$161,699 EMV

3 Beds   2 Baths   1,032 Sq. Ft.   Single-Family
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Lake Rd
Mentor On The Lake, OH 44060

Overview

This Single-Family Preforeclosure is located at Lake Rd, Mentor On The Lake, OH 44060. It has 3 Beds, 2 Baths , 1,032 sqft of living space. This property is currently in pre-foreclosure with an estimated market value of $161,699.
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Status: Active
Listing ID: 59882061
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Learn about Lake Rd in Mentor On The Lake, OH

This single-family property is available as a preforeclosure at Lake Rd. It has 3 bedrooms, 2 bathrooms, and 1,032 square feet of living space. Based on our analysis of the current market conditions in Mentor On The Lake for Lake Rd and comparable listings, the estimated market value is $161,699. If purchased for rental purposes, the monthly rental rate could range between $1,092 and $1,301. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at Lake Rd are updated daily along with others in Mentor On The Lake, Ohio. Since this property is a preforeclosure, check out our Foreclosure Timeline for Lake Rd below to see helpful information about this listing.


Foreclosure Timeline

Lake Rd in Mentor On The Lake Ohio Property History

Not in Foreclosure

Pre-Foreclosure

Auction

Bank Owned

Find out more about this property on Lake Rd
View Foreclosure Status
02/28/23
Lis Pendens issued
The owner of this property was served a notice of lis pendens for missed mortgage payments.
Rental Chart
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for Lake Rd in Mentor On The Lake Ohio
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Property Information

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Preforeclosure

The property located at Lake Rd in Mentor On The Lake, OH is listed as a Preforeclosure

The process of preforelcosure with properties like Lake Rd in Mentor On The Lake, Ohio begin when a lender first notifies a borrower that his or her loan payments are behind. If a borrower has no other means to bring the payments up to date, he or she is far better served to sell the property as soon as possible before it falls into foreclosure.

First Steps to Buying a Preforeclosure

Preforeclosure status means the owner of the property has defaulted on his mortgage obligation and the lender is taking steps to foreclose on the loan and take possession of the property. This situation places the property owner and the lender in a disadvantaged position. But it may not be too late for the property owner to work things out with his lender.  At the same time the lender may be interested in allowing a short sale (sale of the property for less than the amount owed) just to avoid the costly process of foreclosure on the loan, and then the expense of marketing the property. That leaves open the opportunity for a real estate investor to come in and solve the problem for both parties.

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Rental Value

The estimated rental value for Lake Rd located in Mentor On The Lake, OH is $1,181/month. Comparable homes around Lake Rd that are rentals have monthly ranges starting as low as $1,092 per month and as high as $1,301 per month. An owner looking to use this property as an investment could bring a return in the area of $1,092 - $1,301 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
02/28/23   Preforeclosure Lakeview Loan Servicing LLC

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Lake Rd
Mentor On The Lake, OH 44060

3 Beds   2 Baths   1,032 sq. ft.   Single-Family

$161,699 EMV

Status: Active Listing ID: 59882061

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=Lake-Rd-Mentor-On-The-Lake-OH-44060/59882061_lid

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