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$465,000

Beds
5
Baths
3.0
sq ft
Unknown

5682 John Burruss Rd, Cumming, GA 30040

5682 John Burruss Rd

Cumming, GA 30040

  • 78 days on market
    • Price drop $60,000↓
Get away from it all. Surrounded by beautiful farm land and only a few miles from Sawnee Mountain Park hiking and Big Creek Greenway trailhead. Minutes from Central Park off GA 400 exit 17. Quick drive to hwy 20 and downtown Cumming, GA and Cumming City Center. Great income opportunity. Live here and let your tenants pay your mortgage. Ranch on basement with +/- 1.75 acres. No HOA. Zoned A1. Income property with upper and lower level rent potential. RV, Boat, Camper parking available. Main suite with private full bath. 2 additional main level bedrooms with hall bath. Full kitchen and two separate living areas. Laundry room, walk-in pantry, and large storage closet. Lower level with 2 bedrooms, full bath, and den / office. Recent property refresh includes new windows, fresh interior paint, newly refinished wood floors, new kitchen countertops, sink, and range, new bedroom windows, new sliding glass doors basement level. Utility room with sink and possible lower level kitchen and laundry. Great private location with close access to GA 400 and HWY 20. Close to Lake Lanier and North Georgia mountains. North Forsyth County residence near Dawson County and Hall County. Previous rental history $1500 per month basement area, $600 for each secondary bedroom with shared bath. Main bedroom suite not rented. RV / camper parking income on upper level of parcel. Plenty of room for your ATV toys and boat. Look for the 5682 John Burrus Road sign near Joyce Lane off John Burruss Road, framed by pasture fencing. Property is at the end of the gravel / dirt road.

Details

Property type

Single Family Residence

Est. home value

$500,903

Lot size

1.75 acres

Price per sq ft

Unknown

Year built

1960

Annual property taxes

$4,071

HOA

No

Price History

10/26/2024
FMLS

FMLS #7450621

Price change
$465,000
-11.43%
09/13/2024
FMLS

FMLS #7450621

Listed
$525,000
09/05/2024
FMLS

FMLS #7450269

Removed
$525,000

Schools & Community

Elementary school: 

Matt

Middle school: 

Liberty - Forsyth

High school: 

North Forsyth

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

$178,901
Asking price
$465,000
Closing costs (~8% of asking)
-$37,200
Est. remaining loan balance
-$248,899
Cash to seller
$178,901

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

Seller’s Loan History

Lender

Prosperity Home Mortgage

Loan start date

October 2020

Original loan amount

$273,600

Est. remaining balance

$248,899

Interest rate

2.93%

Loan type

New Conventional, 30 year

Seller

Matthew J Leeman

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: 11/22/2024 at 5:00 AM

Listing updated: 11/18/2024 at 6:30 AM

Listed by: Tricia Williams, Berkshire Hathaway HomeServices Georgia Properties Phone #: (770) 844-8484

MLS: FMLS #7450621

FMLS logo

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