23532 Lahser Road, Southfield MI — Just Listed — $160,000
Remerica United Realty
JUST LISTED
23532 Lahser Road
Southfield, MI 48033
List Price
$160,000
2 Bed · 1.5 Bath · 1,217 sq ft
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Heather Ketchel
Remerica United Realty Lic #314367 · Heather Ketchel Lic #422405
"Straight answers and steady hands for buyers and sellers across Southeast Michigan."
Call / Text
(810) 599-8513
Email
realestatewithheather@gmail.com
Three Ways to Own This Home
Estimated payments — Conventional at 6.500%, 30-year fixed, 740 FICO, owner-occupied primary residence
Down Payment
3%
$4,800 · First-time buyer
Freddie Mac HomeOne · AMI LLPA waiver
Loan Amount$155,200
Principal & Interest$981
Mortgage Insurance$69
Property Taxes$284
Condo Insurance (HO-6)$35
Association Dues$350
Total Monthly$1,719
Your Monthly Payment
$1,719
APR 7.056%
Down Payment
5%
$8,000
Conforming 30-yr fixed · AMI LLPA waiver
Loan Amount$152,000
Principal & Interest$961
Mortgage Insurance$42
Property Taxes$284
Condo Insurance (HO-6)$35
Association Dues$350
Total Monthly$1,672
Your Monthly Payment
$1,672
APR 6.883%
Down Payment
10%
$16,000
Conforming 30-yr fixed · AMI LLPA waiver
Loan Amount$144,000
Principal & Interest$910
Mortgage Insurance$28
Property Taxes$284
Condo Insurance (HO-6)$35
Association Dues$350
Total Monthly$1,607
Your Monthly Payment
$1,607
APR 6.774%
Association dues are in these numbers, not hidden under them. $350/mo covers trash, snow removal, and grounds maintenance — that is 20% of the payment, so leaving it off would misstate what you actually write a check for each month. Lenders count it in your debt-to-income ratio too. Ask the association for current dues, reserve balance, and any pending special assessment before you write an offer.
The tax figure you'll see online is the wrong one. Zillow and Realtor.com both show $4,141/yr. That is the seller's NON-homestead bill (68.3569 mills). An owner-occupant who files the Michigan Principal Residence Exemption is taxed at 57.5903 mills instead, which on the current $59,280 assessed value is about $3,414/yr, or $284/mo. That is roughly $60/mo of buying power the online estimate hands away. The PRE must be filed with the City of Southfield after closing.
Mortgage Insurance (MI): Required on conventional loans above 80% LTV; auto-cancels at 78% LTV per the Homeowners Protection Act.
Run Your Own Numbers
Adjust the down payment, rate, or price — see your payment update live.

Estimated Monthly Payment

Loan Amount
Principal & Interest
Mortgage Insurance
Property Taxes (est)
Insurance (est)
Association Dues
Total Monthly
Cash to Close (est): — down payment + ~$8,200 closing. Ask Rob about credits, gift funds, and DPA.
The Cost of Waiting
"I'll wait for rates to drop" is the most expensive sentence in real estate. Here's the math.
ScenarioBuy TodayWait 6 monthsWait 1 yearWait 2 yearsWait 3 years
Property Value (3.5% est.)$160,000$162,776 ▲ 1.7%$165,600 ▲ 3.5%$171,396 ▲ 7.1%$177,395 ▲ 10.9%
Down Payment Needed (5%)$8,000$8,139$8,280$8,570$8,870
P&I + MI Payment$1,003$1,003$1,003$1,003$1,003
Lost Appreciation—$2,776$5,600$11,396$17,395
Lost Equity Build-up—$836$1,699$3,512$5,446
TOTAL COST OF WAITING$0$3,612$7,299$14,908$22,841
5 Years from Now
What does owning this home do for your finances vs. renting?
IF YOU BUY
Net Wealth in 5 Years
+$39,741
Home value (3.5%/yr)$190,030
Loan balance (60 pmts)$142,289
= Total equity$47,741
Less down payment−$8,000
Net wealth gain+$39,741
IF YOU RENT
Net Wealth in 5 Years
-$92,379
Year 1 rent ($1450/mo)$17,400
Years 1–5 rent (3%/yr)$92,379
Equity built$0
Net wealth gain-$92,379
5-Year Wealth Swing: Buying vs Renting
$132,120
Financing Made Simple
Backed by McKenney Home Lending — a Michigan-licensed mortgage broker partnering with Remerica United Realty.
Rob McKenney
Owner / Mortgage Broker · McKenney Home Lending
"My job is to make sure the path to ownership is honest, fast, and built around your situation. We'll figure it out!"
NMLS #23394 · Company NMLS #2497854
Apply NowSchedule a Call
Equal Housing Lender · Remerica United Realty (Brokerage Lic #314367) · Heather Ketchel (Lic #422405) · Rob McKenney NMLS #23394 · McKenney Home Lending NMLS #2497854
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McKenney Home Lending is a licensed Michigan mortgage broker (NMLS 2497854). Rates and payment scenarios shown are based on a $160,000 owner-occupied condominium purchase in Southfield (Oakland County), MI, 740 FICO, 30-year fixed, current as of 2026-08-20. APR is shown with equal prominence to the interest rate; each column is a live wholesale quote pulled 8/21/2026 at 740 FICO on this property, and its APR reflects that column's own discount points (0.199% / 0.211% / 0.105%) and estimated closing costs. Conventional MI is required above 80% LTV and auto-cancels at 78% LTV per the Homeowners Protection Act; MI factors are estimates and vary by FICO, LTV, and product. Property tax estimate = current assessed value (SEV) $59,280 × 57.5903 mills (2025 Southfield / Southfield Public Schools homestead rate, State of Michigan Property Tax Estimator) ÷ 12 = $284/mo. The seller's current bill is $4,141/yr because the unit is taxed at the NON-homestead rate. The estimate above assumes the buyer occupies the unit and files the Michigan Principal Residence Exemption (PRE), which removes 18 mills of school operating tax. File the PRE by the statutory deadline or the higher rate applies. Assessed values are set annually by the local assessor and can change; this is an estimate, not a tax bill. Association dues of $350/mo (trash, snow removal, and grounds maintenance) are included in the Total Monthly figures shown and are paid to the association, not the lender; dues are set by the association and can change. Verify current dues, reserves, and any special assessment with the association before writing an offer. Condominium financing is subject to project review; not all condo projects are eligible for all loan programs. Not a commitment to lend. Subject to credit approval, underwriting and appraisal. Equal Housing Lender.