent roll at $8,875/mo. Tenants pay electric and love the on site laundry, storage lockers, and free on site parking. Turnkey investment opportunities like this don't often turn up. See attached virtual tours.

Interior

Systems and utilities

Exterior and lot

Taxes, HOA and more

Schools

How it compares in Ann Arbor

Over the last 90 days, 328 homes sold in Ann Arbor for a median of $469,500, about $244 per square foot, and the typical one went under contract in 18 days. This home is listed at $1,100,000, and has been on the market 70 days. Size, condition, updates and the exact street all move the number, so treat this as context. See recent Ann Arbor sales or ask us for the comparable sales on this one.

Property taxes for a new owner

The current owner pays about $30,000 a year. A buyer who lives here would pay about $23,650 to $29,256 a year once the taxable value resets after the sale, at the 2025 homestead rate of 52.67 mills for Ann Arbor City and Ann Arbor 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

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