298 Cypress Point Circle Leesburg, GA 31763
Listing Courtesy of: ALBANY GA/SW Georgia - IDX / Listed By: Lacey McCarty, ERA All In One Realty - Contact:  2298886670

  298 Cypress Point Circle Leesburg, GA 31763

Active
$95,000 (USD)
3
BED
2
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 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.

MLS #:
169201
Taxes
$541(2025)
Lot Size
0.61 acres
Type
Mfghome
Year Built
1995
County
Lee County

Listed By

Lacey McCarty, ERA All In One Realty, Contact: 2298886670
Source
ALBANY GA/SW Georgia - IDX
Last checked May 29 2026 at 11:49 PM EDT
Bathroom Details
  • Full Bathrooms: 2
Interior Features
  • Split Floor Plan
  • His & Hers Walk-In Closets
Kitchen
  • Stove/Oven Electric
Subdivision
  • Cypress Point
Lot Information
  • Flood Zone
Property Features
  • Fireplace: Fireplace
  • Foundation: Crawl Space
  • Foundation: Concrete Perimeter
Heating and Cooling
  • Central Electric
Flooring
  • Carpet
  • Vinyl
Exterior Features
  • Roof: Metal
Utility Information
  • Utilities: Electricity Connected
  • Sewer: To Follow
  • Energy: Water Heater: Electric
Parking
  • Other-See Remarks
Stories
  • 1
Living Area
  • 1,650 sqft
Additional Information: ERA All In One Realty | 2298886670
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Disclaimer: Copyright 2026 Albany GA Board of Realtors IDX. All rights reserved. This information is deemed reliable, but not guaranteed. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 5/29/26 16:49