  Newbie Member Username: Newbie Post Number: 14 Registered: 05-2005 Posted From: 65.24.198.179 |
Found this beautiful old house on Ebay! Isnt she a beauty. Take a look at part of detroit's history. http://www.450keelsondetroit.c om/pages/1/index.htm Is access to Grayhaven restricted? How built out is the development? | ||
Fury13 Member Username: Fury13 Post Number: 777 Registered: 10-2003 Posted From: 69.14.122.204 |
It's been on the market for some time. Beautiful house, and a nice spot on the water. | ||
Llyn Member Username: Llyn Post Number: 1277 Registered: 06-2004 Posted From: 68.61.197.206 |
Beautiful house. If I just had three quarter million... | ||
Brandon48202 Member Username: Brandon48202 Post Number: 33 Registered: 12-2004 Posted From: 68.248.15.192 |
Grayhaven Island was built out with the new homes several years ago, and yes, access to the Island is restricted. | ||
Patrick Member Username: Patrick Post Number: 3123 Registered: 10-2003 Posted From: 68.250.96.218 |
That home has been on the market for years. It is a bit overpriced, at least that is what I think. Or, it was... | ||
Fnemecek Member Username: Fnemecek Post Number: 1344 Registered: 12-2004 Posted From: 69.212.34.113 |
$749,000 for 5,000 sq. ft., on the water with a private boat well and in a gated community is not overpriced. If anything it's cheap. BTW - I crunched some numbers. Mortgage, property taxes and insurance for the place should run about $6,800 per month. Outside of my price range for the moment, but still quite reasonably priced. Here's hoping the housing market in southeastern Michigan stays as crappy as it is for another year or two. I'd love to have a chance at that one. | ||
Sknutson Member Username: Sknutson Post Number: 398 Registered: 03-2004 Posted From: 64.139.1.36 |
That's less than my 1,100 sq ft house in San Fran sold for in 1999. | ||
Fnemecek Member Username: Fnemecek Post Number: 1346 Registered: 12-2004 Posted From: 69.219.103.157 |
Amen, Sknutson. Real estate in Detroit is (pardon the pun) dirt cheap. One more reason why I stick around this town. That and the fact that Britney Spears rarely shows up here. | ||
Kova Member Username: Kova Post Number: 163 Registered: 12-2003 Posted From: 141.211.222.209 |
$6,800 per month OUCH Yeah, i want the market to stay bad for a while too, want to fulfill my dream to become a slumlord ( a good one tho hehe ) | ||
Psip Member Username: Psip Post Number: 629 Registered: 04-2005 Posted From: 69.246.13.131 |
$6,800 per month x 360 months (30 years) $2,448,000.00 great deal! | ||
Fnemecek Member Username: Fnemecek Post Number: 1350 Registered: 12-2004 Posted From: 69.219.103.157 |
Psip: You always end up paying 2 or 3 times a home's value when you're financing it. 6% in interest causes the cost of the home to double every 12 years, one reason why paying off early saves lost of cash. Of course, you also have to offset all of those costs with a tax deduction for mortgage interest and the fact that your home will presumably go up in value. All in all, $749,000 is a great price for what you're getting with this home - assuming, of course, that you can afford it in the first place. BTW - while crunching numbers some more - I figured out that my annual income would have to be at least $244,800 in order afford the house. (Mortgage, property taxes and insurance generally shouldn't be more than 1/3 of your monthly income). | ||
Psip Member Username: Psip Post Number: 630 Registered: 04-2005 Posted From: 69.246.13.131 |
Oh, I know about the extracost with mortgages. What would it cost to heat the building? I bet the insulation is pretty slim. Its nice, but way to rich for me. From the pix, I would say that kitchen "needs a little work" Just noticed they are leasing it for less then $3,000 per month. If they throw in the utilitys, maybe  (Message edited by Psip on December 12, 2005) | ||
Fnemecek Member Username: Fnemecek Post Number: 1352 Registered: 12-2004 Posted From: 69.219.103.157 |
I know some folks in Indian Village who pay about $600 a month for their utilities. (I think that was the number they mentioned). They have around 5,000 sq. ft. so I'd imagine that the costs would be fairly close. Of course, if anyone knows these numbers better than I, please feel free to post your insights. | ||
Aiw Member Username: Aiw Post Number: 5116 Registered: 10-2003 Posted From: 209.216.150.127 |
Must be nice. No tax deduction in Canada. | ||
Dabirch Member Username: Dabirch Post Number: 1228 Registered: 06-2004 Posted From: 208.44.117.10 |
Not this winter. It'll be closer to $900. | ||
Goat Member Username: Goat Post Number: 7872 Registered: 10-2003 Posted From: 67.70.117.241 |
I echo AIW's sentaments. Damn! That must feel good. In this country, you fix your house and you end up paying more in taxes. A no-win situation. | ||
Xd_brklyn Member Username: Xd_brklyn Post Number: 83 Registered: 10-2003 Posted From: 66.88.89.94 |
To put things in perspective, a one-bedroom on 72nd Street in Manhattan rents for $2,700/month. (Message edited by xD_brklyn on December 12, 2005) | ||
Fnemecek Member Username: Fnemecek Post Number: 1358 Registered: 12-2004 Posted From: 70.227.84.136 |
Goat and AIW: One more reason to live on the Detroit side of the river. | ||
Imperfectly Member Username: Imperfectly Post Number: 81 Registered: 06-2004 Posted From: 69.14.162.54 |
holy crap thats beautiful. | ||
Kraemerdesigngroup Member Username: Kraemerdesigngroup Post Number: 11 Registered: 10-2005 Posted From: 63.242.134.66 |
Anyone have pictures of the new houses on the island? | ||
Kraemerdesigngroup Member Username: Kraemerdesigngroup Post Number: 12 Registered: 10-2005 Posted From: 63.242.134.66 |
Check out this article - great photos http://info.detnews.com/histor y/story/index.cfm?id=128&categ ory=locations | ||
Gistok Member Username: Gistok Post Number: 1615 Registered: 08-2004 Posted From: 4.229.81.39 |
My cousin in Germany pays $300 per year for a 4,000 sq. ft. house in property taxes. Of course, they make up for it by soaking you in payroll taxes, as well as silly little taxes, such as for each Radio/TV you own. |
