$297,044 EMV

2.5 Baths   3,124 Sq. Ft.   Single-Family
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Potomac St
Southfield, MI 48076


This Single-Family Bankruptcy is located at Potomac St, Southfield, MI 48076. It has 2.5 Baths , 3,124 sqft of living space. This property is Bankruptcy with an estimated market value of $297,044.
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Status: Active
Listing ID: 60882436
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Learn about Potomac St in Southfield, MI

This single-family property is available as a bankruptcy at Potomac St. It has bedrooms, 2.5 bathrooms, and 3,124 square feet of living space. Based on our analysis of the current market conditions in Southfield for Potomac St and comparable listings, the estimated market value is $297,044. If purchased for rental purposes, the monthly rental rate could range between $1,750 and $2,130. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at Potomac St are updated daily along with others in Southfield, Michigan.

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This property in Southfield, MI is located in the Mount Vernon Place 03 Subdivision.


The property located at Potomac St in Southfield, MI is listed as a Bankruptcy

This bankruptcy listing at Potomac St in Southfield, Michigan is among more than 1 million records featured in our comprehensive nationwide real estate database. However, unlike most property records, not all homes / addresses associated with a bankruptcy filing are for sale. This is an important legal concept to understand before moving forward on Potomac St Southfield, MI. We highly recommend that you first contact the court-appointed receiver / trustee listed below (scroll down) under "Bankruptcy Information" to learn whether or not the property is (or will soon be) for sale.

What is a bankruptcy estate?

A property owner who is experiencing difficult financial issues will sometimes file for bankruptcy as a last resort. This is a legal proceeding (usually called Chapter 7 bankruptcy), during which a court-appointed receiver / trustee will be assigned to determine all the assets of a distressed property owner. More often than not, a home or property is one of the most valuable assets that the court-appointed receiver / trustee will leverage to satisfy the distressed property owner’s outstanding debts. The contents of the home, as well as any other assets (e.g. cars, boats, etc.), are also often included in a bankruptcy estate. The court-appointed receiver / trustee is almost always motivated to sell a property included in a bankruptcy filing very fast -- there is no real attachment to it other than to obtain funds to pay off debts. And the savings for a savvy buyer and/or investor looking to buy bankruptcy houses for sale in Southfield, MI can be tremendous.

First Steps to Buying a Bankruptcy

In order to purchase a bankruptcy property, you will need to approach the court appointed receiver / trustee to pursue your deal.

Contact the bankruptcy trustee to find out if the property is for sale as part of the bankruptcy.  If so, request the terms for the sale of the property as well as any additional information regarding the condition of the property. This will help you understand the type of investment your are getting into.


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Rental Value

The estimated rental value for Potomac St located in Southfield, MI is $1,940/month. Comparable homes around Potomac St that are rentals have monthly ranges starting as low as $1,750 per month and as high as $2,130 per month. An owner looking to use this property as an investment could bring a return in the area of $1,750 - $2,130 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.

Similar Homes Nearby Southfield, MI

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Potomac St
Southfield, MI 48076

2.5 Baths   3,124 sq. ft.   Single-Family

$297,044 EMV

Status: Active Listing ID: 60882436

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