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$400,000

Beds
2
Baths
2.0
sq ft
1,201

100 W 5th St Unit 505, Royal Oak, MI 48067

100 W 5th St Unit 505

Royal Oak, MI 48067

  • 3 days on market
Welcome to this stylish loft-style condo nestled in the heart of downtown Royal Oak! This urban retreat boasts an open interior flooded with natural light pouring in through expansive windows offering picturesque views of the vibrant cityscape. Step inside to discover a sleek updated kitchen featuring stainless steel appliances and modern finishes, perfect for culinary enthusiasts and entertainers alike. Adjacent to the kitchen is a cozy dining area. The inviting living room beckons with its warm fireplace and grants access to a private exterior balcony, where you can unwind and soak in the energy of downtown living. The bathrooms have been thoughtfully updated to provide both functionality and contemporary style. The primary bedroom is complete with a spacious walk-in closet featuring built-in storage solutions and an en suite bathroom. There is electric Hunter Douglas room darkening and shading electric blinds on all windows. Residents of this community enjoy access to a well-equipped weight room. Parking is a breeze with one assigned space in the secure parking garage, while additional storage needs are met with a designated unit (#69) in the basement.

Details

Property type

Condominium

Est. home value

$390,590

Lot size

Unknown

Price per sq ft

$334

Year built

2003

Annual property taxes

$6,623

Monthly HOA fee

$385

Price History

06/27/2024
Realcomp

Realcomp #20240033213

Removed
$424,950
+6.24%
06/27/2024
Realcomp

Realcomp #20240045798

Listed
$400,000
-5.87%
06/04/2024
Realcomp

Realcomp #20240033213

Price change
$424,950
-5.36%

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

Royal Oak

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$47,435
Asking price
$400,000
Closing costs (~8% of asking)
-$32,000
Est. remaining loan balance
-$320,565
Cash to seller
$47,435

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Private Mortgage Wholesale Inc

Loan start date

May 2018

Original loan amount

$361,000

Est. remaining balance

$320,565

Interest rate

4.4%

Loan type

New Conventional, 30 year

Seller

Daniel J Laginess

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 06/30/2024 at 10:35 PM

Listing updated: 06/28/2024 at 6:04 AM

Listed by: Kevin Devergilio, REALTEAM Real Estate Phone #: (586) 580-8092

MLS: Realcomp #20240045798

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