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Situated on over 2 private acres, 205 Gilmer Rd offers great opportunity to realize your dream! The current home is positioned to the side of the lot allowing for maximum privacy, or the opportunity to split the acreage for sale, use it for residual income, or develop it for a new home. Located near Broadway Lake, you’ll enjoy easy access to boating, fishing, swimming, and public entry at McFalls Landing. The property is also eligible for a USDA Rural Housing Loan, offering potential financing advantages! The level yard is surrounded by mature trees and wooded privacy, creating a peaceful setting. Outdoor features include covered sitting areas, an open Deck perfect for sunning, a firepit, and a large yard with a storage shed. With no HOA restrictions, you are free to create your own outdoor oasis or recreation area! The home is double-wide on a permanent foundation and includes recent updates such as new gutters in 2021 and the septic system pumped in 2023. Inside, the spacious Family Room features wood floors, a vaulted ceiling, and a masonry fireplace with an ornate mantle. The galley Kitchen comes fully equipped with appliances, including a new refrigerator, along with stylish cabinetry and a Mediterranean-inspired backsplash. The Dining Room is accented with chair rail molding and beadboard detail. The split floor plan provides privacy, with an Owner’s Suite featuring upgraded flooring, a ceiling fan, dual sink vanity, and a relaxing garden tub. Two additional Bedrooms are located on the opposite side of the home and share a Hall Bath currently mid-renovation and ready for your personal finishing touch with a tub or shower installation. Completing the floorplan is a dedicated Laundry with a washer and dryer that remains! This property is being sold as-is, presenting a great opportunity to customize and add value while enjoying acreage, privacy, and proximity to the lake. Call now to schedule your own walk of this great property!
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Our Executive Mortgage Banker:
$189,900
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $151,920 | $151,920 | $151,920 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.250% | 6.625% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.609% | 6.776% | 6.078% |
| Monthly Tax Payment | $78 | $78 | $78 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $935 | $973 | $1,272 |
| Total Monthly Payment | $1,088 | $1,126 | $1,425 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.