201 W Liberty Street

About this home

Downtown South Lyon rehab opportunity with plenty of potential for a buyer ready to bring their vision to life. Built in 1925, this 1,776 sq ft Colonial offers 3 bedrooms, hardwood floors, a spacious 15x28 living room, a generous dining room, and a sunroom that adds valuable flexibility. The layout provides an opportunity to reimagine the living spaces, modernize the kitchen and baths, and create a home tailored to your needs. Outside, the fenced 66x144 lot features mature trees, a covered porch, a wooden deck, and a rare 4-car detached garage. Enjoy a walkable location near the shops, restaurants, and events along Lafayette and Lake Street. Sold as-is. Cash, conventional, and renovation financing, including 203k or HomeStyle, are welcome. Bring your contractor and explore the possibilities.

Interior

Systems and utilities

Exterior and lot

Taxes, HOA and more

Schools

How it compares in South Lyon

Over the last 90 days, 144 homes sold in South Lyon for a median of $430,000, about $173 per square foot, and the typical one went under contract in 20 days. This home is listed at $275,000, or $155 per square foot, 10% below the city median, and has been on the market 43 days. Size, condition, updates and the exact street all move the number, so treat this as context. See recent South Lyon sales or ask us for the comparable sales on this one.

Property taxes for a new owner

The current owner pays about $3,499 a year. A buyer who lives here would pay about $3,520 to $5,853 a year once the taxable value resets after the sale, at the 2025 homestead rate of 42.15 mills for South Lyon City and South Lyon schools, plus the 1% administration fee. Michigan resets a home's taxable value the year after it sells, so the seller's bill isn't a good number to budget with. See the math.

Monthly payment estimate

Estimate only, 30 year fixed, includes taxes at a new owner's rate when listed. Ask us for a lender quote.

Location

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