25245 Franklin Terrace #3

About this home

Completely turnkey, beautifully remodeled co-op in a desirable 55+ community—just move in and enjoy! Freshly painted throughout with new flooring in the main living areas and new carpet in the bedrooms. The main-level full bathroom has been completely remodeled with a new vanity, tile flooring, and toilet. New light fixtures and ceiling fans have been installed throughout the home. The updated kitchen features granite countertops, newer appliances, and a brand-new microwave (to be installed this week). The finished basement offers additional living space with a recently remodeled half bath, a large recreation area perfect for entertaining, and plenty of storage. Additional updates include newer windows. Enjoy low-maintenance living with community amenities including a clubhouse and pool, while the HOA fee includes water. Conveniently located close to downtown South Lyon, where you'll find charming shops, restaurants, parks, and year-round community events.

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 $109,000, or $64 per square foot, 63% below the city median, and has been on the market 124 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

A buyer who lives here would pay about $2,320 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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