This Land Foreclosure is located at Newport Rd, Ann Arbor, MI 48103. This property is currently bank owned with an estimated market value of $359,676.
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This land property is available as a foreclosure at Newport Rd. Based on our analysis of the current market conditions in Ann Arbor for Newport Rd and comparable listings, the estimated market value is $359,676. If purchased for rental purposes, the monthly rental rate could range between $1,650 and $2,230. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at Newport Rd are updated daily along with others in Ann Arbor, Michigan. Since this property is a foreclosure, check out our Foreclosure Timeline for Newport Rd below to see helpful information about this listing.
Plus with taxes and insurance
Based on 20% down, 30 year mortgage, with 5% APR
All calculations are estimates provided for informational purposes. Actual amounts may vary by location. It is important to know that mortgage rates are dependant on credit scores, loan timeline, and a down payment amount.
Not in Foreclosure
The property located at Newport Rd in Ann Arbor, MI is listed as a ForeclosureProperties like Newport Rd in Ann Arbor, Michigan listed as foreclosures have passed the point of auction or public sale. Because the properties were not sold at auction, the lender is now the owner and is engaged in the process of marketing and selling them to potential buyers through a local real estate agent or auction house in Ann Arbor, MI. The longer lenders own properties like this on Newport Rd, the more eager they become to sell, often at reduced prices.
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:
Steps as you search for your foreclosure property:
Foreclosed properties can represent excellent opportunities to acquire real estate at bargain prices. But in order to take full advantage of these opportunities you must have all your information and take an organized approach to finding and acquiring foreclosed properties. Find the location and property that interests you, work with the Realtor and closing agent to learn all you can about the property, and make your offer based upon good information and research.
The estimated rental value for Newport Rd located in Ann Arbor, MI is $1,940/month. Comparable homes around Newport Rd that are rentals have monthly ranges starting as low as $1,650 per month and as high as $2,230 per month. An owner looking to use this property as an investment could bring a return in the area of $1,650 - $2,230 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.
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