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$1,250,000

Beds
4
Baths
3.0
sq ft
1,890

261 Summa St, West Palm Beach, FL 33405

261 Summa St

West Palm Beach, FL 33405

  • 80 days on market
    • Price drop $45,000↓
Great location for new construction on one of the Southend neighborhood's favorite streets! This 72' x 100' property is on Summa Street and this block is blossoming with new construction projects and everyone loves the little inland beach at the end of the street on the Intracoastal Waterway. Owner has prepared CAD drawings for a two story modern home to be built here but the possibilities are endless as there are no historic restrictions here.Property is being sold as a lot, but there is an existing structure here that will need to be taken down prior to new construction. Since the property is being sold for land value, the seller has requested no interior viewings of the existing home without a signed contract.

Details

Property type

Single Family Residence

Est. home value

$1,192,550

Lot size

7,248 sq ft

Price per sq ft

$662

Year built

1957

Annual property taxes

$11,602

HOA

Yes

Price History

12/18/2024
Beaches

Beaches #R11026023

Price change
$1,250,000
-3.47%
10/03/2024
Beaches

Beaches #R11026023

Listed
$1,295,000
+56.97%
03/19/2024
Beaches

Beaches #R10855938

Sold
$825,000
-13.16%

Schools & Community

Neighborhood: 

South Side

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Tennis Court(s)

Seller’s Loan History

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

Lender

First Magnus Financial Corp

Loan start date

September 2006

Original loan amount

$333,200

Est. remaining balance

Not provided

Interest rate

2.25%

Loan type

Negative Amortization, 30 year

Seller

Kevin Walters

Lender

First Magnus Financial Corp

Loan start date

September 2006

Original loan amount

$95,200

Est. remaining balance

Not provided

Interest rate

6.8%

Loan type

Credit Line (Revolving)

Seller

Kevin Walters

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 10:10 AM

Listing updated: 12/18/2024 at 11:56 AM

Listed by: Jefferson Kiely, Kiely Real Estate, LLC Phone #: (561) 655-1300

MLS: Beaches #R11026023

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