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$2,189,000

Beds
5
Baths
4.5
sq ft
4,845

5302 Institute Ln, Houston, TX 77005

5302 Institute Ln

Houston, TX 77005

  • 91 days on market
    • Price drop $106,000↓
Stunning Tudor home, built in 1923(per HCAD) has been thoughtfully expanded & restored, & exudes timeless elegance. The home showcases a unique original design that features sunrooms on both side of the home. Greeted by a gated drive w/ parking court & 3 car garage w/ guest quarters providing ample space for vehicles & guests. Outdoors you will find a jetted spa, fountain, flagstone patio & sprawling backyard, perfect for outdoor entertaining or relaxation. Inside, the home offers 5 bedrms, 2 studies, game rm, 4 full baths & a powder rm. The remarkable living area stretches 30 feet & features back-to-back fireplaces to the den, creating a cozy yet spacious atmosphere. Large windows flood the interior w/ natural light, seamlessly connecting the indoor & outdoor living spaces. Additional highlights include 2 balconies & a basement w/ space for wine storage. Situated just blocks away from the Museums, Rice University, & close to the Texas Medical Center & Downtown. All info per seller.

Details

Property type

Single Family Residence

Est. home value

$2,356,616

Lot size

0.33 acres

Price per sq ft

$452

Year built

1923

Annual property taxes

$41,705

Price History

05/13/2024
Houston

Houston #45391841

Price change
$2,189,000
-4.62%
04/05/2024
Houston

Houston #45391841

Listed
$2,295,000

Schools & Community

Neighborhood: 

University Place

Elementary school: 

POE ELEMENTARY SCHOOL

Middle school: 

LANIER MIDDLE SCHOOL

High school: 

LAMAR HIGH SCHOOL (HOUSTON)

School district: 

Houston

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

$1,927,259
Asking price
$2,189,000
Closing costs (~8% of asking)
-$175,120
Est. remaining loan balance
-$86,621
Cash to seller
$1,927,259

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

Seller’s Loan History

Lender

Houston Capital Mtg

Loan start date

September 2000

Original loan amount

$200,000

Est. remaining balance

$86,621

Interest rate

8.04%

Loan type

Not Provided, 30 year

Seller

George L Parker and Eva K Parker

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: 07/05/2024 at 11:40 PM

Listing updated: 05/13/2024 at 4:39 PM

Listed by: Tim Surratt, Greenwood King Properties - Kirby Office Phone #: (713) 524-0888

MLS: Houston #45391841

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