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$800,000

Beds
5
Baths
5.0
sq ft
4,100

311 Oak Ln, Tool, TX 75143

311 Oak Ln

Tool, TX 75143

  • 3 days on market
Search address on YouTube for walk-through video. Short Term Rental bringing in almost $100,000 a year on Cedar Creek Lake! This rare property on Cedar Creek Lake consists of 12 lots that comprise 3+ gorgeous acres of a beautiful lake community (only voluntary HOA) with lots of trees for added seclusion. You could easily build 2 other cash flowing STRs on this property. Large, FULLY remodeled is perfect for a family retreat or a vacation home - sleeping 15. Furnishings are negotiable to make investment turnkey. Beautiful engineered hardwoods, modern finishes, custom furniture, ample entertainment space, and an open floor plan are perfect for getting away. Amazing lake views from the back balconies, oversized 3 car garage workshop with electric, and a dock. The canal needs some dirt work to utilize the dock. Check out the transaction desk for a list of updates. Any investor wanting an almost 8 percent CAP rate and lake getaway, this is your best bet!

Details

Property type

Single Family Residence

Est. home value

$428,951

Lot size

3.139 acres

Price per sq ft

$196

Year built

1976

Price History

11/08/2024
NTREIS

NTREIS #20768073

Listed
$800,000
05/06/2024
NTREIS

NTREIS #20486033

Removed
02/22/2024
NTREIS

NTREIS #20486033

Price change
$899,000
-5.37%

Schools & Community

Elementary school: 

Southside

Middle school: 

Unknown

High school: 

Mabank

School district: 

Mabank 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

$206,527
Asking price
$800,000
Closing costs (~8% of asking)
-$64,000
Est. remaining loan balance
-$529,473
Cash to seller
$206,527

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

Seller’s Loan History

Lender

American Heritage Lending Inc

Loan start date

November 2022

Original loan amount

$542,500

Est. remaining balance

$529,473

Interest rate

6.29%

Loan type

New Conventional, 30 year

Seller

Tool Oak Ln Llc

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?

Status: Active

Tomo last checked: 11/12/2024 at 4:40 PM

Listing updated: 11/09/2024 at 5:13 AM

Listed by: Evan Downey, EXP REALTY Phone #: (888) 519-7431

MLS: NTREIS #20768073

NTREIS logo

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