tomo logo

$725,000

Beds
4
Baths
2.0
sq ft
1,890

550 County Road 262, Mico, TX 78056

550 County Road 262

Mico, TX 78056

  • 207 days on market
    • Price drop $125,000↓
Welcome to your dream waterfront retreat - an exceptional turnkey short-term rental investment. This stunning home, Nestled on a sprawling 2.057-acre 'park-like' setting, offers unparalleled tranquility and immediate rental income potential or your dream home. Step into the spacious living room, featuring a majestic rock fireplace and abundant natural light, creating a warm and inviting ambiance ideal for guest enjoyment. The modern kitchen boasts granite countertops and new wood-like flooring, providing functionality and comfort for preparing meals. Upstairs, four serene bedrooms offer a restful retreat, complemented by a full bath with charming accents. The primary bedroom opens to a sprawling deck with breathtaking views of the hill country and lake, perfect for morning coffee or evening relaxation. Outdoor entertainment is a highlight, with a covered concrete patio, a large entertaining patio, and a full-bath shower house for added convenience. The two-story dock with a boat lift is a boater's paradise, recently renovated with Bluetooth capabilities, ensuring endless days of waterfront fun. Additional features enhancing the property's appeal include a storage shed, gated entry for added privacy, recent upgrades such as new flooring, a state-of-the-art water filtration system with water storage, and updated electrical systems. This turnkey waterfront gem is a 'must-see' investment that exceeds expectations at every turn. This property is poised to deliver substantial returns whether you own to rent or own to make your own. See the extensive list of upgrades attached and seize this unparalleled investment opportunity.

Details

Property type

Single Family Residence

Est. home value

$871,567

Lot size

2.06 acres

Price per sq ft

$384

Year built

1935

Annual property taxes

$7,795

Price History

11/08/2024
SanAntonio

SanAntonio #1770989

Price change
$725,000
-14.71%
04/30/2024
SanAntonio

SanAntonio #1770989

Listed
$850,000

Schools & Community

Elementary school: 

Medina

Middle school: 

Loma Alta

High school: 

Medina

School district: 

Medina Valley I.S.D.

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

$31,107
Asking price
$725,000
Closing costs (~8% of asking)
-$58,000
Est. remaining loan balance
-$635,893
Cash to seller
$31,107

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

Seller’s Loan History

Lender

Extraco Banks Na

Loan start date

February 2022

Original loan amount

$675,000

Est. remaining balance

$635,893

Interest rate

3.11%

Loan type

New Conventional, 30 year

Seller

Cody James Covington and Lauren Covington

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: 11/23/2024 at 3:25 AM

Listing updated: 11/19/2024 at 2:21 AM

Listed by: Cynthia McGee, Magnolia Realty Phone #: (830) 885-5337

MLS: SanAntonio #1770989

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