Sold
586 Terrace Lane E, Ypsilanti, MI 48198
Sold on 06/30/2025 for$175,000
MLS # 25027048 (Michigan Regional Information Center (MichRIC))
2 beds2 baths1,232 sqftBuilt 19680.02 acres
1 / 21
Listing Description
Tucked in a quiet community, this 2-bed, 1.5-bath condo with private patio is move-in ready. The main level features a light-filled eat-in kitchen with new stove and refrigerator, spacious living room, updated half bath, and entry closet. Upstairs offers two bedrooms with large closets and a full bath. The unfinished basement includes a bonus room—ideal for an office or gym—plus laundry, storage, and rec space. Fresh paint and new carpet throughout. Low HOA, walkable to Depot Town, close to Geddes, US-23, I-94, and right across from the bus line. On-site playground area and basketball hoop, large yard space for residents.
Source: SparkMLS
About this home
2-bedroom, 2-bath, 1,232 sq ft home in College Park Terrace in Ypsilanti built in 1968.
This home sold for $175,000 (about $142/sq ft).
Estimated annual property tax: $2,609, or about $217 monthly. 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 DTE Gas Company. Fiber internet is available at this address with download speeds up to 5,120 Mbps across 8 providers.
Listing Property Details
Property TypeResidential
Property SubtypeCondominium
Bedrooms2
Bathrooms2
Living Area1,232 sqft
Lot Size0.02 acres
Year Built1968
Stories2
Location
CityYpsilanti
MunicipalityYpsilanti Twp
Zip Code48198
CountyWashtenaw
School DistrictSchool District of Ypsilanti
Construction & Systems
StyleColonial
ConstructionBrick, Vinyl Siding
BasementFull
HeatingForced Air
WaterPublic
SewerPublic
UtilitiesNatural Gas Available, Cable Available
InteriorEat-in Kitchen
Sale & Financing
Listed6/6/2025
Sold Date6/29/2025
Terms AcceptedCash, Conventional
HOA
HOA Fee$230 / Monthly
IncludesWater, Trash, Snow Removal, Lawn/Yard Care
Source: SparkMLS
Tax Information
Annual Tax$2,609
Tax Year2024
Assessed Value$39,160
Parcel #K-11-03-260-054
Source: SparkMLS
Legal Description
YP# 151-54 BLDG. L - UNIT 54 COLLEGE PARK TERRACE CONDOMINIUM NO. 1.
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Shannon Baer
The Charles Reinhart Company
Frequently Asked Questions about 586 Terrace Lane E, Ypsilanti, MI 48198
Which school district serves 586 Terrace Lane E, Ypsilanti, MI 48198?
Per MLS# 25027048, 586 Terrace Lane E, Ypsilanti, MI 48198 is in the School District of Ypsilanti boundaries. School district assignments are determined by property location and may differ from the mailing city. Contact School District of Ypsilanti directly to confirm enrollment eligibility.
Can I use FHA or VA financing for this property?
Per MLS# 25027048, this listing accepts Cash, Conventional financing. Financing acceptance is subject to change — confirm with the listing agent.
What are the property taxes at 586 Terrace Lane E, Ypsilanti, MI 48198?
Per public tax records, annual property taxes for this property are $2,609 (2024). 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, 586 Terrace Lane E, Ypsilanti, MI 48198 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 586 Terrace Lane E, Ypsilanti, MI 48198 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 internet service is available at this address?
Per FCC Broadband Data Collection filings, fiber internet is available at 586 Terrace Lane E, Ypsilanti, MI 48198. The maximum advertised download speed is 5.1 Gbps. 8 internet providers serve this address. Confirm availability and speeds directly with providers.
What utilities serve 586 Terrace Lane E, Ypsilanti, MI 48198?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: DTE Gas 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. Washtenaw 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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Mortgage Calculator
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Monthly payment$1,365
Principal & interest$1,135
HOA$230
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Internet
FiberDownload
5.1 Gbps
Upload
5.1 Gbps
FiberCableGSO SatelliteSatelliteDSLLicensed Fixed Wireless
8 providers at this address
Metronet HoldingsFiber
5.1 GbpsXfinityCable
1.2 GbpsStarlinkGSO Satellite
280 MbpsHughesNetSatellite
100 MbpsViasat IncSatellite
100 MbpsAT&TDSL
75 MbpsAT&TLicensed Fixed Wireless
25 MbpsT-MobileLicensed Fixed Wireless
25 MbpsFCC Broadband Data Collection (Dec 2025). Max advertised speeds.
Utilities
DTE Electric Company
Investor-Owned
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
586 Terrace Lane E, Ypsilanti, MI 48198
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Neighborhood
College Park Terrace
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Community
Ypsilanti
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County
Washtenaw County
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