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$2,400,000

Beds
5
Baths
3.0
sq ft
2,062

9110 Cherry Ave, Rapid City, MI 49676

9110 Cherry Ave

Milton Twp, MI 49676

  • 488 days on market
ELK LAKE - 5 bedroom, 3 bath vintage home in excellent condition with modern upgraded kitchen and baths. 200 ft. on the Sunset Side with views that are constantly changing like you are watching a travel log presentation. This 100-year-old cottage, which is rich in history, boasts a beautiful, large stone fireplace and exterior stone walls, where each stone was taken from Elk Lake and placed by hand. There is a great enclosed sun porch overlooking the sparkling clear blue waters of the lake. The master bedroom en suite has a private deck to enjoy a glass of wine while watching the magnificent Northern Michigan evening sky. Nearly 4 acres with no close neighbors - very private and peaceful setting! 30x60 pole barn included for car/boat storage and a future ‚Å“Man Cave‚ . Property features large mature hardwood trees for added privacy. 6 miles to Elk Rapids and less than 30 minutes to the Traverse City Cherry Capital Airport with numerous connections to every part of the Country. Chain-of-Lakes connection provides access to Torch Lake, Lake Skegemog, Clam Lake and Lake Bellaire plus many rivers and streams on the clearest & cleanest water in Michigan.

Details

Property type

Single Family Residence

Est. home value

$2,278,729

Lot size

3.86 acres

Price per sq ft

$1,164

Year built

1922

Annual property taxes

$13,160

Price History

07/05/2023
Realcomp

Realcomp #78080012848

Listed
$2,400,000

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

$2,087,003
Asking price
$2,400,000
Closing costs (~8% of asking)
-$192,000
Est. remaining loan balance
-$120,997
Cash to seller
$2,087,003

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

Seller’s Loan History

Lender

Fifth Third Mortgage Company

Loan start date

October 2012

Original loan amount

$168,000

Est. remaining balance

$120,997

Interest rate

3.62%

Loan type

Not Provided, 30 year

Seller

Michael J Shanesy and Betty Lee Shanesy

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: 11/05/2024 at 7:40 AM

Listing updated: 11/11/2023 at 2:34 AM

Listed by: Darci Springborn, Phone #: (231) 264-5000

MLS: Realcomp #78080012848

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