tomo logo

$896,805Estimated home value

Beds
4
Baths
4.5
sq ft
2,830

5685 Mercedes Dr, Cumming, GA 30041

5685 Mercedes Dr

Cumming, GA 30041

  • Sold On 8/7/2024
    • Price drop $15,000↓
Welcome to your lakeside paradise nestled on the serene shores of Lake Lanier. This stunning newer build (2018) offers the perfect blend of modern luxury and waterfront living. Boasting four bedrooms, four and a half bathrooms, and a spacious 2-car garage, this home is designed for comfort and convenience. Step inside to discover an inviting interior filled with natural light and elegant finishes. The main level features an open-concept layout, ideal for entertaining guests or relaxing with family. Whip up gourmet meals in the well-appointed kitchen, complete with sleek appliances and ample quartz counter space. Step outside to the expansive deck, where you can soak in breathtaking views of nature with a short walk to the lake. Downstairs, the finished basement offers even more living space, including a kitchen area for added convenience. Outdoor enthusiasts will love the single slip boat dock, perfect for storing your watercraft, along with space for two jet skis. Whether you're fishing, boating, or simply enjoying the 683 sq ft party dock, Lake Lanier is right at your doorstep. Conveniently located near Cumming, Roswell, and Alpharetta, you'll have easy access to shopping, dining, and entertainment options. Plus, with attractions like Pelican Pete's and Lake Lanier Islands just a stone's throw away, adventure is always within reach. Don't miss your chance to experience lakeside living at its finest.

Details

Property type

Single Family Residence

Est. home value

$896,805

Lot size

0.24 acres

Price per sq ft

$336

Year built

2018

Annual property taxes

$7,161

Price History

08/06/2024
FMLS

FMLS #7357246

Sold
$910,000
-4.21%
07/09/2024
FMLS

FMLS #7357246

Pending
$950,000
06/11/2024
FMLS

FMLS #7357246

Price change
$950,000
-1.55%

Schools & Community

Elementary school: 

Cumming

Middle school: 

Otwell

High school: 

Forsyth Central

Community features: 

Lake

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

$486,071
Asking price
$950,000
Closing costs (~8% of asking)
-$76,000
Est. remaining loan balance
-$387,929
Cash to seller
$486,071

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

Seller’s Loan History

Lender

Angel Oak Home Loans

Loan start date

June 2018

Original loan amount

$438,000

Est. remaining balance

$387,929

Interest rate

4.47%

Loan type

New Conventional, 30 year

Seller

Michael P Carnahan

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: Off Market

Tomo last checked: 10/04/2024 at 11:05 PM

Listing updated: 08/07/2024 at 8:38 PM

Listed by: Shannon L Williams, Keller Williams Realty Intown ATL Phone #: (404) 541-3500

MLS: FMLS #7357246

FMLS logo

Recently listed in Cumming

$419,000|3 bd|2.5 ba|House
$635,000|5 bd|3.0 ba|House
$615,000|5 bd|2.5 ba|House
$1,250,000|6 bd|5.0 ba|House
$1,249,000|5 bd|6.5 ba|House
$650,000|5 bd|3.5 ba|House
$1,325,000|3 bd|2.0 ba|House
$699,000|4 bd|3.5 ba|House