tomo logo

$7,500,000

Beds
5
Baths
3.5
sq ft
Unknown

4900 Spot Rd, Cumming, GA 30040

4900 Spot Rd

Cumming, GA 30040

  • 43 days on market
Developers Dream Project. Possible Owner Financing for a well-qualified Developer. Tenant Occupied, So Don't drive by the property without any prior appointment or Listing agent accompanied. Heaven on Earth! Exploding Cumming Location and landscape could not be more perfect! Absolutely gorgeous views of Sawnee Mountain & only a few miles to downtown Cumming, City Center and the Canton Hwy Expansion project is Underway, which will bring more residents and businesses to the area ! 28.95 Acres of beautiful, fenced land ideal for many uses. Two houses on the property. Both Tenant Occupied and Income producing. One Farmhouse with wrap around porch, features owners suite on main level, Upgraded Master Bath, newly Painted Interiors etc. Saltwater pool, Pool House and 6 Stall Barn round out this stunning property. Primed for developing into to a Modern and upscale, Custom Single-Family Homes Sub-Division. Sewer is Close by and Runs to the Opposite Heirloom Community by Empire Homes. Potential Commercial on the Road Frontage for a Right Commercial Use. Bring your Ideas and Imagination to make this blank canvas into lively neighborhood.

Details

Property type

Single Family Residence

Est. home value

$1,360,742

Lot size

28.95 acres

Price per sq ft

Unknown

Year built

1985

Annual property taxes

$11,292

HOA

No

Price History

10/09/2024
FMLS

FMLS #7468435

Listed
$7,500,000
+614.29%
09/30/2021
FMLS

FMLS #6900550

Sold
$1,050,000
+71.43%
03/04/2016
FMLS

FMLS #5627474

Sold
$612,500

Schools & Community

Elementary school: 

Sawnee

Middle school: 

Otwell

High school: 

Forsyth Central

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

$6,165,888
Asking price
$7,500,000
Closing costs (~8% of asking)
-$600,000
Est. remaining loan balance
-$734,112
Cash to seller
$6,165,888

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

Seller’s Loan History

Lender

Loan Depot Com

Loan start date

September 2021

Original loan amount

$787,500

Est. remaining balance

$734,112

Interest rate

2.87%

Loan type

New Conventional, 30 year

Seller

Venkatredd Tellapurchilkam and Vijay R Chilkamari

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
$6,950,000
4 bd
|
3 ba
|
House

4910 Pisgah Rd, Cumming, GA 30028

Status: Active

Tomo last checked: 11/21/2024 at 11:20 PM

Listing updated: 10/10/2024 at 6:05 AM

Listed by: Vijayendar Garlapati, GVR Realty, LLC. Phone #: (678) 528-1806

MLS: FMLS #7468435

FMLS logo

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