Laura Jewett

Laura Jewett

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Closed

$285,000

($92,290 down)
VA

1124 Summit Avenue, Detroit Lakes, MN 56501

4
2
1,790 sqft
PITI Monthly
$1,888.82 /mo

Listing courtesy of: , eXp Realty (3523 FGO)

Assumed Rate

2.15%
7.15%

Principal & Interest

$1,510 /mo
$2,107 /mo

What's Special

DINING
HARDWOOD FLOORS
SPRINKLER SYSTEM
CHARMING
COZY

You're home search has come to an end once you see this charming character 4 bedroom 2 bathroom home. Sits in an established highly sought after neighborhood. You're bound to fall in love with the vintage millwork and hardwood floors throughout. Boasts a formal dining area with an elegant bay window for entertaining. Afterwards head into the living room and cozy up to the field stone gas fire place. Moving onto the kitchen you will notice the abundance of cabinets, newer countertops, and main level laundry. However if you prefer to have the laundry in the basement there are hook ups located down there as well. Heading upstairs you will see the elegant staircase that leads you to the large four bedrooms and even more built in cabinetry. Looking to enjoy the outdoors? Choose from enjoying the mornings or evenings in the three season porch or head around back to the fully fenced in beautiful back yard. Equipped with a newer sprinkler system to ensure you will always have that beautiful yard. What makes this home also stand out is 29 windows were replaced in the last 4 years by Window World to increase energy efficiency and an oversized heated garage built approximately a year ago. Other recent updates include newer electrical panel and wiring, gutter guards, and flooring. Owners have hired an inspector to thoroughly inspect the home, report available upon request. This home is ready for it's next owner. Assumable loan at a 2.25% interest rate, 12 years remaining. Take a look today!

... Show more

Assumption Snapshot

Type of Loan
VA
Interest Rate
2.15
Remaining Loan Term
11 years, 6 months
Monthly PITI
$1,888.82/mo
Estimated Loan Balance
$216,585
Cash to close
$92,290
Interest Paid
$15,744

Facts & Features

Interior

Bedrooms & Bathrooms
  • Bedrooms: 4
  • Bathrooms: 2
Cooling & Heating
  • Cooling: Central Air
  • Heating: Forced Air
Features
  • Materials: Brick/Stone, Steel Siding
  • Community: Unknown
  • Has Fireplace: Yes
  • Fireplace Features: Gas, Living Room
  • Flooring: Carpet, Hardwood

Exterior

Fencing
  • Fencing: Chain Link, Full
Roof
  • Roof: Architectural Shingle
Parking
  • Garage: Yes
  • Garage Spaces: 2
  • Carport: No
  • Carport Spaces:
Water
  • Sewer: City Sewer/Connected
  • Water Source: City Water/Connected
Pool
  • Has Pool: No
  • Pool Features: Unknown

Construction

Type & Style
  • Stories:
  • Home type: Single Family Residence
  • Architectural Style: Unknown
Materials
  • Brick/Stone, Steel Siding
  • Roof: Architectural Shingle
Condition
  • Year Built: 1910
Details
  • Builder:

Community & HOA

Community
  • Subdivision: Holmes Add
  • Features: None
HOA
  • Has HOA: No
Location
  • Region: Detroit Lakes

Financial Details

  • Price per Sqft: $159.22
  • Tax Annual Amount: $2742
  • On Market Date: 2024-09-18T00:00:00.000Z
Inquire about this property

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $92,290 (32%)
You can enter any amount below - secondary financing will cover the difference if needed.
32%
$

You cover the entire equity of $92,290!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage2.15% Sellers Rate
$192,710
Your Cash$92,290
Total Purchase Price:$285,000

Assumed vs Traditional Mortgage

Assumed @ 2.15%
$1,510/mo
Traditional @ 7.5%
$2,155/mo
You save $645/month ($7,738/year)

*Secondary financing rates are an estimated value based on input

MLS ID: NST6604088

Listing From: northstar

Last updated: 2025-03-18T05:12:04.000Z

© , northstar. All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.

Assumed Rate

2.15%
7.15%

Principal & Interest

$1,510 /mo
$2,107 /mo
Inquire about this property

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $92,290 (32%)
You can enter any amount below - secondary financing will cover the difference if needed.
32%
$

You cover the entire equity of $92,290!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage2.15% Sellers Rate
$192,710
Your Cash$92,290
Total Purchase Price:$285,000

Assumed vs Traditional Mortgage

Assumed @ 2.15%
$1,510/mo
Traditional @ 7.5%
$2,155/mo
You save $645/month ($7,738/year)

*Secondary financing rates are an estimated value based on input

Follow Us
UMe Assumptions
Agent/Broker
Laura Jewett(480) 628-2563laura@azinspiredliving.comMLS SA525254000

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© Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Listing Service. Real estate listings held by brokerage firms other than are marked with the Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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