5116 Mapleridge Comps .pdf
Greg J Steinsdoerfer Petitioner V City Of Portage Respondent · 26-002835-TT
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Michigan Tribunal, My name is Greg Steinsdoerfer. My family and I reside at 5116 Mapleridge Drive in Portage Michigan. We previously lived across the street from this property for 7 years prior to purchasing it in January of 2025. The home sat vacant for approximately a year before it was put on the market. After approximately 6 months we closed on the property which included the wooded adjacent property. Although the home was well built, the previous owners did not complete any interior updates for many decades. This likely contributed to the house staying on the market at a time when most were selling quickly. You are welcome to flip through the pictures in the appraisal and the inspection reports to see for yourself the condition. The sellers also disclosed that two kitchen appliances were inoperable, there was a history of water entering the basement (which after having lived there we can confirm is true). The inspection report also listed the need for a new electrical panel box, missing insulation in the attic leading to significant ice damming (which we can also confirm now), mechanicals that needed repair (washer, furnace and hot water heater). This was a home in need of significant updating and previous potential buyers looked elsewhere (average sale in this market was approximately 30 days at that time). The appraisal came in at $380,000 indicating that the sale price for the home and vacant lot at that time was market value. The City of Portage original SEV calculation that was sent for the home and the vacant lot was listed as the equivalent of $450,000 market value. This has now been reduced to $430,000 after we appealed in March. This represented a 20% increase in value; whereas the home we sold was given an SEV calculation by the city of Portage at 30% less than the sale price (a 50% difference given that these two homes were sold on the same day on the same street). Estimates of market growth in this area range from 2-5% annually in 2025 (not 20%). Please let me know if you have any questions. Greg Steinsdoerfer
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6548 Trotwood Drive Sale Price $230,000 Sale Date 04/04/2025 Sq footage 3,874 Lot Size .33 acres Year built 1964 Bed 4 Bath 3 Condition Similar
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7724 Hampton Drive Sale Price $350,000 Sale Date 07/03/2025 Sq footage 2,515 Lot Size .25 acres Year built 1966 Bed 4 Bath 3 Condition Similar
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3017 Lamplite Circle Sale Price $385,000 Sale Date 1/24/2025 Sq footage 2,317 Lot Size .33 acres Year built 1977 Bed 4 Bath 4 Condition Significant differences, including finished basement, updates throughout the whole house, located on a cul-de-sac.