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Back 413 Madison St
Off Market

413 Madison St

Chelsea MI 48118

2309 sq. ft.
0.4 ac.
Multi-Family
Last sold for $562,000
Giselle GaitanGiselle Gaitan, last sold this property on 12 June 2025 after 41 days on market.

Overview

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.

Features

2309 sq. ft. floor area
0.4 ac. lot size
Multi-Family

Estimated Value

We need at least 3 similar multi families sold in Chelsea over the last 12 months.

Property history for 413 Madison St

2025
Sold
$562,000
12 Jun 2025 by Giselle Gaitan, of @propertiesChristie's Int'l AA
2019
Sold
$325,000
12 Apr 2019 by Richard Taylor, of The Charles Reinhart Company

Happy sellers in Chelsea

92%
92% of sellers in Chelsea reported that their sale price either exceeded or met their price expectations.

Chelsea stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 5 reviews in Chelsea over the last 12 months.

Local market activity for multi families in Chelsea

In the last 12 months, 2 multi families similar to 413 Madison St, have been sold.

This represents a 100% decrease in multi families sales when compared to the previous 12 months.

Nearby agents

Compare and contact these top performing agents who’ve delivered exception customer service for their clients in Chelsea

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Tammy Lehman

Tammy Lehman is a recommended agent for Chelsea.  They have 13 local sales and collected 2 local reviews across the last 12 months.

  •   5   (25 reviews)
  •  2 Reviews in Chelsea
  •  13 Sales in Chelsea
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Tina Hess

Tina Hess is an award winning recommended agent for Chelsea.  They have 2 local sales and collected 2 local reviews across the last 12 months.

  •   5   (177 reviews)
  •  2 Reviews in Chelsea
  •  2 Sales in Chelsea
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James Morrison

James Morrison is a recommended agent for Chelsea.  They have 3 local sales and collected 1 local review across the last 12 months.

  •   5   (2 reviews)
  •  1 Review in Chelsea
  •  3 Sales in Chelsea
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Amy Armijo

Amy Armijo is a recommended agent for Chelsea.  They have 1 local sale and collected 1 local review across the last 12 months.

  •   5   (4 reviews)
  •  1 Review in Chelsea
  •  1 Sale in Chelsea
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