tomo logo

$635,000

Beds
4
Baths
3.0
sq ft
2,226

10802 M 140, South Haven, MI 49090

10802 M 140

South Haven Twp, MI 49090

  • 28 days on market
Seller Financing or Rent-to-Own options, NO BANKS needed. Welcome to your next profitable investment! This beautifully remodeled 4-bedroom, 3-bathroom lake cottage is ideally situated just 2 miles from the picturesque Lake Michigan, offering a rare blend of modern comfort and charming character.Resting in the heart of South Haven twp, this cottage is a short trip from the lake's tranquil waters and local attractions, making it a highly sought-after destination for vacationers.Enjoy the perfect balance of classic charm and contemporary convenience. The home has been meticulously renovated with high-end finishes, including hardwood floors, designer lighting, and a fresh, neutral color palette.Contact the listing agent for showings. There are short term renters there all yearThis home is already set up for short-term rentals with all necessary furnishings and amenities included. It has a proven track record of high occupancy and excellent guest reviews. AirDNA states this property has earning potential of over $70,000 annually as a short term rental. Seller financing options come with an added 10% to the purchase price. Rent-to-own options start at 5% down and monthly payments of $5000. Land contract options require 15% down and principal and interest payments are $3,500. PITI approx $4,600.

Details

Property type

Single Family Residence

Est. home value

$586,898

Lot size

1.22 acres

Price per sq ft

$286

Year built

1880

Annual property taxes

$6,534.07

Price History

08/25/2024
Realcomp

Realcomp #66024043835

Price change
$635,000
+5.83%
08/21/2024
Realcomp

Realcomp #66024043835

Listed
$600,000
+16.5%
01/04/2022
Realcomp

Realcomp #71021094678

Sold
$515,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

South Haven

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

$147,248
Asking price
$635,000
Closing costs (~8% of asking)
-$50,800
Est. remaining loan balance
-$436,952
Cash to seller
$147,248

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

Seller’s Loan History

Lender

United Wholesale Mortgage

Loan start date

December 2021

Original loan amount

$463,500

Est. remaining balance

$436,952

Interest rate

2.98%

Loan type

New Conventional, 30 year

Seller

Joseph John Le and Engracia Della Carlos Le

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?

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Status: Active

Tomo last checked: 09/19/2024 at 5:50 AM

Listing updated: 08/25/2024 at 5:53 PM

Listed by: Joseph J Le, CENTURY 21 C. Howard Phone #: (269) 381-9258

MLS: Realcomp #66024043835

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