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$240,000

Beds
5
Baths
2.0
sq ft
1,765

23863 Middlebelt Rd, Farmington Hills, MI 48336

23863 Middlebelt Rd

Farmington Hills, MI 48336

  • 2 days on market
Welcome to this versatile 5-bedroom, 2-bathroom ranch situated on a spacious 0.49-acre lot in the heart of Farmington Hills. With 1,762 sq. ft. of living space, this home offers endless possibilities for large families, multi-generational living, or investors. Featuring two living rooms, two kitchens, and two separate entrances, it’s perfect for use as an in-law suite, teen apartment, or even a home-based business. The home’s bathrooms were updated in 2024 with new vanities and toilets. The home has a detached 2-car garage and shared laundry space. Conveniently located near major freeways and top-rated Farmington Hills schools, this property provides the option to live in one side and rent the other, or rent out both for added income. Previously generating $1,900/month in rent, it holds even more potential for savvy investors. Whether you're looking for a primary residence, investment property, or both, this home is a rare find in a prime location. Schedule your showing today! Property Sold AS-IS.

Details

Property type

Single Family Residence

Est. home value

$237,155

Lot size

0.49 acres

Price per sq ft

$136

Year built

1937

Annual property taxes

$3,922

Price History

09/18/2024
Realcomp

Realcomp #20240070455

Listed
$240,000
+60%
05/10/2018
Realcomp

Realcomp #218014911

Sold
$150,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

Farmington

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

$132,375
Asking price
$240,000
Closing costs (~8% of asking)
-$19,200
Est. remaining loan balance
-$88,425
Cash to seller
$132,375

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

July 2021

Original loan amount

$125,000

Est. remaining balance

$88,425

Interest rate

2.26%

Loan type

New Conventional, 10 year

Seller

Padma Sanam Venkata and Shailendra N Sanam Venkata

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: 09/20/2024 at 9:15 PM

Listing updated: 09/20/2024 at 7:41 AM

Listed by: Priyanka Dabhi, KW Professionals Phone #: (734) 459-4700

MLS: Realcomp #20240070455

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