Sold
25229 Franklin Terrace 5, South Lyon, MI 48178
Sold on 05/20/2026 for$77,500
MLS # 26010732 (Michigan Regional Information Center (MichRIC))
2 beds2 baths1,360 sqftBuilt 19720.02 acres
1 / 27
Listing Description
Welcome to easy living in this 55+ co-op community! This well-maintained 2-bedroom, 2-bath home features granite countertops, fresh paint, and newer carpet. Enjoy comfortable one-level living plus a full basement with private laundry and additional storage or workspace. Community amenities include a clubhouse, pool, and beautifully maintained grounds--perfect for a relaxed, low-maintenance lifestyle.
Source: SparkMLS
About this home
2-bedroom, 2-bath, 1,360 sq ft home in All South Lyon Listings in South Lyon built in 1972.
Closed at $77,500 (about $57/sq ft).
Property tax estimate: $2,028 per year ($169/month). Tax figure is from the MLS listing record; verify with the county treasurer for the most current amount.
Electric service is provided by DTE Electric Company; natural gas by Consumers Energy Company.
Listing Property Details
Property TypeResidential
Property SubtypeCondominium
Bedrooms2
Bathrooms2
Living Area1,360 sqft
Lot Size0.02 acres
Year Built1972
Stories1
Location
CitySouth Lyon
MunicipalitySouth Lyon City
Zip Code48178
CountyOakland
School DistrictSouth Lyon
Construction & Systems
StyleRanch
ConstructionAluminum Siding, Brick
BasementFull
HeatingBaseboard
WaterPublic
SewerPublic
Sale & Financing
Listed3/18/2026
Sold Date5/19/2026
Original Price$89,900
Terms AcceptedCash
HOA
HOA Fee$570 / Monthly
IncludesElectricity, Water, Trash, Snow Removal, Sewer, Lawn/Yard Care, Heat
Source: SparkMLS
Tax Information
Annual Tax$2,028
Tax Year2025
Assessed Value$45,000
Parcel #co op
Source: SparkMLS
Legal Description
co op
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Roy Hibbs
Remerica Hometown One
Frequently Asked Questions about 25229 Franklin Terrace 5, South Lyon, MI 48178
Which school district serves 25229 Franklin Terrace 5, South Lyon, MI 48178?
Per MLS# 26010732, 25229 Franklin Terrace 5, South Lyon, MI 48178 is in the South Lyon boundaries. School district assignments are determined by property location and may differ from the mailing city. Contact South Lyon directly to confirm enrollment eligibility.
Can I use FHA or VA financing for this property?
Per MLS# 26010732, this listing accepts Cash financing. Financing acceptance is subject to change — confirm with the listing agent.
What are the property taxes at 25229 Franklin Terrace 5, South Lyon, MI 48178?
Per public tax records, annual property taxes for this property are $2,028 (2025). Michigan property taxes are based on a property's taxable value multiplied by the local millage rate. Primary residences qualify for a homestead exemption that lowers the rate.
Can I use a USDA Rural Development loan for this property?
Per USDA Rural Development boundary data, 25229 Franklin Terrace 5, South Lyon, MI 48178 is not in an eligible area. USDA eligibility is based on property location — properties within designated urban zones are excluded. Other low-down-payment options (FHA, VA) may still be available.
Is 25229 Franklin Terrace 5, South Lyon, MI 48178 in a flood zone?
Per FEMA flood maps, this property is designated as Zone X, a minimal-risk flood area. Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
What utilities serve 25229 Franklin Terrace 5, South Lyon, MI 48178?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: Consumers Energy Company. Sewer: Public. Water: Public. Confirm service details directly with providers.
What is the crime rate in this area?
For crime and public safety data, we recommend inquiring directly with the source. Oakland County is served by CLEMIS (Courts and Law Enforcement Management Information System), which provides public safety data for Southeast Michigan law enforcement agencies.
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Monthly payment$1,121
Principal & interest$551
HOA$570
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Utilities
DTE Electric Company
Investor-Owned
Consumers Energy Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
25229 Franklin Terrace 5, South Lyon, MI 48178
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Municipality
All South Lyon Listings
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County
Washtenaw County
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