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$562,000

  • Sold
  • Closed
  • Single Family
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OFFER DEADLINE @ 6 PM MONDAY, MAY 5TH. RARE opportunity to own one of Downtown Chelsea's multi-family homes! This 1920 Dutch Colonial 4-plex just steps away from shops, restaurants, and amenities yields about $66,000 a year in gross income, an impressive 82% growth in revenue over the past 6 years with potential to grow even more as the rental rates are below market rate. The property hosts 4 units. Unit 1 (main floor front): 2 bed, 1 bath; Unit 2 (main floor back): 1 bed, 1 bath; Unit 3 (upper): 1 bed, 1 bath; Unit 4 (basement): 1 bed, 1 bath. Leases expire May 1, 2026. There are 8 parking spots, a 2-car garage, and a spacious green backyard. Tenants share driveway, laundry, and on-site storage in basement. Roof was replaced in 2024. Less than 20 minutes to Ann Arbor and 30 to Jackson. turnkey passive income on this charming FULLY OCCUPIED property! These don't come around often, so schedule your showing today.

Full Property Details for 413 Madison St

General

  • Sold For: $562,000
  • Taxes: $7,205
  • Status: Closed
  • Type: Single Family
  • Source: SWMRIC_MLS
  • MLS ID: 25017653
  • Added to Site: 299 day(s) ago

Interior

  • Number of Fireplaces: 1

Parking

  • Total Spaces: 8
  • Parking Features: Concrete, Driveway, Paved

Location

  • Area: Ann Arbor/Washtenaw - A
  • County: Washtenaw
  • Cross Streets: Madison & Dexter-Chelsea
  • Driving Directions: E of Main Street, South of Dexter-Chelsea

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Forced Air

Utilities

  • Utility Description: Natural Gas Connected, Electricity Connected, Storm Sewer

Structural Information

  • # Buildings: 1
  • Construction: Aluminum Siding
  • Basement: Yes
  • Roof: Composition
  • Year Built: 1920

Lot Features

  • Lot Size (Acres): 0.4
  • Lot Size (Sq. Ft.): 17,315
  • Frontage: Paved
  • Lot Features: Sidewalk
  • Zoning: RS3

Financial Considerations

  • Tax Amount: $7,205.91
  • Terms: Cash, Conventional
  • Landlord Pays: Trash Collection, Electricity, Water, Sewer, Gas
  • Tenant Pays: None

Disclosures and Reports

  • Legal Description: *OLD SID - GC 07-570-033-00 C.V. 1L-19 COM AT NW COR OF LUCY E. GATES 2ND ADDITION TO THE VILLAGE OF CHELSEA, A RECORDED PLAT, TH S 81 DEG E25.06 FT IN N LINE OF SAID PLAT, TH N 533.24 FT IN THE E LINE OF MADISON STREET FORA PL OF BEG, TH S 84 DEG E 4 CHS, TH N 1 CH, TH N 84 DEG W 4 CHS TH S 1 CH, TO PLOF BEG BEING A PART OF SW FRL 1/4 SEC. 7 T2S R4E.
  • Property ID: 06-07-07-330-004

Listed by @properties Christie's Int'lAA, Giselle Gaitan
Sold by Guenther Homes, Inc., Brian Brickley

Listing agent

— 413 Madison St —

  • Giselle Gaitan

    @properties Christie's Int'lAA

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 413 Madison St

School District:Chelsea School District
NameGradesDistance
South Meadows Elementary School
335 Pierce Street, Chelsea, MI 48118
3-50.4 mi
North Creek Elementary School
699 McKinley Street, Chelsea, MI 48118
K-20.7 mi
Beach Middle School
445 Mayer Drive, Chelsea, MI 48118
6-80.3 mi
Chelsea High School
740 North Freer Road, Chelsea, MI 48118
9-120.7 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 413 Madison St

Date
Details
Price
Change
Source
6/12/2025
Sold
$562,000
2.18%
MLS
5/02/2025
Listed
$550,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by @properties Christie's Int'lAA, Giselle Gaitan
Sold by Guenther Homes, Inc., Brian Brickley

413 Madison Street, Chelsea, MI 48118 (MLS# 25017653) is a Single Family property that was sold at $562,000 on June 12, 2025. Want to learn more about 413 Madison Street? Do you have questions about finding other Single Family real estate for sale in Chelsea? You can browse all Chelsea real estate or contact a Coldwell Banker agent to request more information.