tomo logo

$375,000

Beds
5
Baths
3.5
sq ft
2,700

5204 Park Lake Rd, East Lansing, MI 48823

5204 Park Lake Rd

East Lansing, MI 48823

  • 50 days on market
    • Price drop $2,500↓
    • Open house Nov 09
Okemos schools,The house features many new updates which include: All newer windows/patio door, paint interior/exterior, heat exchanger for the furnace, water heater, main drain plumbing, new driveway /carpet. The house has two units. Upper unit has a master suite with double closets (15x18), bathroom, a deck, plus a large family room, living room, kitchen, laundry room with 1/2 bath, two hardwood floor BR (15x11, 13X10) and a shared bathroom. The lower unit has its own entry, kitchen, den (office), bathroom, and two BR (12X11, 12X10). It can be rented out for income/used as an in-law unit. Basement (~550 sqft) with lots of storage space. Two car garage. Less than 1.5 mi to MSU campus.

Details

Property type

Single Family Residence

Est. home value

$317,828

Lot size

0.46 acres

Price per sq ft

$139

Year built

1965

Annual property taxes

$6,131

Price History

10/31/2024
Realcomp

Realcomp #20240069339

Price change
$375,000
-0.66%
09/26/2024
Realcomp

Realcomp #20240069339

Price change
$377,500
-0.53%
09/16/2024
Realcomp

Realcomp #20240069339

Listed
$379,500
+80.71%

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

Okemos

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

$189,304
Asking price
$375,000
Closing costs (~8% of asking)
-$30,000
Est. remaining loan balance
-$155,696
Cash to seller
$189,304

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 2020

Original loan amount

$171,000

Est. remaining balance

$155,696

Interest rate

3.13%

Loan type

New Conventional, 30 year

Seller

Larry Sheng Chen and Yanping Wu

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: 11/05/2024 at 4:25 PM

Listing updated: 11/02/2024 at 3:15 PM

Listed by: Steve Koleno, Beycome Brokerage Realty LLC Phone #: (804) 656-5007

MLS: Realcomp #20240069339

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