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$185,000

Beds
5
Baths
3.0
sq ft
2,148

338 College St, Olivet, MI 49076

338 College St

Olivet, MI 49076

  • 51 days on market
Massive 5 Bedroom 3 Bath House conveniently located just a block away from Olivet College, Currently used as student housing with individual leases in place for the upcoming school year. Great income producing property capable of over 25k per year in revenue or it could be utilized as single family house as well. Many recent updates including water heater and furnace within last 2 years. Great spacuious house with hardwood floors, wraparound porch, nice yard and a great location.

Details

Property type

Single Family Residence

Est. home value

$146,828

Lot size

0.32 acres

Price per sq ft

$87

Year built

1942

Annual property taxes

$3,439.32

Price History

07/30/2024
Realcomp

Realcomp #64024039260

Listed
$185,000
+68.18%
11/05/2021
Realcomp

Realcomp #64021102653

Sold
$110,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

Olivet

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

$87,671
Asking price
$185,000
Closing costs (~8% of asking)
-$14,800
Est. remaining loan balance
-$82,529
Cash to seller
$87,671

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

Seller’s Loan History

Lender

Flagstar Bank Fsb

Loan start date

November 2021

Original loan amount

$88,000

Est. remaining balance

$82,529

Interest rate

2.86%

Loan type

New Conventional, 30 year

Seller

Michael W Ormsby and Kristin N Ormsby

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 7:15 PM

Listing updated: 07/30/2024 at 5:43 PM

Listed by: William Coats, Berkshire Hathaway HomeServices Michigan Real Esta Phone #: (269) 565-3311

MLS: Realcomp #64024039260

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