tomo logo

$469,900

Beds
4
Baths
2.0
sq ft
2,248

555 W Breckenridge St, Ferndale, MI 48220

555 W Breckenridge St

Ferndale, MI 48220

  • 1 day on market
Welcome to this charming, fully furnished duplex in the heart of Ferndale, offering a fantastic investment opportunity! With two updated two-bedroom, one-bath units, this property is ideal for anyone looking for a turnkey Airbnb, mid- or long-term rental, or a house hack where you can live in one unit and rent out the other. Both units have been thoughtfully updated with remodeled kitchens, new windows, stylish light fixtures, new flooring, and brand-new appliances throughout. Each unit features its own HVAC system, electrical panel, and an enclosed balcony, providing private outdoor space for tenants. The home has also received significant upgrades, including a new roof within the last five years. Located within walking distance to downtown Ferndale and already city-approved as a turnkey Airbnb, long term AND short term rental. This property is perfect for investors, having previously ranked in the top 1% on Airbnb in the area. Don’t miss out on this incredible opportunity! Welcome Home!

Details

Property type

Townhouse

Est. home value

$472,960

Lot size

6,970 sq ft

Price per sq ft

$210

Year built

1941

Annual property taxes

$17,329

Price History

09/17/2024
Realcomp

Realcomp #20240069998

Listed
$469,900
+5.6%
05/26/2023
Realcomp

Realcomp #20230029186

Sold
$445,000
+93.48%
06/01/2015
Realcomp

Realcomp #215036092

Sold
$230,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

Ferndale

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

$103,458
Asking price
$469,900
Closing costs (~8% of asking)
-$37,592
Est. remaining loan balance
-$328,850
Cash to seller
$103,458

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

Seller’s Loan History

Lender

Ross Mortgage Corp

Loan start date

May 2023

Original loan amount

$333,750

Est. remaining balance

$328,850

Interest rate

6.28%

Loan type

New Conventional, 30 year

Seller

David Leavitt and Melissa Leavitt

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 5:35 AM

Listing updated: 09/18/2024 at 6:11 AM

Listed by: Jim Shaffer, Good Company Phone #: (248) 733-5811

MLS: Realcomp #20240069998

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