tomo logo

$469,900

Beds
3
Baths
1.0
sq ft
1,530

7434 Terrace Ave, Elk Rapids, MI 49629

7434 Terrace Ave

Elk Rapids Twp, MI 49629

  • 283 days on market
    • Price drop $5,000↓
METICULOUSLY MAINTAINED HOME WITH GENEROUSLY SIZED YARD and only 110' from ELK LAKE Public Access at what is arguably the prettiest end of the lake with nearby coves, sandbars and launches. Spend your days on the 641 sq ft deck with new railing, (suitable for a hot tub), while enjoying views of Elk Lake and lovely, low maintenance landscaping. Nights are beautiful on the deck too with excellent moon and sky viewing. Deck previously held a hot tub and has necessary wiring still available. Plenty of room for fun and frolicking in the large backyard. Concrete Pad for boat or RV parking. 26' Trailer currently on concrete pad has served as Seller's "garage" and is available for purchase with sale if desired. Pelican water whole house filtration system - only 5 years old. Two paved driveways, one off Cairn Hwy and one off of Terrace Ave. Less than 5 minutes from Maplehurst Land Conservancy Park and a great area for biking enthusiasts. Only 5 minutes to downtown Elk Rapids, 30 minutes to Traverse City. Homeowner has updated and freshened up every bit of the home with meticulous attention to details. Upstairs secondary area offers a lovely work from home office space (flex space). An all around terrific home for any scenario! Come see for yourself!

Details

Property type

Single Family Residence

Est. home value

$497,547

Lot size

0.32 acres

Price per sq ft

$308

Year built

1920

Annual property taxes

$2,743.62

Price History

07/12/2024
Realcomp

Realcomp #78080011952

Price change
$469,900
-1.05%
06/26/2024
Realcomp

Realcomp #78080011952

Price change
$474,900
-4.04%
10/07/2023
Realcomp

Realcomp #78080011952

Listed
$494,900
+256.3%

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

Elk Rapids

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

$399,036
Asking price
$469,900
Closing costs (~8% of asking)
-$37,592
Est. remaining loan balance
-$33,272
Cash to seller
$399,036

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

Seller’s Loan History

Lender

Alden State Bank

Loan start date

December 2012

Original loan amount

$104,060

Est. remaining balance

$33,272

Interest rate

2.66%

Loan type

Not Provided, 16 year

Seller

Robert K Schneider and Maria Lynne Pellerito Schneider

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?

Similar Homes Nearby

Realcomp
$424,900
3 bd
|
2 ba
|
1,512 sq ft
|
House

11888 Hickin Rd NW, Rapid City, MI 49676

Price drop
Realcomp
$420,900
3 bd
|
2.5 ba
|
1,464 sq ft
|
House

11366 Orchard Dr, Rapid City, MI 49676

Realcomp
$474,900
3 bd
|
2 ba
|
1,722 sq ft
|
House

2301 Schuss Mountain Dr, Bellaire, MI 49615

Status: Active

Tomo last checked: 07/16/2024 at 10:25 PM

Listing updated: 07/15/2024 at 6:53 AM

Listed by: Kim Costanza, Phone #: (231) 778-1200

MLS: Realcomp #78080011952

Realcomp logo

Recently listed in Elk Rapids Twp

$2,675,000|4 bd|3.5 ba|House
$1,085,000|4 bd|4.0 ba|House
$385,000|2 bd|2.0 ba|Condo
$309,900|3 bd|1.5 ba|Manufactured
$249,900|3 bd|1.5 ba|House
$315,000|4 bd|2.0 ba|House
$625,000|4 bd|2.5 ba|House