Sold
40 SMITH, Lake Orion, MI 48362
Sold on 09/13/2024 for$200,000
MLS # 20240055573 (Realcomp)
2 beds1 bath926 sqftBuilt 19500.14 acres
1 / 12
Listing Description
Discover a fantastic investment opportunity with this inviting 2-bedroom, 1 bath home. Currently rented, it offers a reliable income stream from day one. Close to restaurants and shopping this home provide convenience and affordability. The finished room in the basement provides extra storage or could be used as a home office or cool hobby space. Perfect for investors looking to expand their portfolio or anyone seeking a cozy, well-maintained property. Don't miss out on this Lake Orion Charmer!(photos from before tenant moved in)
Source: SparkMLS
About this home
2-bedroom, 1-bath, 926 sq ft home in Lake Orion Village in Lake Orion built in 1950.
This home sold for $200,000 (about $216/sq ft).
Property tax estimate: $2,791 per year ($233/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 SubtypeSingle Family Residence
Bedrooms2
Bathrooms1
Living Area926 sqft
Lot Size0.14 acres
Year Built1950
Stories1
Location
CityLake Orion
MunicipalityLake Orion Vlg
Zip Code48362
CountyOakland
School DistrictLake Orion
Construction & Systems
ConstructionAluminum Siding
BasementPartial
HeatingForced Air
WaterPublic
SewerPublic
InteriorBasement Partially Finished
Sale & Financing
Listed7/29/2024
Sold Date9/12/2024
Terms AcceptedCash, Conventional
Source: SparkMLS
Tax Information
Annual Tax$2,791
State Equalized Value$79,240
Taxable Value$79,240
Parcel #0911276017
Source: Public Records
Legal Description
T4N, R10E, SEC 11 ASSESSOR'S REPLAT OF DECKERS ADD PART OF LOT 44 BEG AT PT DIST S 03-18-00 W 141.52 FT & N 86-54-00 W 196.59 FT, FROM NE LOT COR, TH N 86-54-00 W 46.59 FT, TH N 07-00-00 E 141.90 FT, TH S 86-53-10 E 42 FT, TH S 03-18-00 W 141.65 FT TO BEG
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Victoria C Safran
RE/MAX Eclipse
Frequently Asked Questions about 40 SMITH, Lake Orion, MI 48362
Which school district serves 40 SMITH, Lake Orion, MI 48362?
Per MLS# 20240055573, 40 SMITH, Lake Orion, MI 48362 is in the Lake Orion boundaries. School district assignments are determined by property location and may differ from the mailing city. Contact Lake Orion directly to confirm enrollment eligibility.
Can I use FHA or VA financing for this property?
Per MLS# 20240055573, this listing accepts Cash, Conventional financing. Financing acceptance is subject to change — confirm with the listing agent.
What are the property taxes at 40 SMITH, Lake Orion, MI 48362?
Per public tax records, annual property taxes for this property are $2,791. 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, 40 SMITH, Lake Orion, MI 48362 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 40 SMITH, Lake Orion, MI 48362 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 40 SMITH, Lake Orion, MI 48362?
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$1,362
Principal & interest$1,362
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
40 SMITH, Lake Orion, MI 48362
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Municipality
Lake Orion Village
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County
Oakland County
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