tomo logo

$2,685,000

Beds
7
Baths
7.0
sq ft
10,310

1875 Highway 142 E, Covington, GA 30014

1875 Highway 142 E

Covington, GA 30014

  • 79 days on market
    • Price drop $50,000↓
WOW! You will NOT find another property like this on the market. Perfect for an estate to enjoy peaceful living or added to your real estate portfolio as an income producing property. Previously featured in Netflix's "Sweet Magnolias" and the current owner has obtained a conditional use permit to use as an event venue. This property features 50 acres and over 10,000 square feet of fully renovated living space. Located only 55 minutes to Hartsfield-Jackson Airport and 12 minutes to Downtown Covington. The gated entrance will bring you down the long driveway right up to the main home. On the main level of the home you will find the kitchen, living room, laundry, 2 half bathrooms, office and spacious master suite. Multiple doors leading to the back porch that overlooks saltwater pool and the properties 2 ponds! Upstairs you will find 3 large bedrooms and 2 full bathrooms. Additional attic space if buyer desires expansion. In the basement you will find an entertainers DREAM! Full "speakeasy" setup and tons of additional finished space for additional living or event needs. There are also 2 half baths a full bathroom located in the basement. Walk-in mechanical room to make all your maintenance needs even simpler. Multiple doors from the basement onto the large brick patio as well! Above the 3 car garage you will find the perfect caretakers cottage with a full kitchen, bathroom and washer/dryer hookup. The property is fenced with 2 entrances from the main road. Stables, kennels and a hay barn are located on the property. Exterior renovation includes new siding, windows, roof, driveway/walkways, gutters, doors, lighting, columns, deck and more. Pool has new pump, heater, tile and pebble tech. Interior renovation includes new hardwood flooring, all wood cabinetry, countertops, bathrooms, lighting, paint and more! Schedule your showing on this once in a lifetime property.

Details

Property type

Single Family Residence

Est. home value

$1,240,214

Property condition

Updated/Remodeled

Lot size

50.06 acres

Price per sq ft

$261

Year built

1988

Annual property taxes

$17,734

Price History

09/16/2024
FMLS

FMLS #7423498

Price change
$2,685,000
-1.83%
09/01/2024
FMLS

FMLS #7423498

Price change
$2,735,000
-3.53%
08/13/2024
FMLS

FMLS #7423498

Price change
$2,835,000
-3.41%

Schools & Community

Elementary school: 

Mansfield

Middle school: 

Indian Creek

High school: 

Eastside

Community features: 

None

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

$2,099,590
Asking price
$2,685,000
Closing costs (~8% of asking)
-$214,800
Est. remaining loan balance
-$370,610
Cash to seller
$2,099,590

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

Seller’s Loan History

Lender

Chase Manhattan Mtg

Loan start date

September 2002

Original loan amount

$800,000

Est. remaining balance

$370,610

Interest rate

6.22%

Loan type

New Conventional, 30 year

Seller

Howell, Ernest & Betty S

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: 10/05/2024 at 9:25 PM

Listing updated: 09/16/2024 at 10:55 AM

Listed by: Taylor Morris, Morris Realty Co., LLC Phone #: (770) 369-5560

MLS: FMLS #7423498

FMLS logo

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