$14,900

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Drake Ave
Butterfield, MN 56120

Potential Profit
$36,377

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Status: Active
Listing ID: 55522372
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Learn about Drake Ave in Butterfield, MN

This property is available as a foreclosure at Drake Ave. Our team of real estate experts has conducted a thorough analysis of the current market conditions in Butterfield, specifically for Drake Ave and comparable listings. Based on this expert analysis, the estimated market value is $46,394. This has potential equity of $36,377. If purchased for rental purposes, the monthly rental rate could range between $840 and $1,141, providing a solid return on investment. For those interested in resale, the estimated profit from selling is $36,377. Factors considered in this calculation include the property location, condition, status, and convenience, all assessed by our experienced professionals. Properties like this one on Drake Ave are updated daily along with others in Butterfield, Minnesota, ensuring you have the most current and accurate information. Since this property is a foreclosure, be sure to check out our Foreclosure Timeline for Drake Ave below to see detailed and helpful information about what stage of the foreclosure process this listing is in.


Buy this home for as little as

Plus with taxes and insurance

Based on 20% down, 30 year mortgage, with 6% APR

Principal
Interest
Property Taxes
Homeowners Insurance
Total Monthly Ownership Cost

All calculations are estimates provided for informational purposes. Actual amounts may vary by location. It is important to know that mortgage rates are dependent on credit scores, loan timeline, and a down payment amount.

Foreclosure Timeline

Drake Ave in Butterfield Minnesota Property History

Not in Foreclosure

Pre-Foreclosure

Auction

Bank Owned

Find out more about this property on Drake Ave
View Foreclosure Status
07/09/20
Bank owned
The lender has taken ownership of this property through a foreclosure auction for the amount of $14,900. Because the properties were not sold at auction, the lender is now the owner and is engaged in the process of marketing and selling them to potential buyers. The longer lenders own properties, however, the more eager they become to sell, often at reduced prices.
Rental Chart
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for Drake Ave in Butterfield Minnesota
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Property Information

Foreclosure

The property located at Drake Ave in Butterfield, MN is listed as a Foreclosure

Properties like Drake Ave in Butterfield, Minnesota listed as foreclosures have passed the point of auction or public sale. Because the properties were not sold at auction, the lender is now the owner and is engaged in the process of marketing and selling them to potential buyers through a local real estate agent or auction house in Butterfield, MN. The longer lenders own properties like this on Drake Ave, the more eager they become to sell, often at reduced prices.

First Steps to Buying a Foreclosure

Foreclosures often mean the original homeowner had some sort of setback that caused him to allow his lender to take the property. Rarely does a lender want to retain possession of real estate, so it will be motivated to move it off the books as quickly as possible. A fast turnover is what the lender is looking for, so a big part of the marketing plan might include pricing for a quick sale. In order to take advantage of foreclosed properties there are some basic steps to be followed:

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Rental Value

The estimated rental value for Drake Ave located in Butterfield, MN is $991/month. Comparable homes around Drake Ave that are rentals have monthly ranges starting as low as $840 per month and as high as $1,141 per month. An owner looking to use this property as an investment could bring a return in the area of $840 - $1,141 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.

Listing History

Start Date End Date Listing Type Bank Name
02/29/24 03/03/24 Foreclosure
07/09/20   Foreclosure
11/03/19 01/30/20 Fixer Upper
10/21/19 02/10/20 Foreclosure
09/29/19 02/05/20 Foreclosure
08/24/19 08/27/19 Foreclosure

Similar Homes Nearby Butterfield, MN


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Drake Ave
Butterfield, MN 56120

$14,900

Status: Active Listing ID: 55522372

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Listing URL

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