682 Sylvanwood Dr

491K

3 beds

3 baths

2,166 sqft

3 bd • 3 ba • 2,166 sf

This analysis was generated on 2/22/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$490,900

Price/Sq.Ft

$227

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Location in Troy, MI: Troy is a desirable city with excellent schools, a high median income ($123,388), and a strong sense of community. This location is a major selling point. • 3 bedrooms and 3 bathrooms: This configuration is suitable for families and offers ample living space. • Proximity to the Somerset Collection: The property's location offers convenient access to high-end shopping and dining. • Potential for customization: The lack of detailed information suggests an opportunity for buyers to personalize the space to their liking. • Strong rental market: The median rent for a 3-bedroom property in Troy is $2,270, indicating a strong rental market for potential investors.

The Bad

• Lack of property details: The absence of a property description, room details, and utility information makes it difficult to assess the property's true value and condition. This lack of transparency is a significant drawback. • Unknown year built: The unknown age of the property raises concerns about potential maintenance issues, outdated systems, and compliance with current building codes. Older homes may require significant renovations. • High price per square foot: At $226.64 per square foot, the property is priced at the higher end compared to the average for Troy. This may deter potential buyers, especially given the lack of detailed information. • Competitive market: Troy's desirable location often leads to a competitive market. Be prepared to move quickly and potentially offer over asking price in a hot market.

The Ugly

• Unknown maintenance costs: Without knowing the age and condition of the property, it's impossible to estimate potential maintenance costs. This could lead to unexpected expenses for the buyer. • Potential for hidden problems: The lack of property details raises concerns about potential hidden problems, such as structural issues, water damage, or pest infestations. • High property taxes: Troy has relatively high property taxes compared to some surrounding areas. Be sure to factor these into your budget and understand how they might change over time. Don't just look at the current rate, but research historical trends.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Buyers seeking a home in a highly-rated school district: Troy's schools are consistently ranked among the best in Michigan. The lack of property details may be less of a concern for those prioritizing school access. • Individuals comfortable with potentially higher property taxes: Troy's property taxes are higher than some surrounding areas, making this property potentially more appealing to those with higher budgets. • Buyers looking for a home with potential for customization: The lack of detailed property information suggests an opportunity for buyers to personalize the space to their liking. • Individuals who value a location near amenities: The property's proximity to the Somerset Collection is a selling point for those who appreciate easy access to shopping and dining. • Buyers who are prepared for a competitive market: Troy's desirability means buyers should be ready to act quickly and potentially offer above the asking price.

Not For

• Buyers seeking a move-in ready home: The lack of property details suggests that updates or renovations may be needed. • Individuals on a tight budget: Troy's high property taxes and competitive housing market may make it unaffordable for some buyers. • Buyers who prefer a quiet, rural setting: Troy is a suburban city with a mix of residential and commercial areas. • Individuals who are not comfortable with a competitive market: The need to move quickly and potentially offer over asking price may be stressful for some buyers. • Buyers who require detailed information upfront: The limited property details may be frustrating for those who prefer to have a comprehensive understanding of a property before making an offer.

Demographics

Area Median Income

$123,388

Property History

Price History

Ownership Timeline

$0Financed

Mar 5, 2021

Zulfiqar Ali ChoudaryZulfiqar Ali Choudary, Sabahat Shahwar Khan

Intrafamily Transfer

Non-Arm's Length Transactions

$300,000Cash Purchase

Aug 11, 2016

Joseph Honce Iv, Margaret HonceZulfiqar Ali Choudary

Warranty Deed