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$625,000

Beds
2
Baths
1.0
sq ft
884

2909 E 5th St, Austin, TX 78702

2909 E 5th St

Austin, TX 78702

  • 296 days on market
    • Price drop $25,000↓
Tear Down or Investor's Dream! This fantastic property comes with a lucrative bonus – it's currently occupied by month-to-month tenants, providing you with a steady rental income stream while you navigate the permitting and zoning process with the city for your development plans. Plus, if you're looking to expand your vision, the neighboring property at 2907 E 5th is also available, offering an expansive lot for your development plans. The current zoning, SF-3-NP, opens up a world of possibilities for your project, or you may want to apply for rezoning. Situated in a prime location close to downtown, this opportunity is a rare find. Contact Melissa today to schedule an appointment, as opportunities like this one don't last long. As the buyer, you'll be responsible for conducting your due diligence regarding city permits and zoning verification. This property is being sold as-is, where-is, so don't miss your chance to seize this incredible investment opportunity!

Details

Property type

Single Family Residence

Est. home value

$698,882

Lot size

6,786.65 sq ft

Price per sq ft

$708

Year built

1945

Annual property taxes

$11,427.76

Price History

07/03/2024
Austin

Austin #1495131

Price change
$625,000
-3.85%
06/01/2024
Austin

Austin #1495131

Price change
$650,000
-7.14%
09/15/2023
Austin

Austin #1495131

Listed
$700,000

Schools & Community

Neighborhood: 

Govalle

Elementary school: 

Brooke

Middle school: 

Martin

High school: 

Eastside Early College

Community features: 

None

High school district: 

Austin ISD

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

$545,002
Asking price
$625,000
Closing costs (~8% of asking)
-$50,000
Est. remaining loan balance
-$29,998
Cash to seller
$545,002

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

Seller’s Loan History

Lender

Wells Fargo Bank Na

Loan start date

December 2005

Original loan amount

$50,000

Est. remaining balance

$29,998

Interest rate

6.1%

Loan type

Not Provided, 30 year

Seller

Louis L Ramirez and Louis Ramirez

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: 07/07/2024 at 6:20 PM

Listing updated: 07/03/2024 at 10:32 AM

Listed by: Melissa Mandry, Keller Williams - Lake Travis Phone #: (512) 263-9090

MLS: Austin #1495131

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