306 Summer St. Street Adrian, MI. 49221

Q: How much do I need for a down payment in Adrian?

For a home priced around $134,900 in Adrian, you would need approximately $26,980 for a conventional 20% down payment, or as little as $4,722 with an FHA loan (3.5% down). In 2025, with mortgage rates around 6.5-7%, many buyers are exploring adjustable-rate mortgages (ARMs) or rate buydowns. First-time homebuyer programs in mi may offer down payment assistance through MSHDA (Michigan State Housing Development Authority).

Q: How long does it take to buy a house in Adrian?

The home buying process in Adrian typically takes 30-45 days from accepted offer to closing in 2025. This includes: home inspection contingency period (7-10 days), appraisal completion (1-2 weeks with current lender backlogs), and mortgage underwriting (2-3 weeks). Cash purchases can close in as little as 10-14 days. Getting pre-approved before house hunting is essential in today's market to compete with other buyers.

Q: How do I schedule a showing for this property?

This property is not currently listed for sale on the MLS. However, many homeowners are open to selling for the right price. Click 'More Info' above to inquire about this specific property, or browse homes for sale in Adrian. You can also set up alerts to be notified when similar properties come on the market.

Q: What should I look for during a home inspection in MI?

A thorough home inspection in MI should prioritize: Roof condition (crucial for Michigan winters and ice dams), foundation and basement (check for water intrusion, cracks, and radon - Michigan has elevated radon levels), HVAC system (furnace efficiency rating and age - replacements cost $4,000-$8,000), plumbing (galvanized pipes in pre-1970 homes need attention), electrical panel (200-amp service is standard for modern homes), and windows/insulation (major energy cost factor).

Q: Is 2026 a good time to buy a home in Adrian?

The 2026 housing market in Adrian presents both opportunities and challenges. Mortgage rates have stabilized in the 6.5-7% range after peaking in 2023. Home prices in Metro Detroit have appreciated 3-5% year-over-year, with Adrian following similar trends. Inventory remains tight but has improved from 2022-2023 lows. For buyers, the reduced competition compared to the 2021-2022 frenzy means more negotiating power. The best strategy is to get pre-approved, know your budget, and be ready to act when the right property appears.

Q: What are the current mortgage rates for Michigan home buyers?

As of January 2026, mortgage rates in Michigan for well-qualified buyers are approximately: 30-year fixed: 6.5-7.0%, 15-year fixed: 5.75-6.25%, 5/1 ARM: 5.5-6.0%, FHA loans: 6.25-6.75%, VA loans: 6.0-6.5%. Rates vary based on credit score, down payment, and loan type. For a $134,900 home with 20% down, the monthly principal and interest payment would be approximately $718 at 7% interest.

Q: How competitive is the housing market in Adrian?

The Adrian housing market in 2026 is moderately competitive. Well-priced homes in good condition typically receive 2-5 offers and sell within 2-3 weeks. Key factors affecting competitiveness: price point (homes under $300K see more competition), condition (move-in ready homes command premiums), and location (proximity to downtown, schools, and highways). To compete effectively, come with pre-approval, consider earnest money deposits of 1-2% of purchase price, and be flexible on closing dates.

Price:$134,900|Beds: 4|Baths: 1.1|Area: 1080 sq ft

Overview

This property sits on Summer St. within Adrian's James Berry's Sub community, an area known for its established homes and neighborhood appeal. With 4 bedrooms and 1.1 bathrooms spanning approximately 1,080 square feet, this 1890-built home provides ample room for daily living. This type of home typically attracts larger families seeking room to grow drawn to the Adrian area's amenities and accessibility. While not currently listed, properties in this Adrian neighborhood have shown steady market interest from buyers and investors alike. Homeowners curious about their property's current market position can request a complimentary valuation report from our Adrian real estate experts.

Neighborhood Character

James Berry's Sub is one of Adrian's established neighborhoods, featuring mid-century homes with mature landscaping and tree-lined streets. Homes of this vintage in Adrian often feature craftsmanship and architectural details characteristic of pre-war construction. Located within Lenawee County, Adrian residents enjoy access to county services, regional parks, and the broader Metro Detroit area.

charming city corner lot with great potential. This solidly built home is bursting with potential for the right buyer! Situated on a spacious corner lot in a convenient city location, this property features durable vinyl siding, a detached garage, and "good bones" that offer a strong foundation for your personal touch. Inside you'll find a home that's ready for transformation. While it could benefit from some repairs, cleaning, and decluttering, it offers a great opportunity to build equity and customize the space to your taste. A new roof is needed, but with the right vision this home could truly shine. Whether you're an investor, flipper, or a buyer looking for a starter home.

More Information

MLS Number: 56050178172
Price: $134,900.00
Listing Start Date: 12/19/2025
Current MLS Status: Off Market
Status Date: 07/01/2026
Original Listing Price:
Year Built: 1890
Square Footage: 1080
Price per SqFt: $124.91
Bedrooms: 4
Full Bathrooms: 1
Half Bathrooms: 1
Total Tax: $3,015
Has Basement: Yes
Down Payment Assistance: Call us for resources

Public Record Information

Valuation

Estimated Value

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Range of Comparable Sales

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Factors Influencing Value

Several factors typically influence property values in this area:

Location: Proximity to employment centers, quality schools, and amenities in Adrian
Character: Older homes may offer unique architectural details but could require updates to major systems
Condition: Updated kitchens, bathrooms, and flooring typically command price premiums
Market Timing: Seasonal trends and inventory levels affect negotiating position

Exact Location

map of 306 Summer St., Adrian, MI. 49221

Click for interactive map

Estimated Monthly Expenses

Annual property taxes are approximately $3,015, based on a taxable value of $34,858. In Michigan, property taxes are calculated using the State Equalized Value (SEV), typically 50% of market value. Owner-occupants may qualify for the Principal Residence Exemption (PRE), which exempts the property from the 18-mill school operating tax—potentially saving $1,000-$3,000 annually. Budgeting approximately $251 per month for property taxes helps buyers understand total housing costs.

Note: Property taxes may be reassessed upon sale. Michigan's Proposal A limits annual increases to 5% or inflation (whichever is less) for the current owner, but this cap resets when ownership transfers. Buyers should factor potential tax adjustments into their budget.

Total Monthly Cost	$1,220
HOUSING
Mortgage Payment (P&I, 20% down)	$
Property Tax	$
Homeowner's Insurance	$
UTILITIES (Estimated)
Heating	$
Electric	$

Edit any value to recalculate total

MLS Listing History

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Schools Nearby

Free Home Renovation Cost Estimator

Planning renovations for 306 Summer St. Adrian, MI. 49221? Get instant cost estimates for kitchen remodels, bathroom renovations, flooring, roofing, and more. Our free renovation calculator helps you budget accurately for your home improvement projects.

Kitchen Remodel
Bathroom Renovation
Flooring
Roofing
HVAC
Windows & Doors

Renovation Cost FAQs for Adrian, MI

Kitchen remodel costs in MI typically range from $15,000 to $75,000 depending on the scope. A minor kitchen remodel averages $15,000-$25,000, while a major kitchen renovation with new cabinets, countertops, appliances, and flooring can cost $40,000-$75,000 or more. Use our free renovation cost estimator for a personalized estimate based on your home's details.

Bathroom renovation costs typically range from $6,000 to $35,000. A basic bathroom update with new fixtures and paint costs $6,000-$15,000. A full bathroom remodel including new tile, vanity, toilet, shower/tub, and plumbing updates averages $15,000-$35,000. Luxury bathroom renovations with high-end finishes can exceed $50,000.

The renovations with the best return on investment (ROI) include: Garage door replacement (93-97% ROI), manufactured stone veneer (92-96% ROI), minor kitchen remodel (72-81% ROI), new siding (68-76% ROI), and window replacement (67-72% ROI). Curb appeal improvements and kitchen/bathroom updates typically provide the highest returns when selling your home.

Flooring costs vary by material: Laminate flooring (installed) $3-$8/sq ft, Luxury vinyl plank (LVP) $4-$10/sq ft, Hardwood flooring $8-$15/sq ft, Tile flooring: $7-$15/sq ft, Carpet: $3-$12/sq ft. For a 1080 sq ft home, expect to pay between $4,500 and $22,500 for full flooring replacement.

New roof costs depend on size and material. For a typical single-family home: Asphalt shingles: $8,000-$15,000, Architectural shingles: $10,000-$20,000, Metal roofing: $15,000-$30,000, Tile or slate: $20,000-$50,000+. Factors affecting cost include roof pitch, complexity, accessibility, and whether a tear-off is needed.

Our free renovation cost estimator is pre-loaded with this property's details including 1080 square feet of living space, 4 bedrooms, and 1.1 bathrooms. Simply select the renovation projects you're considering to get instant cost estimates based on current market rates for Adrian, MI.

Buying & Selling a Home in Adrian, MI

For a home priced around $134,900 in Adrian, MI, you would need approximately $26,980 for a conventional 20% down payment, or as little as $4,722 with an FHA loan (3.5% down). In 2025, with mortgage rates around 6.5-7%, many buyers are exploring adjustable-rate mortgages or rate buydowns. First-time homebuyer programs through MSHDA may offer down payment assistance. Contact our team to discuss financing options and get connected with trusted lenders.

Closing costs in MI typically range from 2-5% of the purchase price. For this property, expect closing costs between $2,698 and $6,745. This includes title insurance, appraisal fees ($400-$600), lender origination fees, escrow deposits, and recording fees. Michigan has a transfer tax of $7.50 per $1,000 of sale price (typically paid by seller) plus $0.55 per $500 county tax. Use our monthly expense calculator above to estimate your total housing costs.

The home buying process in Adrian typically takes 30-45 days from accepted offer to closing. This includes time for home inspection (7-10 days), appraisal (1-2 weeks), and mortgage underwriting (2-3 weeks). Cash purchases can close in as little as 10-14 days. Getting pre-approved before house hunting is essential to compete effectively and speed up the process. View all homes for sale in Adrian to start your search.

Property taxes in Adrian (49221) are based on the State Equalized Value (SEV), typically 50% of market value in Michigan. This property has annual taxes of approximately $3,015. Michigan offers a Principal Residence Exemption (PRE) that reduces taxes by 18 mills for owner-occupied homes, potentially saving $1,000-$3,000 annually. See the estimated monthly expenses section for a breakdown including taxes, insurance, and utilities.

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The comparable sales shown above represent recent transactions for similar properties in the area. When evaluating these comps, consider how each property's specific features—such as updates, lot characteristics, and exact location—may differ from this Adrian home. Properties closest in size to this 1,080 square foot, 4-bedroom home typically provide the most relevant price guidance. Our team can provide a detailed comparative market analysis upon request.

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The data relating to real estate on this web site comes in part from the Internet Data Exchange (IDX) Program of Realcomp Ltd.

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and detailed information about them includes the Listing Broker's Firm Name. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Listing Provided by Howard Hanna Real Estate Services-Adrian Office Contact Info: (517) 263-4100