#81025023446, Jessica Carter, Listing office: Keller Williams Ann Arbor Mrkt
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 $6,035 with tenants paying utilities via bill back. A great investment opportunity.
Highlights
Home typeMulti Family
HeatingForced Air, Natural Gas
StatusActive
BasementYes
Lot size0.22 Acres
Year built1901
ParkingShared Driveway
MLS #81025016569
Summary
- Basement: Yes
- Parking: Shared Driveway
- Heating: Forced Air, Natural Gas
- List Price: $755,000
- HOA Amount: $0
- 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
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
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IDX provided courtesy of Realcomp II Ltd. Copyright © 2025 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/22/2025, 6:45:30 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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. The most common annual income of people living in Ann Arbor, MI is between $35k-100k. The majority of families are single, no kids. The majority of residents in this area have post secondary degree education.
How much money do the neighbors make?
21%
<35k
50%
35k-100k
23%
100k-200k
6%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
Doctorate
What types of families live nearby?
50%
Single, No Kids
8%
Single, with Kids
28%
Married, No Kids
14%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
11%
<11 yrs old
5%
12-17 yrs old
26%
18-34 yrs old
46%
35-64 yrs old
12%
65+ yrs old
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
All data provided by Home Junction and Claritas
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Frequently asked questions
About 508 W Summit St
The listing price of 508 W Summit St property is $755,000.
The property 508 W Summit St is a multi located in Ann Arbor, Michigan, 48103.
Active Listing: 508 W Summit St is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 508 W Summit St are: Bach Elementary School (GreatSchools Rating 7/10), Wines Elementary School (GreatSchools Rating 10/10), Northside Elementary School (GreatSchools Rating 7/10), Slauson Middle School (GreatSchools Rating 7/10), Forsythe Middle School (GreatSchools Rating 6/10), Tappan Middle School (GreatSchools Rating 6/10), Community High School (GreatSchools Rating 9/10), Skyline High School (GreatSchools Rating 9/10), Pioneer High School (GreatSchools Rating 8/10).
According to the records, the last property tax for 2024 is $17,860 (source: MLS/based on county public records data).
The last sale was on November 18, 2022 for $556,100 (source: MLS/tax record).
The year of construction for 508 W Summit St is 1901.
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 $755,000.
Ann Arbor, MI housing market in June 2025 saw over 54 listings sold above listed price, more than 21 sold at listed price and over 60 sold below. In June 2025 in Ann Arbor, MI there were 20.5% more homes for sale than in May. The median list price of listings available in June 2025 was $512,500, while the average time on the real estate market was 24 days.
From Rocket Homes Real Estate and based on county public records data.