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$300,000

Beds
3
Baths
3.0
sq ft
1,486

509 N Reese St, South Lyon, MI 48178

509 N Reese St

South Lyon, MI 48178

  • 2 days on market
    • Open house Mar 15
This beautifully maintained condo, built in 2001, features a stylishly remodeled kitchen with an open floor plan, upgraded in 2016 with granite countertops and all-new appliances. The spacious layout includes three bedrooms, two full baths, and two half baths. Enjoy outdoor living with a private deck balcony off the living room and a patio accessible from the finished walk-out basement.

Details

Property type

Townhouse

Est. home value

$293,539

Lot size

Unknown

Price per sq ft

$202

Year built

2001

Annual property taxes

$4,159

HOA fee

$378

Price History

03/13/2025
Realcomp

Realcomp #81025009352

Listed
$300,000
+25%
04/07/2021
Realcomp

Realcomp #2210007205

Sold
$240,000
+26.32%
10/26/2018
Realcomp

Realcomp #218092324

Sold
$190,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

South Lyon

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

$79,000
Asking price
$300,000
Closing costs (~8% of asking)
-$24,000
Est. remaining loan balance
-$197,000
Cash to seller
$79,000

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

Seller’s Loan History

Lender

Mortgage 1 Inc

Loan start date

April 2021

Original loan amount

$216,000

Est. remaining balance

$197,000

Interest rate

2.81%

Loan type

New Conventional, 30 year

Seller

William Mikkelsen

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: 03/15/2025 at 12:15 PM

Listing updated: 03/14/2025 at 4:19 AM

Listed by: Hannah Deacon, Shain Park, REALTORS Phone #: (248) 633-8520

MLS: Realcomp #81025009352

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