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South Lyon 48178
348 Princeton Drive
$335,000
● House - Off Market

348 Princeton Drive

South Lyon, MI 48178
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
1,552 Ft²
$1,957
Est. Monthly
$17
HOA / Fees
7.90%
Cap Rate

About This Property

Don't miss out on this captivating bi-level house, just moments away from the vibrant heart of downtown South Lyon. Step into your main living area with a recently renovated kitchen with gleaming granite countertops and stainless steel appliances. The residence boasts three generously sized bedrooms and 1.5 bathrooms, where meticulous design and tasteful finishes, provide space to retreat in comfort and tranquility. Beyond the main living interior, the property boasts a two-car garage and a charming three-seasons room, the perfect home. Nestled in a quiet yet welcoming neighborhood! Schedule your showing today!
Unit Size
1,552 Ft²
Days on Market
-
Land Size
0.17 acres
Price per sqft
$209
Property Type
House
Property Taxes
$344
HOA Dues
$17
Year Built
1993

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 3 years ago (MichRIC MLS #24005055)

Price History

Date / Event Date Event Price
Mar 6, 2024 Sold
Premium
Sold
Jan 29, 2024 Listed by Cornerstone Real Estate $324,900
Listed by Cornerstone Real Estate
Sep 11, 2020 Sold
Premium
Sold
Aug 11, 2006 Sold
Premium
Sold

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1993
  • Effective Year Built: 1993
  • Total Rooms: 7
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Bathroom Plumbing Fixtures: 5
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 29
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 7
  • Roof Cover Type: 15
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 586
  • Garage Type: 7
  • Garage Square Area: 399
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 7
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,534
  • Total Building Area: 1,552
  • Building Area: 1,552
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,552
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 1
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: OAKLAND COUNTY CONDOMINIUM
  • Land Acres: 0000000150
  • Standard Land Use Code: 1004
  • County Land Use Code: 407
  • Legal Description 1: T1N, R7E, SEC 30 OAKLAND COUNTY CONDOMINIUM PLAN NO 812 OXFORD MEADOWS UNIT 10 L 13345 P 458 3-4-93 FR 404-004

Neighborhood

  • School District Name: South Lyon Community Schools
  • School Tax School District: 63240
  • Census Tract: 139202

Zoning

  • Zoning: KI

Geography

  • District: 80
  • Parcel: 80-21-30-405-030
  • Meridian: SEC 03 TWN 01N RNG 07E
  • Municipality: SOUTH LYON CITY
  • Latitude: 42.4489
  • Longitude: -83.6555

    Address

  • Full Address: 348 Princeton Dr
  • Legal Unit: 10
  • Address - House Number: 348
  • Address - Street Name: Princeton
  • Address - Suffix Type: Dr
  • State: MI
  • City Name: South Lyon
  • Carrier Code: C004
  • 4-Digit Zip Code: 2519
  • Zip Code: 48178

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $413,321

    Appraisal Valuation

  • Standard Deviation: 0.091
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 92
  • Final Value: 321,176
  • High Value: 350,415
  • Low Value: 291,937

    Market Valuation

  • Market Total Value: $250,440

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $125,220

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Mar 01, 2024
  • Current Sale Recording Date: Mar 06, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 22703
  • Previous Sale Recording Date: Sep 11, 2020
  • Previous Sale Contract Date: Sep 09, 2020
  • Previous Sale Amount: $240,000
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About South Lyon

Stats & Trends

Median Asking:

$320,000

Sale Price/ft²

$167

Below Asking

0.03%

Average Days on Market

55

Average Home Size

2168 ft²

Average Home Age

22.3 years

Currently For Sale

8 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

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MichRIC

Listed by: Donald J Wurtzel, Cornerstone Real Estate
Last Updated: 3 years ago
Data Source: MichRIC, MLS# 24005055
Information is deemed reliable but not guaranteed. Copyright 2026 MichRIC, LLC. All rights reserved. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 348 Princeton Drive built and last sold?
The property at 348 Princeton Drive was built in 1993 and last sold on Mar 1, 2024 for $335,000.
How much is this home worth?
The estimated value of the home located at 348 Princeton Drive is $0.
What are some comparable homes to 348 Princeton Drive?
There are currently no comparable homes to 348 Princeton Drive.
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