tomo logo

$2,995,000

Beds
5
Baths
4.5
sq ft
4,434

507 Palmer St, Orlando, FL 32801

507 Palmer St

ORLANDO, FL 32801

  • 1 day on market
Step into your private urban oasis in the historic Lake Cherokee neighborhood, right in the heart of downtown Orlando. Nestled on a full-acre corner lot, this stunning mid-century modern ranch-style home offers the perfect blend of luxury, comfort, and convenience. Just a short walk to the Dr. Phillips Center, Lake Eola, Thornton Park, restaurants, and downtown’s vibrant business district, this one-of-a-kind property offers resort-style living at its finest. This 5-bedroom, 4.5-bath home is surrounded by mature landscaping, including majestic oak trees, making it one of Lake Cherokee’s most beautiful properties. The completely renovated chef’s kitchen features waterfall quartz countertops, an oversized Subzero refrigerator and freezer, a Dacor appliance suite with a 48-inch range, hood, and microwave, plus a Dacor four-bottle wine dispenser, two Subzero refrigerator drawers, and a dual-zone wine fridge—everything you need to entertain in style. For wine enthusiasts, the newly installed 1,300-bottle, temperature-controlled wine cellar with vintage view racks, custom flooring, and lighting sets the stage for unforgettable dinners. A dry bar with a cork countertop and integrated lighting enhances the dining experience. Integrated Sonos speakers throughout the home, including the outdoor living spaces, ensure seamless entertainment inside and out. The home features refinished original hardwood floors, complemented by a beautifully renovated living room with an expansive fireplace, quartz countertops, and built-in media storage. Start each day with serene views of swans gliding across Lake Cherokee from the luxurious primary suite. The suite includes an attached office with a built-in desk, breakfast bar, and expansive his-and-hers walk-in closets. The spa-inspired primary bath boasts a soaking tub, double shower, double vanity, and a Toto smart bidet toilet. The guest bedrooms are generously sized, each with oversized closets, while the remodeled guest bath features marble, granite, and a rain shower. The backyard feels like a secluded retreat, surrounded by mature bamboo. An outdoor kitchen, complete with a grill, ceramic searing burner, double burners, steamer, deep fryer, and wok stations, overlooks the expansive saltwater pool and spa with an outdoor shower and pool bath. The recently updated mother-in-law suite includes new floors, air conditioning, energy-efficient doors, and a gas water heater. A walkout balcony with an extended rooftop deck offers a spectacular view of Lake Cherokee. This home has undergone significant infrastructure upgrades, including complete re-piping, new insulation, outdoor lighting, and a security gate for added privacy and peace of mind. Don’t miss the chance to call this extraordinary property home—where modern luxury meets historic charm, all within walking distance of downtown Orlando’s best offerings. Schedule your private showing today!

Details

Property type

Single Family Residence

Est. home value

$2,188,761

Lot size

1.0 acres

Price per sq ft

$676

Year built

1949

Annual property taxes

$37,941.62

HOA

No

Price History

02/03/2025
StellarMLS

StellarMLS #O6277175

Listed
$2,995,000
+24.79%
06/07/2022
StellarMLS

StellarMLS #O6019632

Sold
$2,400,000
+238.03%
12/22/2015
StellarMLS

StellarMLS #O5397682

Sold
$710,000
-16.08%

Schools & Community

Neighborhood: 

Lake Cherokee

Elementary school: 

Blankner Elem

Middle school: 

Blankner School (K-8)

High school: 

Boone High

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

$1,169,629
Asking price
$2,995,000
Closing costs (~8% of asking)
-$239,600
Est. remaining loan balance
-$1,585,771
Cash to seller
$1,169,629

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 Wholesale Mortgage

Loan start date

June 2022

Original loan amount

$1,650,000

Est. remaining balance

$1,585,771

Interest rate

5.11%

Loan type

New Conventional, 30 year

Seller

Robert David Shimp and Alisa Marie Shimp

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: 02/05/2025 at 9:45 AM

Listing updated: 02/04/2025 at 3:06 PM

Listed by: Carole Waller, PARK PLACE REAL ESTATE Phone #: (407) 504-1110

MLS: StellarMLS #O6277175

StellarMLS logo

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