NOT LISTED FOR SALE

50596 Drakes Bay Dr Novi, MI 48374

Island Lake Neighborhood

Estimated Value: $1,032,000 - $2,064,000

6 Beds
4.5 Baths
4,296 Sq Ft
$418/Sq Ft Est. Value

Last Sold November 22, 2021

Last sale price $1,760,000 $410 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $11,798/month

161 Days on Market

Highlights

  • Private Waterfront
  • Dock Facilities
  • Outdoor Pool
  • Deerfield Elementary School Rated A+
  • Tennis Courts
  • Built-In Refrigerator

About This Home

As of November 2021

Spectacular waterfront home in Island Lake of Novi which has been completely updated with all top of line flooring, fixtures, cabinets, countertops, appliances, new marble fireplace, closet organizers, window treatments, doorwall to deck, and more in 2020-2021! No expense has been spared in this 6 bedroom, 4 1/2 bath mansion with a 1st floor master and finished walkout basement with 2 additional bedrooms, exercise room, and full bath. The list continues with a whole-house sound system, 2 new garage doors and openers, a new "under deck oasis" below the large deck which then extends to a huge open patio with a view of the lake and private beach. The community clubhouse offers many amenities, plus an Olympic size pool, sand volleyball, tennis court, etc. All measurements are approximate.

Last Agent to Sell the Property

Lisa Chung

Real Estate One-Northville License #6501363268 Listed on: 06/01/2021

Real Estate One-Northville

Last Buyer's Agent

Jolie Warpool

Signature Sotheby's International Realty Bham License #6501242773

Signature Sotheby's International Realty Bham

Home Details

Home Type

  • Single Family

Est. Annual Taxes

Year Built

  • Built in 2005 | Remodeled in 2021

Lot Details

  • 1.09 Acre Lot
  • Lot Dimensions are 150x319x150x306
  • Private Waterfront
  • 150 Feet of Waterfront
  • Lake Front

HOA Fees

  • $98 Monthly HOA Fees

Home Design

  • Colonial Architecture
  • Brick Exterior Construction
  • Poured Concrete

Interior Spaces

  • 4,296 Sq Ft Home
  • 2-Story Property
  • Bar Fridge
  • Ceiling Fan
  • Family Room with Fireplace
  • Finished Basement
  • Walk-Out Basement

Kitchen

  • Built-In Electric Oven
  • Electric Cooktop
  • Down Draft Cooktop
  • Microwave
  • Built-In Refrigerator
  • Dishwasher
  • Stainless Steel Appliances
  • Disposal

Bedrooms and Bathrooms

  • 6 Bedrooms

Laundry

  • Dryer
  • Washer

Parking

  • 3 Car Direct Access Garage
  • Garage Door Opener

Outdoor Features

  • Outdoor Pool
  • Dock Facilities
  • Boat Facilities
  • Tennis Courts

Location

  • Ground Level Unit

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Assessor Parcel Number 2219176013

Community Details

Overview

  • Ks Management, Inc Association, Phone Number (734) 285-4442
  • Island Lake Shores South Occpn 1553 Subdivision
  • Swim Association

Amenities

  • Clubhouse

Recreation

  • Community Pool

Home Details

Home Type

Single Family

Est. Annual Taxes

$18,681

Year Built

Built in 2005 | Remodeled in 2021

Lot Details

0

HOA Fees

$98 per month

Listing Details

  • Property Type: Residential
  • Architecture Style: Colonial
  • Architecture Level: 2 Story
  • Assessment: 86.98
  • Year Built: 2005
  • State Equalized Value: 643750.0000
  • Year Renovated: 2021
  • Entry Location: Ground Level
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 2

Interior Features

  • Fireplace: Yes
  • Fireplace Locations: Family Room
  • Room Count: 19
  • Total Bedrooms: 6
  • Total Bathrooms: 4.10
  • Full Bathrooms: 4
  • Half Bathrooms: 1
  • Basement: Yes
  • Basement Type: Finished, Walkout Access
  • Kitchen Appliances: Built-In Electric Oven, Built-In Refrigerator, Dishwasher, Disposal, Down Draft, Dryer, Electric Cooktop, Microwave, Stainless Steel Appliance(s), Washer, Bar Fridge
  • Sq Ft Combined: 6846
  • Sq Ft Lower Floor: 2550
  • Total Sq Ft: 4296
  • Sq Ft Total Bsmt: 2782

Exterior Features

  • Waterfront Name: Island Lake
  • Pool: Yes
  • Waterfront: Yes
  • Foundation Details: Basement
  • Construction Materials: Brick
  • Exclusions: Yes
  • Exterior Features: Tennis Court, Club House, Pool – Community
  • Foundation Materials: Poured
  • Frontage Feet: 150
  • Road Frontage Type: Paved
  • Water Frontage Feet: 150.00
  • Waterfront Description: Lake Front, Private Water Frontage, Water Front

Garage/Parking

  • Garage Size: 3 Car
  • Garage Features: Direct Access, Electricity, Door Opener, Side Entrance, Attached
  • Garage: Yes

Utilities

  • Heating Fuel: Natural Gas
  • Cooling: Ceiling Fan(s), Central Air
  • Heating: Forced Air
  • Sewer: Public Sewer (Sewer-Sanitary)
  • Water Source: Public (Municipal)

Condo/Co-op/Association

  • Association Fee Frequency: Quarterly
  • Phone: 7342854442
  • Association Fee: 295
  • Association Contact: KS Management, Inc
  • Association Fee: Yes

Schools

  • School District: Novi

Lot Info

  • Lot Size Area: 1.09
  • Lot Dimensions: 150x319x150x306
  • Parcel Number: 2219176013

Tax Info

  • Tax Amount Summer: 15450.0000
  • Tax Amount Winter: 3231.0000
  • Total Tax: 18681.0000
  • Taxable Value: 499650.0000

Multi Family

  • Waterfront Features: Boat Facilities, Dock Facilities, Swim Association

MLS Schools

  • School District: Novi

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 13, 2023
Sold by
Babu and Abbey
Bought by
Babu Seilesh and Crooks-Babu Abbey
Current Estimated Value
$1,795,783

Purchase Details

Listed on
Jun 1, 2021
Closed on
Nov 22, 2021
Sold by
Asia Automotive America Inc
Bought by
Babu Seilesh and Crooks-Babu Abbey
Seller's Agent
Lisa Chung
Real Estate One-Northville
Buyer's Agent
Jolie Warpool
Signature Sotheby's International Realty Bham
List Price
$2,000,000
Sold Price
$1,760,000
Premium/Discount to List
-$240,000
-12%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
1.11%
Original Mortgage
$1,340,000
Interest Rate
3.09%
Mortgage Type
New Conventional

Purchase Details

Listed on
May 11, 2020
Closed on
Jul 15, 2020
Sold by
Hall Brian R and Hall Bonnie S
Bought by
Asia Automotive America Inc
Seller's Agent
James Wolfe
Century 21 Curran & Oberski
Buyer's Agent
Lisa Chung
Real Estate One-Northville
List Price
$1,499,500
Sold Price
$1,400,000
Premium/Discount to List
-$99,500
-6.64%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
18.33%

Purchase Details

Closed on
Oct 27, 2005
Sold by
Toll Mi Ii Limited Partnership
Bought by
Hall Brian R and Hall Bonnie S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$200,000
Interest Rate
5.62%
Mortgage Type
Adjustable Rate Mortgage/ARM
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Babu Seilesh -- Land Title
Babu Seilesh $1,760,000 Capital Title
Asia Automotive America Inc $1,400,000 None Available
Hall Brian R $1,045,610 First American Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Babu Seilesh $1,340,000
Previous Owner Hall Brian R $130,000
Previous Owner Hall Brian R $200,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/22/2021 11/22/21 Sold $1,760,000 -9.7% $410 / Sq Ft
11/10/2021 11/10/21 Pending -- -- --
08/10/2021 08/10/21 Price Changed $1,950,000 -2.5% $454 / Sq Ft
06/01/2021 06/01/21 For Sale $2,000,000 +42.9% $466 / Sq Ft
07/15/2020 07/15/20 Sold $1,400,000 -6.6% $326 / Sq Ft
07/02/2020 07/02/20 Pending -- -- --
05/11/2020 05/11/20 For Sale $1,499,500 -- $349 / Sq Ft
Source: Realcomp

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2023 $22,980 $827,310 $0 $0
2022 $27,557 $761,770 $0 $0
2020 $15,450 $643,750 $166,000 $477,750
2015 -- $708,650 $0 $0
2014 -- $666,000 $0 $0
2011 -- $425,850 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Lisa Chung

    Seller's Agent in 2021

    Lisa Chung

    Real Estate One

    (248) 756-7910

    3 in this area

    50 Total Sales

    Lisa Chung
    Section Image
  • Jolie Warpool

    Buyer's Agent in 2021

    Jolie Warpool

    Signature Sotheby's International Realty Bham

    (248) 212-9080

    1 in this area

    48 Total Sales

    Jolie Warpool
    Section Image
  • James Wolfe

    Seller's Agent in 2020

    James Wolfe

    Century 21 Curran & Oberski

    (248) 705-0508

    2 in this area

    280 Total Sales

    James Wolfe
    Section Image
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Map

Source: Realcomp

MLS Number: 2210040750

Realcomp

APN: 22-19-176-013

Michigan Oakland County Novi 48374 Island Lake

50596 Drakes Bay Dr, Novi, MI

This home is located at 50596 Drakes Bay Dr, Novi, MI 48374 since 01 June 2021 and is currently estimated at $1,795,783, approximately $418 per square foot. This property was built in 2005. 50596 Drakes Bay Dr is a home located in Oakland County with nearby schools including Deerfield Elementary School, Novi Middle School, and Novi High School.

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IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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