Active

298 Cypress Point Circle

Leesburg, GA 31763

$95,000 $400/Mo

Get Pre-Approved Check your credit

Overview

Bed

Bath

1,650

Sqft

Description

Income-producing waterfront property with upside potential! This tenant-occupied 3BR/2BA home sits on approximately 0.61 acres along Kinchafoonee Creek and currently rents for $850/month to a long-term tenant of approximately 10 years. The current owner has intentionally kept rent below market value in consideration of the tenant's long occupancy, creating an opportunity for future income growth. Seller records reflect approximately $10,200 in annual gross rental income and nearly $9,000 in net operating income over the past year. The spacious floor plan features a large living room with vaulted ceilings and fireplace, an oversized kitchen addition with abundant cabinetry and counter space, a large mudroom/laundry room with separate exterior entrance, and a split-bedroom layout. The primar y suite offers dual walk-in closets, double vanities, a garden tub, and separate shower. Additional features include a huge screened rear porch, covered front porch, concrete skirting, metal roof, and scenic frontage along Kinchafoonee Creek. While the home could benefit from cosmetic updates and some TLC, it presents a compelling value-add opportunity for investors seeking immediate cash flow with future upside. Similar properties in the area may support higher rental rates, particularly after improvements, allowing a new owner to potentially increase cash flow while building long-term equity. Affordable income-producing properties with waterfront features and proven rental history are increasingly difficult to find. Don't miss this opportunity.

Property Details

Property Type : Mobile/Manufactured

Price : $95,000

AD Id : 79067841

MLS Id : 169201

Beds : 3

Living Area Size : 1,650

Year Built : 1995

County : Lee

Subdivision: Cypress Point

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total Bedrooms: 3

Bathroom Information

Full Baths: 2

Water/Sewer

Water Source: To Follow Sewer: To Follow
Room Information

Primary Bath: Separate Shower,Primary Bath: Garden Tub,Primary Bath: Vanity His/Hers,Laundry Room

Interior Features

His & Hers Walk-in Closets,Split Floor Plan Exterior Property Features: Porch Covered Windows: None Property Appliances: Stove/Oven Electric Fireplace: Fireplace
Flooring Information

Vinyl,Carpet

Heating & Cooling

A/C: Central Electric,Water Heater: Electric

Window Information

Window Treatments: None

Building Information

Exterior Wall: Other-See Remarks Year Built: 1995 Block: 10 Building Stories: 1 Fireplace: Fireplace Construction: Other
Exterior Features

Porch Covered
Utility Features

Water: To Follow Sewer: To Follow

Listing Price Information

Original List Price: $95,000
Listing Information

Legal Description: CYPRESS POINT S/D LOT 10

Tax Information

Annual Tax: $541 Tax Year: 2025 Parcel Number: 038 021

Virtual Tour

Virtual Tour (External Link)

Parking Information

Parking Features: Other-See Remarks
Multi-Unit Information

Possible Financing: Cash,Conventional Square Foot Source: Seller Approx Parcel Size: 0.61 Bath: 2 Bedrooms: 3 Unit Block: 10

Fire Place Information

Fire Place: Fireplace
Utility Information

Water:To Follow Sewer:To Follow Utilities:Electricity Connected
Location Information

Area:West Lee Direction: Hwy 19 N from Albany towards Leesburg, Turn left onto Century Rd. Turn Left onto Cypress Point Circle.

Direction Information

Hwy 19 N from Albany towards Leesburg, Turn left onto Century Rd. Turn Left onto Cypress Point Circle.

Sell a home like this and save $5,201 Find out How

How much is this property worth?

Curious about this home's true market value? Use our free Home Evaluation Tool to instantly get a personalized Comparative Market Analysis (CMA) report. Make smarter, data-driven decisions before you buy.

Loading, please wait...

All listings featuring the "Albany GA Area" as the source are provided by "Albany Board of Realtors". This information is not verified for authenticity or accuracy and is not guaranteed.

ByOwner last updated this listing 06/07/2026 @ 09:28

MLS: 169201 LISTED BY: Lacey McCarty, ERA ALL IN ONE REALTY 229-886-9701 SOURCE: Albany Board of Realtors