tomo logo

$270,000

Beds
4
Baths
1.0
sq ft
1,068

642 Cornell Ave, East Lansing, MI 48823

642 Cornell Ave

East Lansing, MI 48823

  • 50 days on market
Certified Rental Income! Current income is $2150 per month, going up to $2200 July 31, 2025 for the next year! This 4-bedroom home is on a 5,401 sq ft stunning lot! Four-minute drive or 15-minute walk to Grand River restaurants and campus. It can be leased to four unrelated individuals, but your work is done—the leases are in place. There is a large storage shed in the enormous backyard. The main level has wood floors, a bar, an inviting front porch, and a full kitchen with a refrigerator, microwave, and stove. Enjoy the on-site laundry room with a washer/dryer. Don't forget: good renters are like free money! Go State!

Details

Property type

Single Family Residence

Est. home value

$304,589

Lot size

5,227 sq ft

Price per sq ft

$253

Year built

1941

Annual property taxes

$7,651

Price History

10/03/2024
Realcomp

Realcomp #20240032786

Removed
$280,000
+3.7%
10/03/2024
Realcomp

Realcomp #20240074865

Listed
$270,000
-3.57%
08/02/2024
Realcomp

Realcomp #20240032786

Price change
$280,000
-3.45%

Schools & Community

Neighborhood: 

Avondale Square

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

East Lansing

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

$72,916
Asking price
$270,000
Closing costs (~8% of asking)
-$21,600
Est. remaining loan balance
-$175,484
Cash to seller
$72,916

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

Seller’s Loan History

Lender

Jpmorgan Chase Bank Na

Loan start date

February 2020

Original loan amount

$193,600

Est. remaining balance

$175,484

Interest rate

3.64%

Loan type

New Conventional, 30 year

Seller

Carl M Pesta and Lori Pesta

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: 11/23/2024 at 4:15 AM

Listing updated: 10/11/2024 at 10:27 AM

Listed by: Leslie Wagner, Signature Sotheby's International Realty GPF Phone #: (313) 888-8800

MLS: Realcomp #20240074865

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