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$425,000

Beds
3
Baths
3.5
sq ft
1,696

556 Cherry Lake Dr, Blue Ridge, GA 30513

556 Cherry Lake Dr

Blue Ridge, GA 30513

  • 87 days on market
    • Price drop $34,000↓
This exceptional 3-bedroom, 2-bathroom short term rental in the sought-after Cherry Lake community presents a lucrative investment opportunity. Situated against the breathtaking backdrop of the Blue Ridge Mountains, this property boasts a consistent rental history, making it a valuable addition to any investor's portfolio. The home's design maximizes its natural surroundings, with expansive windows framing panoramic views and an outdoor deck that beckons relaxation and enjoyment. Inside, the main level exudes charm with 2 bedrooms, 1 bath, and a spacious great room featuring cathedral ceilings that blend rustic wood and contemporary drywall seamlessly. For added privacy and versatility, the finished basement offers an additional bedroom and full bath, catering to guests or older children. Fully furnished and complete with a separate workshop/storage shed, this property caters to tenants seeking both comfort and outdoor recreation. Conveniently located with easy access to paved roads and high-speed internet, this investment property merges the tranquility of nature with modern amenities. Don't miss out on this opportunity to capitalize on a consistently rented, high-demand rental in Cherry Lake - a great choice for the discerning investor.

Details

Property type

Cabin

Est. home value

$418,585

Lot size

1.10 acres

Price per sq ft

$251

Year built

1994

Annual property taxes

$2,568.7

Monthly HOA fee

$25

Price History

09/28/2024
GeorgiaMLS

GeorgiaMLS #10366553

Listed
$425,000
09/22/2024
GeorgiaMLS

GeorgiaMLS #10366553

Removed
$425,000
09/20/2024
GeorgiaMLS

GeorgiaMLS #10366553

Price change
$425,000
-7.41%

Schools & Community

Elementary school: 

Ellijay Primary/Elementary

Middle school: 

Clear Creek

High school: 

Gilmer

Community features: 

None

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

$110,464
Asking price
$425,000
Closing costs (~8% of asking)
-$34,000
Est. remaining loan balance
-$280,536
Cash to seller
$110,464

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

Seller’s Loan History

Lender

Np

Loan start date

January 2022

Original loan amount

$298,400

Est. remaining balance

$280,536

Interest rate

3.1%

Loan type

New Conventional, 30 year

Seller

Vamsam Sb 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?

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Status: Active

Tomo last checked: 11/23/2024 at 12:25 AM

Listing updated: 10/10/2024 at 4:02 PM

Listed by: Heather Foresman, Engel & V?lkers North GA Mountains

MLS: GeorgiaMLS #10366553

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