1021 Maiden Lane , Ann Arbor, MI 48105
Est. $3,835/mo with current taxes · · See the breakdown
About this home
Seller is offering a land contract for $415,000 purchase price, 5.5% interest amortized on 30-year term and 2 year balloon payment, for buyer with minimum of 780 credit score, and down payment of $45,000 with closing by end of the year. Principle and Interest payments would be approx $2,218. Situated in the desirable community of Nielsen Square, this move-in ready condo places you just a 5-minute walk from the medical campus, hospital, and Huron River, and a 10-minute walk to Central Campus and vibrant Kerrytown. Step inside to an inviting open floor plan accented by stylish, durable wood-look flooring (2015) and a dedicated dining space. The refreshed kitchen boasts a brand-new SS refrigerator and electric stove/oven (July 2026), alongside a new sink and garbage disposal (July 2026). The spacious primary bedroom features a private balcony overlooking the community grounds. A comfortably sized second bedroom sits next to the full bath, which features a new tub surround (2024).Downstairs, discover an exceptional finished bonus den complete with a half bath with new flooring (Aug 2026)???ideal for a home office, media room, or study space. Convenient attached 1-car garage offering direct entry or extra storage options. This condo has many recent updates: full interior paint covering all ceilings, walls, trim, and doors (August 2026), brand-new carpet installed throughout main level (July 2026), updated vinyl flooring in the half bath (August 2026), and new window blinds throughout, new central AC unit (2025). This turnkey home combines improvements, fresh cosmetic updates, and an unbeatable walkable location. Wonderful rental potential as well! Has a current CofO with City of Ann Arbor until Sept. 2027. Seller to pay assessment that is due by Dec. 31st. Assessment for fire suppression system upgrades and new roofs. Monthly HOA is $262. HOA is also replacing the entire front porch and stairs in 2027.
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 52.67 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 | $415,000 |
| Beds | 2 |
| Baths | 1 full, 1 half |
| Square feet | 891 |
| Type | Condominium |
| Subdivision | NIELSEN SQUARE CONDOS |
| County | Washtenaw |
| MLS # | 81026057890 |
| Listed | 2026-10-31 |
| Days on market | 0 |
| Year built | 2001 |
| Possession | At closing |
| Basement | Full |
| Heating | Forced air, Natural gas |
| Foundation | Basement |
| Garage spaces | 1.0 |
| Water / Sewer | City water & sewer |
| Parcel number | 090921302059 |
| Listing office | The Charles Reinhart Company |
Property taxes: the seller's bill vs. yours
| This seller today | You, the year after buying | |
|---|---|---|
| Taxable value | $146,038 | about $207,500 |
| Yearly property tax | $10,091 | about $10,928 |
Michigan caps a homeowner's taxable value until the home sells, then it resets. That's about $837 a year more than this seller pays. The assessor's state equalized value (SEV) is $214,800. 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 Ann Arbor's 2025 homestead rate of 52.67 mills and assumes you claim the homestead exemption. See Ann Arbor's full tax breakdown or run the uncapping calculator.
Location
IDX provided courtesy of Realcomp II Ltd. via Match Realty LLC and Greater Metropolitan Association of REALTORS, ©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 2026-10-31T19:22+00:00; refreshed at least twice daily.