Score
0Ann Arbor, MI
806 S 7th St
558K
3 beds
2 baths
1,510 sqft
3 bd • 2 ba • 1,510 sf
This analysis was generated on 2/19/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$558,400
Price/Sq.Ft
$370
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Prime Location: Situated on S 7th St in Ann Arbor, the property enjoys a desirable location with close proximity to downtown amenities, the University of Michigan, and major transportation routes. This central location enhances the property's appeal to a wide range of buyers.
• Three Bedrooms and Two Bathrooms: The property offers a functional layout with three bedrooms and two bathrooms, suitable for families, couples, or individuals seeking extra space. This configuration aligns with the typical housing needs in Ann Arbor.
• Competitive Rental Market: Ann Arbor's strong rental market, with a median three-bedroom rental rate of $2,030, suggests the property could generate a significant rental income if used as an investment property.
• Strong Resale Potential: Ann Arbor's consistently strong real estate market, driven by the University of Michigan and limited housing supply, indicates good long-term resale potential for well-maintained properties in desirable locations.
The Bad
• Lack of Property Details: The absence of a property description, room details, and utility information makes it difficult to assess the property's true condition and features. This lack of transparency can be a red flag.
• Unknown Year Built: The unknown year built makes it impossible to estimate the age and condition of the property's major systems (roof, plumbing, electrical, HVAC). This increases the risk of unexpected repairs and maintenance costs.
• No Listed Property Features: The absence of listed property features (e.g., updated kitchen, hardwood floors, fenced yard) makes it difficult to compare the property to similar homes in the area and assess its value.
• High Price per Square Foot: At $369.80/sqft, the property is priced at the higher end compared to the Ann Arbor average of $300/sqft. This could indicate that the property is overpriced or in exceptionally good condition, which is not supported by the limited information available.
The Ugly
• Potential for Significant Renovations: Given the unknown year built and lack of property details, the property may require extensive renovations to bring it up to modern standards. This could involve significant costs for updating the kitchen, bathrooms, and major systems.
• High Property Taxes: Ann Arbor has relatively high property taxes, which can significantly increase the total cost of ownership. Be prepared for substantial annual property tax payments.
• Competitive Bidding Wars: Ann Arbor's real estate market is highly competitive, often leading to bidding wars and inflated prices. Be prepared to offer above asking price and potentially waive contingencies to secure the property.
• Limited Parking: Depending on the specific location within Ann Arbor, parking can be a challenge. The property may lack off-street parking, requiring reliance on street parking or permits, which can be inconvenient.
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Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
• Buyers Seeking a Well-Located Home Near Downtown Ann Arbor: The property's location on 7th Street offers convenient access to downtown amenities, the University of Michigan, and local schools.
• Investors Considering Rental Property: With a potential monthly rental income of $2,030 (based on 3-bedroom rental rates in Ann Arbor), this property could generate a positive cash flow, especially with effective property management. The proximity to the University of Michigan ensures a steady demand for rental housing.
• Buyers Comfortable with Potential Renovation Projects: Given the unknown age of the property, it may require some updates and renovations. Buyers who are open to investing in improvements over time could add significant value to the home.
• Individuals Looking for a Home with Good Resale Potential: Ann Arbor's strong housing market, driven by the University of Michigan and limited inventory, suggests good long-term resale potential for well-maintained properties in desirable locations.
Not For
• Buyers Seeking a Newly Constructed or Fully Updated Home: With the unknown year built and lack of listed features, this property may require significant renovations and updates. Those seeking a move-in-ready home with modern amenities may find this property unsuitable.
• Buyers with a Strict Budget and Limited Funds for Renovation: The potential need for renovations, combined with Ann Arbor's high property taxes, could make this property financially challenging for buyers with limited funds. A thorough assessment of potential renovation costs is essential.
• Individuals Requiring Specific Property Features or Amenities: The lack of listed property features makes it difficult to assess whether this home meets specific needs. Buyers with specific requirements, such as a large backyard, garage, or updated kitchen, may need to explore other options.
• Buyers Sensitive to Noise or Traffic: Given the proximity to downtown Ann Arbor and the University of Michigan, the property may experience higher levels of noise and traffic. Those seeking a quiet and secluded location may prefer other neighborhoods.
Demographics
Area Median Income
$106,715
Property History
Price History
Ownership Timeline
$260,000Cash Purchase
Sep 26, 2012Audrey WojtkowiakGregory Fichter, Emilia Fichter
Warranty Deed
Standard Sale (Purchase/Resales)
$210,000Financed
Nov 18, 2008Laura A Sagolla, Laura Sagolla CroleyAudrey Wojtkowiak
Warranty Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Jun 4, 2002Steven P CroleyLaura A Sagolla
Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
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Sunlight Analysis
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Risk Assessment
Risk Analysis
• Unknown Property Age: Without knowing the year built, it's impossible to assess the condition of major systems (roof, plumbing, electrical, HVAC) and potential for costly repairs. A thorough home inspection is crucial.
• High Property Taxes: Ann Arbor has relatively high property taxes, which can significantly impact monthly housing costs. Factor this into your budget and long-term ownership expenses.
• Competitive Market: Ann Arbor's real estate market is highly competitive, often leading to bidding wars and inflated prices. Be prepared to act quickly and potentially offer above asking price.
• Limited Information: The lack of property details and description makes it difficult to assess the property's true value and potential issues. Gather as much information as possible before making an offer.
• Potential for Student Rentals: Proximity to the University of Michigan could mean the surrounding neighborhood may have a higher concentration of student rentals, leading to potential noise and parking issues.
Cost & Affordability
Monthly Costs
Breakdown of estimated monthly expenses for this property
Monthly Payment
$0
* Estimated at 1% of home value annually. Actual costs may vary.
Not Included in Estimate
• Utilities (electricity, gas, water, internet)
• Home improvements and upgrades
• Landscaping and yard maintenance
• Pest control and home services
• Emergency repairs and replacements
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$558 monthly
$83 monthly
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Financials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow®$2,030
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$558,400
Price/sqft
$370
Layout
3 bd•2 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$614,500
9.1%
Your price is 9.1% below average
Median Price
$603,000
7.4%
Based on 6 recent sales
Price per Sq.Ft
$405
8.7%
Your price is 8.7% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 420 Crest Avenue, Ann Arbor, MI 48103 | $603,000 | 1,540 | 3 | 2 | $3925.9% | 1/8/2025 |
| 407 Linda Vista Street, Ann Arbor, MI 48103 | $600,000 | 1,486 | 3 | 2 | $4049.2% | 11/27/2024 |
| 219 Wildwood Avenue, Ann Arbor, MI 48103 | $560,000 | 1,513 | 3 | 2 | $3700.1% | 11/14/2024 |
| 315 2nd Street #214, Ann Arbor, MI 48103 | $800,000 | 1,469 | 2 | 2 | $54547.3% | 10/22/2024 |
| 123 Worden Avenue, Ann Arbor, MI 48103 | $499,000 | 1,414 | 4 | 2 | $3534.6% | 11/1/2024 |
| 711 Hutchins Avenue, Ann Arbor, MI 48103 | $625,000 | 1,708 | 2 | 2 | $3661.0% | 11/7/2024 |
420 Crest Avenue, Ann Arbor, MI 48103
Price: $603,000
Sq.Ft: 1,540
Beds/Baths: 3/2
$/Sq.Ft:
$3925.9%
Sale Date: 1/8/2025
407 Linda Vista Street, Ann Arbor, MI 48103
Price: $600,000
Sq.Ft: 1,486
Beds/Baths: 3/2
$/Sq.Ft:
$4049.2%
Sale Date: 11/27/2024
219 Wildwood Avenue, Ann Arbor, MI 48103
Price: $560,000
Sq.Ft: 1,513
Beds/Baths: 3/2
$/Sq.Ft:
$3700.1%
Sale Date: 11/14/2024
315 2nd Street #214, Ann Arbor, MI 48103
Price: $800,000
Sq.Ft: 1,469
Beds/Baths: 2/2
$/Sq.Ft:
$54547.3%
Sale Date: 10/22/2024
123 Worden Avenue, Ann Arbor, MI 48103
Price: $499,000
Sq.Ft: 1,414
Beds/Baths: 4/2
$/Sq.Ft:
$3534.6%
Sale Date: 11/1/2024
711 Hutchins Avenue, Ann Arbor, MI 48103
Price: $625,000
Sq.Ft: 1,708
Beds/Baths: 2/2
$/Sq.Ft:
$3661.0%
Sale Date: 11/7/2024
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