Back 47 South 3rd Street
Off Market

47 South 3rd Street

Niles MI 49120

3325 sq. ft.
0.18 ac.
Multi-Family
Last sold for $360,000
Catherine WaggonerCatherine Waggoner, last sold this property on 06 November 2025 after 61 days on market.

Overview

This fully remodeled 3-unit property in the City of Niles is turnkey and ready for its next owner. It offers two 2-bedroom/1-bath units and one 1-bedroom/1-bath unit, all updated with new electric, new windows, plumbing, and HVAC plus a 2-zone system for efficiency. The front porch is newly rebuilt to enjoy throughout the year. Features include two water heaters, coin-operated laundry in the basement for added income, and a third floor blank canvas for expansion, storage, or office space. With projected monthly income of $3,800-$4,400 and the flexibility of being vacant, the new owner can create their own rental model from the start. Located near downtown shops, dining, and community attractions, this is a prime opportunity for investors seeking cash flow in a growing market.

Features

3325 sq. ft. floor area
0.18 ac. lot size
Multi-Family

Estimated Value

Based on this property and similar multi families sold in Niles over the last 12 months, the estimated median property value of 47 South 3rd Street is $132.5k.

Median value
$132.5k
Estimated value range
$115k - $360k
Median days on market
51
Estimated value trend
-12%
decrease over the last 12 months
Average days on market is based on recent, comparable sales in Niles. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 47 South 3rd Street

2025
Sold
$360,000
06 Nov 2025 by Catherine Waggoner, of CK Home Group

Happy sellers in Niles

89%
89% of sellers in Niles reported that their sale price either exceeded or met their price expectations.

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

This is based on voluntary sentiment collected from 7 reviews in Niles over the last 12 months.

Local market activity for multi families in Niles

In the last 12 months, 3 multi families similar to 47 South 3rd Street, have been sold.

This represents a 43% increase in multi families sales when compared to the previous 12 months.

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