tomo logo

$600,000

Beds
5
Baths
4.0
sq ft
2,670

523 W Oak St, Arcadia, FL 34266

523 W Oak St

ARCADIA, FL 34266

  • 20 days on market
**Timeless Elegance with Income Potential in Historic Arcadia** Step into a piece of history with this exquisitely furnished and beautifully restored 1938 bungalow, where vintage charm meets modern convenience. Located in Arcadia’s historic district, this remarkable property offers a rare opportunity for both comfortable living and income generation, just an hour from Florida’s pristine Gulf and Atlantic beaches. Nestled beneath sprawling oak trees draped in Spanish moss, this expansive corner-lot property includes not only the main home but also a separate two-unit rental duplex at the rear. Each unit of the duplex is self-contained, making it an ideal income-producing opportunity for short- or long-term rentals. The main bungalow enchants with its inviting front and back porches, perfect for enjoying tranquil mornings or lively evenings. Relax on the porch swing, host al fresco meals, or gather around the firepit in the backyard for stories under the stars. Inside, the home is thoughtfully adorned with period furnishings, evoking the charm of a bygone era. Modern upgrades include a fully equipped kitchen with stainless steel appliances, central air conditioning, and a convenient laundry room. The two bedrooms and two bathrooms are appointed for comfort, with one bedroom featuring a smart TV for entertainment. The duplex at the rear expands the property’s potential, whether as an income generator or additional accommodations for guests. With its strategic location and unique offerings, the entire property is well-suited for a bed-and-breakfast or as a sought-after Airbnb destination, offering visitors a chance to experience the charm of Old Florida while enjoying modern comforts. Conveniently walkable to Arcadia’s vibrant downtown, with its boutique shops, bakeries, and dining options, this property presents a rare blend of historical allure, functional design, and business potential. Gross rental projections are $60k annually.

Details

Property type

Single Family Residence

Est. home value

$214,410

Lot size

0.31 acres

Price per sq ft

$225

Year built

1938

Annual property taxes

$6,478

HOA

No

Price History

12/03/2024
StellarMLS

StellarMLS #A4631144

Listed
$600,000
+282.17%
04/08/2022
StellarMLS

StellarMLS #C7456322

Sold
$157,000
+137.88%
09/17/2010
StellarMLS

StellarMLS #F1001188

Sold
$66,000

Schools & Community

Elementary school: 

West Elementary School

Middle school: 

DeSoto Middle School

High school: 

DeSoto County High School

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

Fremont Investment & Loan

Loan start date

March 2005

Original loan amount

$195,000

Est. remaining balance

Not provided

Interest rate

7.75%

Loan type

Not Provided, 30 year

Seller

Stanford Abram and Debra Abram

Lender

Len Hazen

Loan start date

December 2004

Original loan amount

$50,000

Est. remaining balance

Not provided

Interest rate

12%

Loan type

Stand Alone Second, 2 year

Seller

Stanford Abram and Debra Abram

Lender

Bay Lending Corp

Loan start date

March 2002

Original loan amount

$142,600

Est. remaining balance

Not provided

Interest rate

6.88%

Loan type

Not Provided

Seller

Stanford Abram and Debra Abram

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: 12/23/2024 at 5:55 AM

Listing updated: 12/04/2024 at 7:54 AM

Listed by: Rex Glasson, DOUGLAS ELLIMAN Phone #: (941) 867-6199

MLS: StellarMLS #A4631144

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