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$235,000

Beds
3
Baths
1.0
sq ft
1,467

29012 Lorraine Ave, Warren, MI 48093

29012 Lorraine Ave

Warren, MI 48093

  • 71 days on market
    • Price drop $10,000↓
Welcome to your new home with endless opportunities! This is the perfect unicorn home that would work well for a primary home or investment opportunity. The best part of this home is the space that comes with it! After passing through the large living room you will find the kitchen with another large family room connected. After you tour the 3 spacious bedrooms, head down to the partially finished basement that features nearly 1500 sq ft of wide open space. Brand new luxury vinyl flooring is found throughout the entire first level. Whilst this home is move in ready for an owner, or for a tenant for those looking for a solid rental property, there are several opportunities to add value in modern upgrades. Situated on the corner you will find a large lot with a spacious backyard. Close to several parks, stores and activities including the Warren City Center where several events are hosted throughout the year.

Details

Property type

Single Family Residence

Est. home value

$246,445

Lot size

0.24 acres

Price per sq ft

$161

Year built

1957

Annual property taxes

$5,590

Price History

10/24/2024
Realcomp

Realcomp #20240068035

Price change
$235,000
-4.08%
10/02/2024
Realcomp

Realcomp #20240068035

Price change
$245,000
-3.88%
09/11/2024
Realcomp

Realcomp #20240068035

Listed
$254,900
+36.31%

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

Warren Con

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

$50,915
Asking price
$235,000
Closing costs (~8% of asking)
-$18,800
Est. remaining loan balance
-$165,285
Cash to seller
$50,915

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

August 2021

Original loan amount

$177,650

Est. remaining balance

$165,285

Interest rate

2.88%

Loan type

New Conventional, 30 year

Seller

Alexus Banks

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: 11/22/2024 at 3:10 AM

Listing updated: 10/24/2024 at 11:40 AM

Listed by: Brittany Barnett, EXP Realty LLC Phone #: (888) 501-7085

MLS: Realcomp #20240068035

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