320 University AVE , South Lyon, MI 48178
Est. $2,602/mo with current taxes · · See the breakdown
About this home
Enjoy the best of South Lyon living at 320 University Avenue! This 3-bedroom, 1-bath brick ranch offers hardwood flooring throughout, stainless steel appliances, including a new dishwasher installed in 2026, and a finished basement with additional space to relax and entertain. The large, fully fenced backyard is ready for outdoor enjoyment, with plenty of room for gardening and activities, a deck with a weatherproof TV mount, and a peach tree in the yard. Spacious two-car garage offers ample room for parking and storage and is equipped with a new garage door opener installed in 2026 with myQ app connectivity. Additional recent updates include a brand-new water heater installed in 2026. Located within walking and biking distance of downtown South Lyon, you'll enjoy easy access to local shops, restaurants, McHattie Park, and nearby walking and biking trails. Welcome home!
Monthly payment
The tax line is the seller's current bill from the MLS. Michigan uncaps the taxable value the year after a sale, so tap See uncapped taxes for what a buyer will likely pay then.The uncapped tax line is this home's bill after it uncaps: half the price times 42.15 mills, the 2025 homestead rate here. Insurance is a $2,400/yr placeholder and PMI 0.55% of the loan below 20% down. An estimate, not a loan quote.
The facts
| Price | $320,000 |
| Beds | 3 |
| Baths | 1 full |
| Square feet | 1,888 |
| Type | Single family residence |
| Subdivision | LYON GARDENS |
| County | Oakland |
| MLS # | 20261087384 |
| Listed | 2026-10-29 |
| Days on market | 5 |
| Year built | 1974 |
| Possession | Negotiable |
| Stories | 1 story |
| Basement | Finished |
| Heating | Forced air, Natural gas |
| Foundation | Basement, Poured, Sump pump |
| Garage spaces | 2.0 |
| Water / Sewer | City water & sewer |
| Parcel number | 2130427002 |
| Listing office | 3DX Real Estate-Brighton |
Property taxes: the seller's bill vs. yours
| This seller today | You, the year after buying | |
|---|---|---|
| Taxable value | $126,980 | about $160,000 |
| Yearly property tax | $5,395 | about $6,744 |
Michigan caps a homeowner's taxable value until the home sells, then it resets. That's about $1,349 a year more than this seller pays. The assessor's state equalized value (SEV) is $136,770. Your taxable value resets to the SEV the year after you buy, and assessors usually raise it to about half the sale price. Estimate uses South Lyon's 2025 homestead rate of 42.15 mills and assumes you claim the homestead exemption. See South Lyon's full tax breakdown or run the uncapping calculator.
Location
IDX provided courtesy of Realcomp II Ltd. via Match Realty LLC and Realcomp II Ltd, ©2026 Realcomp II Ltd. Shareholders. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Listings refreshed 2026-11-03T10:57+00:00; refreshed at least twice daily.