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$850,000

Beds
4
Baths
4.5
sq ft
Unknown

7 Alabama St, Cave Spring, GA 30124

7 Alabama St

Cave Spring, GA 30124

  • 11 days on market
A rare once in a lifetime OPPORTUNITY to own one of the most historically significant residences in Northwest Georgia! This incredible home is located in Cave Spring, which is a quaint, Gem of a little town in the foothills of the Appalachian Mountains just 15 minutes Southwest of Rome. Built in 1887 by a Belgian born merchant and former State Rep & Senator, the home was purchased and completely remodeled in 1929 by Dr. J B Rolater. Dr. Rolater became the little town’s greatest benefactor when he donated the land parcel where Rolater Park is located, the sprawling city park contains the Cave and Spring where the city got its name. Just prior to the collapse of the Great Depression this original Queen Anne Style Home was “modernized and updated with stunning Art Deco electric light fixtures, electric ceramic heaters in the fireplaces, central heat from a modern boiler system and radiators” many of which are still operational and, in the home, today. The front vestibule opens up to the breathtaking entryway, where the first thing to notice are the gleaming Maple hardwood floors! This incredible flooring is carried on throughout the home, and in most areas is highlighted with rich Mahogany Trim work and solid Mahogany doors. The entire home is bathed in natural light with floor to ceiling original windows. The downstairs living area is anchored by an exquisite fireplace built of an almost iridescent stonework shipped from the Rolater’s previous place of residence, Oklahoma. This fireplace has the fully operational circa 1920’s electric heater that still warms to a glowing orange hue. This masonry work is repeated on the fireplace in the formal dining room, with the original 1929 art deco chandelier serving as the centerpiece of the room. The adjacent butler pantry serves as a very functional additional storage area with the original cabinetry. There is a cozy space across the hall that serves as the current owner’s home office and is an ideal spot for the “work from home” professional. The “heart” of the home is appointed with professional grade stainless steel appliances and gleaming white cabinetry providing all the conveniences of modern kitchens, but with the original built-in shelving, exposed brickwork, and the 100+ year old hardwood floors the kitchen maintains all of the character and charm of the rest of the house. Don’t miss the little doorway over in the corner of the kitchen…behind this door is the “back” stairwell to the second floor! Also located on the main floor is an additional large pantry, just off the kitchen and the back entry to the home is the laundry room with a convenient half bath. Wind your way up the magnificent front staircase to the 4 bedrooms on the 2nd floor, each has its own full bathroom, all of which still have the tile work and fixtures from the early 20th century “upgrades”. Just off the Master Bedroom over the porte-cochere is an incredible room that is ideal for an upstairs family room! After all of this take the time to stroll back out onto the enormous front porch and start to take in the incredible setting of this magnificent home. The home is situated on a 1.35 Acre lot with a formal garden, soaring specimen trees of Magnolia, Chestnut, Oak, Gingko, and evergreens. 2 Car detached Garage w/ office space, additional outbuilding for your mowers and toys! All of this just steps away from the city center with antique shops, boutiques, pub and one of the most renowned restaurants in this part of the state. Then take a walk over to the Park with the Crystal Clear Spring emanating from the cave still serves as a water source for many of the residents and its 2 million gallons of water fills the largest pool in the State! Don’t miss this incredible opportunity!

Details

Property type

Single Family Residence

Est. home value

$596,118

Property condition

Updated/Remodeled

Lot size

1.35 acres

Price per sq ft

Unknown

Year built

1878

Annual property taxes

$5,698

HOA

No

Price History

12/11/2024
FMLS

FMLS #7492615

Listed
$850,000
-10.53%
09/01/2024
GeorgiaMLS

GeorgiaMLS #10270303

Removed
$950,000
08/30/2024
GeorgiaMLS

GeorgiaMLS #10270303

Removed
$950,000

Schools & Community

Elementary school: 

Pepperell

Middle school: 

Coosa

High school: 

Coosa

Community features: 

Sidewalks, Street Lights

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

$729,698
Asking price
$850,000
Closing costs (~8% of asking)
-$68,000
Est. remaining loan balance
-$52,302
Cash to seller
$729,698

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

Seller’s Loan History

Lender

American Commerce Bank

Loan start date

February 2024

Original loan amount

$305,289

Est. remaining balance

$52,302

Interest rate

6.67%

Loan type

New Conventional, 1 year

Seller

Angela Abbott Cowart and Dennis Lee Cowart

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: 12/23/2024 at 10:40 AM

Listing updated: 12/19/2024 at 3:28 AM

Listed by: Pete Ewing, Keystone Realty Group, LLC. Phone #: (678) 932-2105

MLS: FMLS #7492615

FMLS logo

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