tomo logo

$325,000

Beds
2
Baths
2.0
sq ft
Unknown

602 W Lake Ave NW, Atlanta, GA 30318

602 W Lake Ave NW

Atlanta, GA 30318

  • 21 days on market
Hot Opportunity in Grove Park! Tenant just moved out. Near Atlanta Beltline, Marta (Stop out front and short walk to Bankhead Station), Westside Park, Proctor Greenway, and Maddox Park are all within walking distance. Brand new Kipp Woodson Park Academy (K-8) within walking distance. Great lot, home has elegant features that can be enhanced, excellent floorplan, nice yard, and wooden accents. New HVAC and proper maintenance/ improvements to the roof. Current zoning allows for ADU or other Special Purpose. Refresh, repair, and rent or do a major overhaul for a maximum return! The home is approved for 100% financing on a Conventional loan or a $10,000 Grant with Partner Lender United Community Bank. Don’t miss it!

Details

Property type

Single Family Residence

Est. home value

$297,295

Lot size

0.31 acres

Price per sq ft

Unknown

Year built

1930

Annual property taxes

$3,514

HOA

No

Price History

02/03/2025
FMLS

FMLS #7520299

Listed
$325,000
+74.73%
03/27/2020
FMLS

FMLS #6644101

Sold
$186,000
+644%
06/09/2016
FMLS

FMLS #5652287

Sold
$25,000

Schools & Community

Neighborhood: 

Grove Park

Elementary school: 

Woodson Park Academy

Middle school: 

John Lewis Invictus Academy/Harper-Archer

High school: 

Frederick Douglass

Community features: 

Park, Playground, Restaurant, Sidewalks

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

$134,641
Asking price
$325,000
Closing costs (~8% of asking)
-$26,000
Est. remaining loan balance
-$164,359
Cash to seller
$134,641

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

Seller’s Loan History

Lender

Bank Of England

Loan start date

March 2020

Original loan amount

$182,631

Est. remaining balance

$164,359

Interest rate

3.45%

Loan type

FHA, 30 year

Seller

Morgan R Gantt

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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1005 Sims Ave NW, Atlanta, GA 30318

Status: Active

Tomo last checked: 02/23/2025 at 9:55 PM

Listing updated: 02/15/2025 at 5:20 PM

Listed by: Lauren Wilson, Area West Realty, LLC. Phone #: (404) 439-1026

MLS: FMLS #7520299

FMLS logo

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