$62,000

2 Beds   1 Bath   1,496 Sq. Ft.
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Fairlane Dr
Grass Lake, MI 49240

Potential Profit

$22,800

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Status: Inactive
Listing ID: 58077524

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Property Information

  • Price: $62,000
  • Bedrooms: 2
  • Bathrooms: 1
  • Living Area Size: 1,496
  • Total Rooms: 5
  • Parking: Carport (2 spaces)
  • Year Built: 1980
  • Source ID: 263-368813
  • Additional Information: Eligible Bidders: All Bidders, 203K Eligible: Yes
  • Day(s) On Site: 111
  • Subdivision: MORTON MANOR MOBILE HOME
  • Input Date: 08-18-2022
  • Financing Type: FHA Uninsured

Potential Home Value

This property has untapped potential!

Current Value
$62,000
Potential Value
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Public Records

  • Land Area Sqft: 11,761
  • APN: 000-09-11-103-014-00
  • Property Type: Single Family Residence
  • Township: LEONI TOWNSHIP
  • Subdivision: MORTON MANOR MOBILE HOME
  •  

HUD Home

Purchase this incredible HUD home with a low down payment! U.S. Department of Housing and Urban Development (HUD) is a federal agency that insures mortgages to homeowners through its Federal Housing Administration (FHA). Therefore, when banks foreclose on HUD-guaranteed mortgages, the government agency acquires the properties and often offers them for sale at super low prices to the public. HUD houses are among the very best deals in real estate today and, accordingly, don't last long on the market. Act fast!

First Steps to Buying a Foreclosure

Foreclosures often mean the original homeowner had some sort of setback that caused him to allow his lender to take the property. Rarely does a lender want to retain possession of real estate, so it will be motivated to move it off the books as quickly as possible. A fast turnover is what the lender is looking for, so a big part of the marketing plan might include pricing for a quick sale. In order to take advantage of foreclosed properties there are some basic steps to be followed:

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Rental Value

The estimated rental value for Fairlane Dr located in Grass Lake, MI is $850/month. Comparable homes around Fairlane Dr that are rentals have monthly ranges starting as low as $720 per month and as high as $980 per month. An owner looking to use this property as an investment could bring a return in the area of $720 - $980 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.

Listing History

Start Date End Date Listing Type Bank Name
04/01/22 05/14/22 Foreclosure

Grass Lake, MI
Home Inspectors
Don Randazzo Inspection Services, LLC
Don Randazzo
734 646 3764
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Homes On This Street
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Fairlane Dr
Grass Lake, MI 49240

2 Beds   1 Bath   1,496 sq. ft.

$62,000

Status: Inactive Listing ID: 58077524

Property Information

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Public Records

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Property Description

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Listing URL

https://static.foreclosure.com/listing/address.html?address=Fairlane-Dr-Grass-Lake-MI-49240/58077524_lid

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