tomo logo

$515,000

Beds
5
Baths
3.0
sq ft
Unknown

1955 E Lake Dr, Marietta, GA 30066

1955 E Lake Dr

Marietta, GA 30066

  • 43 days on market
Investment Opportunity: Fully Renovated Home with Cash Flow Potential Discover a rare investment opportunity with this stunning, fully renovated home that boasts dual living areas, perfect for maximizing rental income while enjoying your own living space. Located in a vibrant neighborhood, this property is not just a residence but a strategic investment that offers significant cash flow potential. Key Investment Highlights: - **Dual Living Areas:** With separate entrances and fully equipped kitchens on both levels, this home is ideal for multi-generational living or can be easily converted into a dual rental setup. Live in one unit while renting out the other to help offset your mortgage costs. - **Cash Flow Potential:** The flexible layout allows for multiple income-generating options. Rent out the downstairs living area to long-term tenants or consider short-term rentals for additional cash flow, especially given the property’s desirable location. - **Five Bedrooms:** The spacious layout, featuring five well-appointed bedrooms, provides ample room for tenants, making it easy to maximize occupancy and rental income. - **Three Modern Bathrooms:** With three stylish bathrooms, tenant comfort is prioritized, ensuring high demand for rentals in this property. - **New Kitchens and HVAC:** The two brand-new kitchens and efficient HVAC system add significant value, attracting quality tenants who appreciate modern amenities and comfort. - **Location Advantage:** Situated in a sought-after neighborhood with access to schools, parks, and local amenities, this property is poised to attract a wide range of renters, enhancing its investment potential. This property not only serves as a beautiful home but also a smart financial decision. Whether you’re looking to generate passive income or accommodate extended family, this fully renovated home offers the best of both worlds. Schedule a showing today and explore the incredible investment potential that awaits!

Details

Property type

Single Family Residence

Est. home value

$282,630

Property condition

Updated/Remodeled

Lot size

0.60 acres

Price per sq ft

Unknown

Year built

1962

Annual property taxes

$353

HOA

No

Price History

10/12/2024
FMLS

FMLS #7470850

Listed
$515,000
+459.78%
01/07/2014
FMLS

FMLS #5213987

Sold
$92,000

Schools & Community

Elementary school: 

Kincaid

Middle school: 

Daniell

High school: 

Sprayberry

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

$406,310
Asking price
$515,000
Closing costs (~8% of asking)
-$41,200
Est. remaining loan balance
-$67,490
Cash to seller
$406,310

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

Seller’s Loan History

Lender

United Community Mortgage

Loan start date

January 2014

Original loan amount

$87,400

Est. remaining balance

$67,490

Interest rate

4.22%

Loan type

New Conventional, 30 year

Seller

Betty B Rogers

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?

Similar Homes Nearby

FMLS
$499,900
5 bd
|
3.5 ba
|
House

3936 Devonshire Dr, Marietta, GA 30066

Price drop
FMLS
$485,000
5 bd
|
3.5 ba
|
House

2829 Cobb Place Manor Ct, Marietta, GA 30066

Price drop
FMLS
$545,000
5 bd
|
3.5 ba
|
3,864 sq ft
|
House

2339 Milstead Cir NE, Marietta, GA 30066

Status: Active

Tomo last checked: 11/25/2024 at 9:05 AM

Listing updated: 10/13/2024 at 8:06 AM

Listed by: Yadira Cruz, Virtual Properties Realty.com Phone #: (770) 495-5050

MLS: FMLS #7470850

FMLS logo

Recently listed in Marietta