Seller's Agent in 2017
Michele Safford
RE/MAX of Southeast Michigan
(248) 912-8929
50634 Drakes Bay Dr Unit 12 Novi, MI 48374
Island Lake NeighborhoodEstimated Value: $1,237,000 - $2,160,000
5
Beds
5.5
Baths
5,050
Sq Ft
$366/Sq Ft
Est. Value
Highlights
- 140 Feet of Waterfront
- Dock Facilities
- Outdoor Pool
- Novi High School Rated A+
- Tennis Courts
- Second Garage
About This Home
As of October 2017Scenic Lake Front Beauty! Luxury Resort Living in Prestigious Island Lake on 1.13 Acres. Quality craftsmanship throughout, dramatic 2 story foyer with elegant curved staircase, library w/custom built-in bookshelves, formal living room, 2 story dining room w/pillared entry, tray ceiling, family room w/custom surround granite fireplace, entertainment center, chef's delight kitchen w/oversized island, 42" cabinets, cooktop, spacious breakfast room, first floor in-law suite w/bath/5th bedroom, stunning master suite w/private balcony overlooking the lake, sitting room, his/her closets, glamour bath w/porcelain tile, sep oversized Jacuzzi tub,/shower, princess suite, guest bedroom w/bath access, spectacular finished lower level walk-out for entertaining, custom designed high end wet bar, game room w/fieldstone fireplace, exercise room, theater room, 2 tier deck, roofed patio, custom designed beachfront. The perfect home for entertaining. Subdivision beach, pool, clubhouse and tennis courts.
Last Agent to Sell the Property
RE/MAX Home Sale Services License #6501264214 Listed on: 07/18/2017
Last Buyer's Agent
RE/MAX Home Sale Services License #6501264214 Listed on: 07/18/2017
Home Details
Home Type
- Single Family
Est. Annual Taxes
Year Built
- Built in 2005
Lot Details
- 1.13 Acre Lot
- Lot Dimensions are 155x260x140x259
- 140 Feet of Waterfront
- Lake Front
HOA Fees
- $107 Monthly HOA Fees
Home Design
- Colonial Architecture
- Brick Exterior Construction
- Poured Concrete
- Composition Roof
- Asphalt Roof
Interior Spaces
- 5,050 Sq Ft Home
- 2-Story Property
- Wet Bar
- Bar Fridge
- Gas Fireplace
- Family Room with Fireplace
- Security System Leased
Kitchen
- Microwave
- Dishwasher
- Disposal
Bedrooms and Bathrooms
- 5 Bedrooms
Finished Basement
- Walk-Out Basement
- Sump Pump
- Fireplace in Basement
Parking
- 4 Car Attached Garage
- Second Garage
- Garage Door Opener
Outdoor Features
- Outdoor Pool
- Dock Facilities
- Tennis Courts
- Balcony
- Deck
- Patio
- Exterior Lighting
- Porch
Utilities
- Forced Air Heating and Cooling System
- Humidifier
- Heating System Uses Natural Gas
- Programmable Thermostat
- Natural Gas Water Heater
- High Speed Internet
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 2219176012
Community Details
Overview
- Island Lake Shores South Occpn 1553 Subdivision
Amenities
- Clubhouse
Recreation
- Community Pool
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 18, 2017
Closed on
Oct 19, 2017
Sold by
Wang Le Yi and Wang Hong
Bought by
Baddam Krishna and Baddam Vandana
Seller's Agent
Michele Safford
RE/MAX Home Sale Services
Buyer's Agent
Michele Safford
RE/MAX Home Sale Services
List Price
$1,495,000
Sold Price
$1,360,000
Premium/Discount to List
-$135,000
-9.03%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$490,101
Avg. Annual Appreciation
4.50%
Original Mortgage
$1,088,000
Outstanding Balance
$910,001
Interest Rate
3.78%
Mortgage Type
New Conventional
Estimated Equity
$1,015,153
Purchase Details
Closed on
Apr 10, 2006
Sold by
Toll Mi Ii Lp
Bought by
Wang Le Yi and Wang Hong
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$991,500
Interest Rate
5.87%
Mortgage Type
New Conventional
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Baddam Krishna | $1,360,000 | None Available | |
| Wang Le Yi | $1,322,125 | Multiple |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Baddam Krishna | $625,000 | |
| Open | Baddam Krishna | $1,088,000 | |
| Previous Owner | Wang Le Yi | $417,000 | |
| Previous Owner | Wang Le Yi | $417,000 | |
| Previous Owner | Wang Le Yi | $417,000 | |
| Previous Owner | Wang Le Yi | $991,500 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 10/19/2017 10/19/17 | Sold | $1,360,000 | -9.0% | $269 / Sq Ft |
| 09/14/2017 09/14/17 | Pending | -- | -- | -- |
| 09/01/2017 09/01/17 | For Sale | $1,495,000 | +9.9% | $296 / Sq Ft |
| 08/08/2017 08/08/17 | Off Market | $1,360,000 | -- | -- |
| 07/18/2017 07/18/17 | For Sale | $1,495,000 | -- | $296 / Sq Ft |
Source: Realcomp
Tax History Compared to Growth
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 | $24,698 | $898,570 | $0 | $0 |
| 2022 | $22,455 | $835,930 | $0 | $0 |
| 2020 | $22,225 | $802,300 | $166,000 | $636,300 |
| 2015 | -- | $879,500 | $0 | $0 |
| 2014 | -- | $823,450 | $0 | $0 |
| 2011 | -- | $531,450 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Michele Safford
Map
Source: Realcomp
MLS Number: 217062303
APN: 22-19-176-012
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Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
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