Michigan Investors: File your Gast Act

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It was hot news in 1976, but today who knows about Michigan’s Mathieu-Gast Act?

If you’ve ever put a considerable amount of capital into rental maintenance in a single year, this is worth checking out. As long as a simple form is filed by the end of the year in which the work was completed, the typical increase on property taxes through an increase in Assessed Value can be halted until the next time the home is sold.

The Mathieu-Gast Home Improvement Act of 1976 was co-sponsored by state Sen. Harry Gast, R-St. Joseph, and state Rep. Thomas Mathieu around the concept that homeowners and landlords should not be penalized with higher taxes for making home improvements that benefit the community around them.

Certain stipulations do exist; for example, work conducted without necessary permits does not qualify. The Mathieu-Gast Act only applies to “normal maintenance.” According to Michigan.gov Bulletin 7 of 2014, the following repairs are considered “normal maintenance” if they are not part of a structural addition or completion:

(a) Outside painting.
(b) Repairing or replacing siding, roof, porches, steps, sidewalks, or drives.
(c) Repainting, repairing, or replacing existing masonry.
(d) Replacing awnings.
(e) Adding or replacing gutters and downspouts.
(f) Replacing storm windows or doors.
(g) Insulating or weather stripping.
(h) Complete rewiring.
(i) Replacing plumbing and light fixtures.
(j) Replacing a furnace with a new furnace of the same type or replacing an oil or gas burner.
(k) Repairing plaster, inside painting, or other redecorating.
(l) New ceiling, wall, or floor surfacing.
(m) Removing partitions to enlarge rooms.
(n) Replacing an automatic hot water heater.
(o) Replacing dated interior woodwork.

The Michigan.gov form complete with instructions & guidelines for filing are hosted HERE.

– Pete Bruinsma, Broker, Grand River Realty & Life Cycle Property Management

 

sources: Harold-Palladium, John Dobberstein, Jun 26, 1999, RPOAonline.org, GRcity.us

[Sold] Wilcox Park Drive, Eastown

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1420 Wilcox Park Drive – $247,500
Experience the beauty of the Arts and Crafts lifestyle married to modern convenience and efficiency with this built-to-last fully-restored 1916 Eastown Craftsman. From this unique location you may walk your dog past St Thomas Parish, through Wilcox Park, and through Eastown neighborhood shopping, restaurants, night life and public transportation. All of these are nearly adequate reasons to leave your brand new kitchen, two new full baths, 2nd floor laundry, third floor master bed/living room, sleeping porch, within the comfort of new windows, electricity, hvac, and roof. Entertain in warmer months from your stocked garage bar with pass-through serving window to your fenced back yard as guests relax on your newly paved patio.

[Sold] Fulton Heights 4 Bedroom Craftsman $187,500

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This wonderful 4 bedroom Craftsman located in Fulton Heights features a popular balance of urban walkability and a slightly slower uptown neighborhood pace. You’ll meet all of your neighbors from your large front porch, grow veggies in the back, avoid the snow in the two stall garage and relax on the deck with fenced yard. At the end of the street, Fuller Park features a popular dog park, also separate picnic tables, basketball courts and softball. Across the street Hillcrest Community Garden is one of the largest in Michigan. The home features large living areas, hardwood floors, oak trim and comes with a newer furnace, roof, a main floor guest bath and second floor main bath. The owners look forward to passing this gem to the next buyer and hope they experience just as much enjoyment.

[Sold] great house.

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Congrats Joel Potrykus and Ashley Young for picking up this adorable West Side home at the top of the hill!

“Welcome to this adorable 3 bd, 1 bath home on the popular NW side of Grand Rapids! This home has more space than you might think at first glance! As you walk in, you’ll love the hardwood floors, open living/dining area with lots of light and a great view of the backyard, very functional kitchen with plenty of storage space, an updated bathroom with beautiful tile work and two bedrooms. Upstairs is the master bedroom with adjacent office area and walk in closet. Downstairs is a walk-out basement with family room, large utility/storage room with a bar. Brick paver patio out back with a private yard! One-stall garage here too!” – Keller Williams listing

[Sold] Centrally Located Historic Tudor $179,900

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This wonderful Tudor-style Craftsman at 656 Lake Drive SE marks the entrance of Historic Fitch Place and Windsor Terrace, abutting Heritage Hill. This well-built grand three-story home features site-cut white oak flooring and trim throughout. The main living area has been opened up a bit to create a nice flow from kitchen to dining room to living room for entertaining guests. The luxurious double-sized second floor bedroom used to be two rooms. The third bedroom nestled into the third floor surrounded by a bonus workshop is also quite large and comfortable. Two off-street parking spots and a small garage are a rarity and a special advantage. The current owners will find the tight-knit neighborhood feel and the famed annual Halloween street party tough to leave behind.

 

Creston/Cheshire FSBO 3BR/1.5BA Discovery Purchased for $112,500

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For sale by owner at 1105 Aberdeen discovered for a buyer. Seller having trouble selling due to lots of small repairs. Sold $112,200. Two large bedrooms on the upper level and third bedroom on main floor. Kitchen with pallet highlight wall and plenty of cabinet space, full bath, entry way, 3 season room and large living room/dining room area on the main level. Basement 1/2 bath, washer and dryer and storage space.

 

[Sold] 5744 Rodney

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New 4 bedroom 3 bath home walkout ranch home with 9′ ceilings thru out the home in Grandville Schools by RDI Homes. Home has main floor laundry, solid surface tops in the kitchen, fireplace with 10′ tall trey ceiling in the family room and much more.Lower level has 2 bedroom and 1 full bath. Large family rec room that walks out to 12’X12′ concrete patio. Large 2 1/2 car garage, with a large front porch. Landscaping, underground sprinkling and hydroseedin are included.

Classic 1-Owner West Side Gem – Sold

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Congrats Claire Breen on her purchase of this one-of-a-kind West Side gem. The well-built one-owner home featured well-preserved hardwood floors under a loose layer of carpet, and a walk-up attic framed in for a future master suite. Comes with the tremendous bonuses of a classic West-sider basement bar with fully intact mural and a two stall garage. With the use of an escalation clause, Grand River Realty was able to save the buyer about $5,000 on the purchase.

[Sold] 563 Maryland Condo

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Grand River Realty is proud to have sold this Michigan Oaks condo within a week of listing for a price that exceeds any other historic sale in the Bel Air condo association.

“This is a rare opportunity in the desirable Michigan Oaks neighborhood, an affordable condo with ultra-convenient location in a beautiful wooded setting. Plentiful windows allow natural light to illuminate the freshly cleaned and painted large open living spaces. Due to a unique lot layout there are four points of entry. Guests use the main front entrance or follow their noses to the grilling station off the screened-in back porch. Dodge the weather with attached garage entry, or walk out to the basement patio with new retaining wall. Owner-curated flower gardens are permitted as are pets with association approval. Ideal central location equally convenient to downtown Grand Rapids (9 min), Knapp’s Corner (5 min) and Centerpointe and Eastbrook Malls (10 min).”

[Sold] 1875 Queen Anne 3 Unit for Sale, $124,900

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Grand Rapids Michigan Investment Property for sale. This beautiful Queen Anne-style English Baroque revival brick triplex is a piece of Grand Rapids history, just north of downtown. In addition to the obvious features this property adds a fenced in back yard, off street parking and a garage, attributes that could make this a nice owner-occupant dwelling with two additional cash flowing units. Located a few streets away from the new Meijer and fast development on Bridge St.

[Sold] 333 Washington SE, Heritage Hill 4 Unit

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We were able to procure this home for an investor, and Life Cycle Property Management will be in charge of prepping it and leasing it out. Check here for this and other listings for lease!

Life Cycle Property Management provides investment consulting and cash flow analysis services through Pete at Grand River Realty, and full service project management through Kory at Emerald Advantage. We keep our managed properties healthy, clean and aesthetically pleasing for landlords, tenants and the community around them.