tomo logo

$450,000

Beds
3
Baths
1.0
sq ft
1,240

1408 Dr Martin Luther King Jr Dr, Pensacola, FL 32503

1408 Dr Martin Luther King Jr Dr

Pensacola, FL 32503

  • 5 days on market
Great Private Home near Downtown and 15 minutes to Pensacola Beach! Includes upscale 25x8 Tiny Home that is a perfect accessory dwelling for any purpose. This property has been operating as a successful short term rental with two separate listings and healthy cash flow. Fully renovated to enhance historical features like all wood floors while adding convenience and beauty of modern design. Enjoy the full privacy of custom wood fencing surrounding the property. Tiny home comes with a stock tank pool. This is a must see property and has rare benefits and amenities you won't see in other listings. Schedule your tour or video tour today!

Details

Property type

Single Family Residence

Est. home value

$173,821

Lot size

7,784.172 sq ft

Price per sq ft

$363

Year built

1918

HOA

No

Price History

12/16/2024
Pensacola

Pensacola #656429

Listed
$450,000
+448.78%
02/15/2018
Pensacola

Pensacola #530072

Sold
$82,000

Schools & Community

Neighborhood: 

East Downtown

Elementary school: 

A.K. Suter

Middle school: 

Workman

High school: 

Washington

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$290,765
Asking price
$450,000
Closing costs (~8% of asking)
-$36,000
Est. remaining loan balance
-$123,235
Cash to seller
$290,765

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Cardinal Financial Company Lp

Loan start date

May 2019

Original loan amount

$138,000

Est. remaining balance

$123,235

Interest rate

4.06%

Loan type

New Conventional, 30 year

Seller

Craig Varrichio and Shanna Varrichio

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 12/22/2024 at 5:35 AM

Listing updated: 12/16/2024 at 7:25 PM

Listed by: Tom Elkins, EXP Realty, LLC Phone #: (888) 883-8509

MLS: Pensacola #656429

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