25142 Franklin Terrace #8

About this home

Enjoy a maintenance free lifestyle in this nice end unit condo located in 55+ Colonial Acres. This unit features an updated kitchen with a new tile backsplash and an updated bathroom. Recent updates include central A/C and all new stainless kitchen appliances. Relax in the beautiful Florida room. The monthly HOA fee includes gas, water/sewer, exterior maintenance, and snow removal. Enjoy the clubhouse and community pool. Walking distance to Downtown South Lyon - enjoy shopping, dining, festivals, car shows and the farmer's market. Schedule your private showing today! See attachments for all co-op documents. Cash only.

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 $74,500, or $104 per square foot, 40% below the city median, and has been on the market 28 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 $1,050 a year. A buyer who lives here would pay about $1,586 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 and HOA when listed. Ask us for a lender quote.

Location

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