Owner
$687,868
53527 CHERRYWOOD DR, SHELBY TOWNSHIP, MI
Quick Facts
owner occupied
Yes
vacant
No
corporate owner
No
beds
4
baths
3
sq. ft.
3,485
property type
Single Family Residential
hoa
Yes
About
Residential
Building Quality B-
Living Area
Attached Garage
Unspecified Basement
Forced Air Unit
Brick
None
Financial Overview
Home Equity
Property
Outstanding Debt
Property
Loan-to-Value Ratio
Property
Property Features
Year Built
1995
Building Size
3,485 sq ft
Lot Size
11,805 sq ft
Lot Size (Acres)
0.27 acres
Distressed Property Status
In Pre-foreclosure
Property
Notice of Sale Filed
Property
Notice of Default Filed
Property
Scheduled for Auction
Property
Filing Date
Property
Property Location Details
Parcel Number (APN)
23-07-11-427-017
County
Macomb County, Michigan
Metro Area
Detroit-Warren-Dearborn, MI
Zoning
CK MAP
Neighborhood/Subdivision
V LAKE POINTE WOODS SUB
Lot Number
99
School District
Utica Community Schools
Legal Description
L 99 V LAKE POINTE WOODS SUB LOT 99 LIBER 103 PAGES 21-29
Tax & Value Information
Market Value (Total)
$640,200
Building Value
$0
Land Value
$640,200
Annual Property Tax
$6,795
Tax Assessment Year
2024
Assessed Value
$320,100
Last Assessment Year
2024
Original Primary Mortgage
Property
Primary Mortgage Type
Property
Original Secondary Mortgage
Property
Secondary Mortgage Type
Property
Current Mortgage Amount
Property
Current Mortgage Type
Property
Interest Rate
Property
Loan Term
Property
Lender Name
—
Last Sale Contract Date
2/9/1996
Recording Date
3/29/1996
Sales Document #
—
Primary Owner
Property
Co-Owner
Property
Previous Owner
Property
Previous Co-Owner
Property
Recent sales Comparables
Estimated Value:
$0
Average Price per Sq.Ft.: $0.00
Sales Comparables
Real Estate Investment Analysis
Evaluate this property as a fix & flip opportunity
Estimated Profit
$26,617
Return on Investment
15.60%
After Repair Value
$756,655
Basic Inputs
Financing
Down Payment
20%
Interest Rate
6.5%
Loan Term (Years)
30
Holding Period (months)
6
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Analysis Details
Purchase Price
$619,081
Renovation Cost
$34,393
Closing Costs (buying)
$12,382
Holding Costs
$18,782
Selling Costs
$45,399
Total Investment
$170,591
After Repair Value (ARV)
$756,655
Total Costs
$730,038
Estimated Profit
$26,617
Cash Invested
$158,210
Return on Investment
15.60%
Return on Cash Invested
16.82%
Nearby Schools
No Elementary School nearby
No Middle School nearby
No High School nearby
Properties owned by investors
Income Distributions
Ethnicity Distributions
Chart
Yearly Purchases
Connex Segmentation Clusters
Area Profile for Investors
Quiet Residential
Walkability
Poor
(0 POIs within 1mi)
Amenities Within 0.5mi
0
locations
Schools Within 1mi
0
schools
Area Class
A
class
Investor Insight
This is a quiet residential area with 0 amenities within 1 mile.
The area has limited nearby amenities.
Key features for tenant appeal:
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Key Amenities in the Area