$89,900
298 Cypress Point Circle, Leesburg GA 31763
Leesburg, GA, 31763
3 bd · 2 ba · 1,650 sq ft
Listing Courtesy of: ERA All In One Realty
About this home
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 primary 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 type
- Manufactured Home,Single Family Residence
- Year built
- 1995
- Lot size
- 0.61 ac
- Annual tax
- $542
- MLS #
- 10770204
Recently sold
These are past sales of other homes, not an estimate of this home’s value.
Similar homes in Leesburg
$850,000
1048 Philema Road, Leesburg GA 31763
Leesburg, GA
4 bd · 2 ba · 2,480 sq ft
Est. $4,298/mo · 20% down · 6.5% (illustrative)
Listing Courtesy of: Walden and Kirkland, Inc
$1,115,220
0 Eagle Pond / Old Smithville Road, Leesburg GA 31763
Leesburg, GA
Est. $5,639/mo · 20% down · 6.5% (illustrative)
Listing Courtesy of: Southeastern Outdoors
$4,499,000
144 Fernwood, Leesburg AL 35983
Leesburg, AL
8 bd · 8 ba · 7,777 sq ft
Est. $22,749/mo · 20% down · 6.5% (illustrative)
Listing Courtesy of: Toles, Temple & Wright, Inc.
Georgia MLS (GAMLS)© 2026 Georgia MLS. All rights reserved. Information Deem Reliable But Not Guaranteed