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$348,500

Beds
4
Baths
2.0
sq ft
2,177

214 Detroit St, South Lyon, MI 48178

214 Detroit St

SouthLyonCity_Oakland, MI 48178

  • 3 days on market
A great opportunity to own an investment property in the City of South Lyon, within easy walking distance of downtown for all the activities throughout the year. You could choose to live in one unit and rent to other to help with bills, and use the second unit for adult children , parents, or lease both units strictly for the rental income. Both units are currently rented , the total income is $2100 per month. Please allow 24 hours notice to schedule showings. BATVAI

Details

Property type

Single Family Residence

Est. home value

$238,402

Lot size

3,920 sq ft

Price per sq ft

$161

Year built

1928

Annual property taxes

$5,298

HOA

No

Price History

04/04/2025
Realcomp

Realcomp #20250021398

Listed
$348,500
+93.61%
08/07/2020
Realcomp

Realcomp #2200056110

Sold
$180,000
+35.34%
12/08/2014
Realcomp

Realcomp #214105753

Sold
$133,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

High school district: 

SouthLyon

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

$199,350
Asking price
$348,500
Closing costs (~8% of asking)
-$27,880
Est. remaining loan balance
-$121,270
Cash to seller
$199,350

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

Seller’s Loan History

Lender

Guaranteed Rate Inc

Loan start date

January 2022

Original loan amount

$130,000

Est. remaining balance

$121,270

Interest rate

3.11%

Loan type

New Conventional, 30 year

Seller

James D Kern and Jannina Kern

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: 04/08/2025 at 4:25 AM

Listing updated: 04/05/2025 at 6:06 AM

Listed by: Thomas J Kern, RE/MAX Platinum Phone #: (810) 227-4600

MLS: Realcomp #20250021398

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