508 W Summit St Ann Arbor, MI 48103
Property details
About 508 W Summit St
Perched atop a corner lot in the always desirable Water Hill, sits this 5 unit apartment building. With strong rents and virtually zero vacancy, this investment features not just location, but some big ticket updates- including a new roof (2022) and new laundry center (2024). All units are either studios or 1 bedroom and all have a full bathroom and kitchen. Driveway parking. Monthly rent roll is $5,835 with tenants paying utilities via bill back. A great investment opportunity.
Highlights
Summary
- Basement: Yes
- Parking: Shared Driveway
- Heating: Forced Air, Natural Gas
- List Price: $795,000
- Annual Tax Amount: $17,860
- Tax Year: 2024
- Directions: Summit at Spring.
- Year Built: 1901
- Lot Size: 0.22 Acres
- MLS Number: 81025016569
- MLS Name: Greater Metropolitan Association of REALTORS
- Office Name: J Keller Properties, LLC
- Office Phone: (734) 369-8239
- Listing Agent: Jonathon Keller
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Last updated on: 4/29/2025, 4:20:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$795,000
508 W Summit St
$9,441
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Nov 18, 2022 | Home Sold | $556,100 |
| Jul 10, 2014 | Home Sold | $415,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $269,800 | $17,860 |
| 2023 | $265,300 | $9,410 |
| 2022 | $247,700 | $9,410 |
| 2021 | $235,900 | $11,463 |
| 2020 | $221,500 | $10,728 |
| 2019 | $209,500 | $10,349 |
| 2018 | $192,200 | $10,084 |
| 2017 | $183,000 | $9,838 |
History based on county public records data.
Nearby schools
7
Bach Elementary School
Public District KG-5
0.9 mi
•600 W Jefferson St
10
Wines Elementary School
Public District KG-5
1.1 mi
•1701 Newport Rd
7
Northside Elementary School
Public District KG-5
1.2 mi
•912 Barton Dr
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $76,681. Typical income of Ann Arbor, MI residents is between $35k-100k annually. Most families are single, no kids. Most residents in this area have post secondary degree education.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
Men's Tennis
Skiing/snowboarding
Yoga/pilates
Where do the neighbors shop?
Bloomingdales
Nordstrom
H&M
Where do the neighbors go to eat?
Bonefish Grill
California Pizza Kitchen
Dominos Pizza
What do the neighbors drive?
Lexus
BMW
Audi
What do the neighbors listen to?
News
Talk/Personality
Alternative
This home is located at 508 W Summit St in Ann Arbor, MI and zip code 48103 in the West neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since April 21, 2025 and is currently priced at $795,000.
While more than 39 listings in Ann Arbor, MI in March 2025 were sold above asking price, there were more than 13 listings sold at asking price, and more than 40 were sold below. The number of homes for sale in Ann Arbor, MI increased by 30.3% between February and March 2025. While the average time on the market in March 2025 was 42 days, the median list price was $506,655.