Houses that I'm looking at in Holt

MI, 48842

June 21th, 2006


House #1

1895 Walnut









This house is nice but it's next door to a factory. I think it's overpriced.

3 bedroom, 2 car garage, wood burning fireplace, no basement. Built in 1952, 1,166 SqFt

$124,900

SEV = $92,000

20% off asking price = $99,920

10% off asking price = $112,410


House #2

1874 Walnut









This house is nice but it's across the street from a factory.

2 bedroom, carport, small basement, central air. Built in 1938 1,136 SqFt

$109,900

SEV = $107,400

20% off asking price = $87,920

10% off asking price = $98,910


Loan Estimate from Mortgage company #1.

$90,000 purchase
Split loan (80/20 to avoid PMI mortgage insurance)
1st loan = $72,000
30-yr fixed @ 6.625% = $461.02/mo Princ. and int.
Taxes & Insurance = $100.00/mo (Estimate)
Total 1st payment = $561.02/mo
2nd loan = $18,000
20-yr fixed @ 8.49% = $156.09/mo Princ. and int.
Total of both payments and Taxes and Insurance = $717.11/mo

*Rule of thumb is per $5,000 in purchase price difference your payment will go up or down by $33.00/mo

So:
$80,000 = $651/month
$85,000 = $684/month
$90,000 = $717/month
$95,000 = $750/month
$100,000 = $783/month


As of June 16, 2006:
$95,000
1st loan = $76,000 @ 6.75% (30-yr fixed) = $492.93/mo Principal and INterest
2nd loan = $19,000 @ 8.99% (30-yr fixed) = $152.74/mo Principal and Interest
*Add for taxes and insurance

$645.67
$100.00
$745.67

$90,000
1st loan = $72,000 @ 6.75% (30-yr fixed) = $466.99/mo Principal and INterest
2nd loan = $18,000 @ 8.99% (30-yr fixed) = $144.70/mo Principal and Interest
*Add for taxes and insurance

$611.69
$100.00
$711.69


Here's the factory:




House #3




This house is right next door to my apartment. It's owned by a little old lady who only drove it on Sunday's. She's lived in it since it was built in 1959.

news: It looks like the little old lady is not ready to move anytime soon.

2270 Park Lane

SEV = $99,200

3 bedrooms, 1000 sq feet, full basement, nice yard.


House #4


This one is very nice inside. It's been re-modeled recently. New furnace. No basement but it has a 2 car garage. 3 bedrooms, but one is in the attic. It has a big yard.

2186 Coolridge

$109,900

20% off asking price = $87,920

10% off asking price = $98,910

SEV = $101,800

3 bedrooms, garage, 960 sq feet


Houses that I looked at but don't think I'll consider.


Park Lane Duplex


Very nice duplex. Side by side layout. Full basement. 2 car garage. Overpriced. If it comes down in price, it might be worth it. 1970's style kitchen and light fixtures. Needs some paint but not much else. Smells normal.

(Update - Apr 28, 2006) I talked to the tennant the other day, and he told me about all of the problems about this place. Now I don't think it is such a good deal. Leaky garage, clogged drains, old windows, cracked kitchen floor, carpenter ant issues, on and on.

2305 Park Lane

$183,900

2 units, $715 rent, 3 bedrooms, 1300 sq feet/unit



Very small, only one bedroom. It's in the attic. It smells real bad. It has a cellar with very low ceilings. But it has a very nice new 2 car garage. The backyard has big tire tracks gouged into it. Dirt driveway. This is the kind of place I can afford.

2076 Thorburn

$88,000

1 bedrooms, 600 sq feet



Cute little troll house. no garage or basement or attic. nice yard though.

2213 Coolridge

$103,900

20% off asking price = $83,120

10% off asking price = $93,510

2 bedrooms, 936 sq feet



Nice, but it smells like dog. nice yard and basement. I'm not too thrilled with the neighborhood.

2212 Meadowlawn

$119,900

3 bedrooms, basement, 1008 sq feet



SOLD for ~$174,900

2299 North Vernon

$174,900

2 units, $825 rent/unit

3 bedrooms, basement, 1152 sq feet/unit




I didn't like this one

2535 Kate

$135,000

2 units, $500/$565 rent

2 bedrooms, 1032 sq feet/unit



I didn't like this one either

1913 Hall

$159,900

2 units, $700/$600 rent

3 bedrooms, 1056 sq feet/unit



I think this one is too small

2168 Park Lane

$119,900

2 units, $535 rent/unit

2 bedrooms, 700 sq feet/unit


I live here


2260 Park Lane

not for sale

4 units, $660 rent/unit

3 bedrooms, 1152 sq feet/unit


The moon


not for sale

6 units, $660,500,000 rent/unit

1 bedrooms, 15 sq feet/unit

{I took this picture with my new Questar 3 1/2 inch telescope tonight. (April 3rd, 2006)
The telescope IS for sale!}




Atco Raceway, 1966 or 2006?



Page last updated: June 6th 2006
Page created by John French