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$575,000

Beds
4
Baths
2.0
sq ft
1,924

722 River Rd, Otsego, MI 49078

722 River Rd

OtsegoTownship_Allegan, MI 49078

  • 4 days on market
Opportunity awaits in Otsego! Newly renovated inside and out farmhouse style home, offering 4 bedrooms, 2 bathrooms, an open kitchen and a nice living space with foundation for a home addition. Seller is in process of completing a 32x48 garage/out building with an estimated completion date in May. Another complement to this property is a 2-bedroom, 1 full bath, full kitchen with laundry, flat that has so many possibilities. Currently an Air B n B. Abundance of additional storage and workspace in the basement and another outbuilding. This is sitting on a total of 18.5 acres (splits available). Seller is currently offering just under 11 acres (list price reflects this) see attached parcel map with currently reserved back 3 lots (negotiable). There are a total of 6 campsites on the propertywith 20/30 amp hook up and available Starlink. If you like to entertain, this is your place. Bittersweet ski resort access is convenient and your not-so-distant back yard view.

Details

Property type

Single Family Residence

Lot size

10.78 acres

Price per sq ft

$299

Year built

1890

Annual property taxes

$3,341

Price History

03/27/2025
Realcomp

Realcomp #66025011882

Listed
$575,000
+342.31%
04/11/2014
Realcomp

Realcomp #66013065803

Sold
$130,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

High school district: 

Otsego

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

$428,500
Asking price
$575,000
Closing costs (~8% of asking)
-$46,000
Est. remaining loan balance
-$100,500
Cash to seller
$428,500

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

Seller’s Loan History

Lender

Amerifirst Financial Corp

Loan start date

April 2014

Original loan amount

$130,000

Est. remaining balance

$100,500

Interest rate

4.33%

Loan type

VA, 30 year

Seller

Mark D Anderson

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: 04/01/2025 at 9:00 AM

Listing updated: 03/27/2025 at 1:30 PM

Listed by: Charity B Sodano, Berkshire Hathaway HomeServices MI Phone #: (269) 344-8599

MLS: Realcomp #66025011882

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