298 Cypress Point Circle, Leesburg, GA 31763

• 3 beds |
• 2 baths |
• 1,650 sqft

Property 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.

Listing Status:

Active

Date Added:

May 22, 2026

Data Last Updated:

June 24, 2026 at 7:06AM

Listing Office:

ERA All In One Realty : 229-888-6670

Listing Agent:

Lacey McCarty : 229-886-9701

MLS ID:

10770204

Interior

• General: Master On Main LevelSplit Bedroom PlanVaulted Ceiling(s)
• Appliances: Electric Water Heater
• Laundry: Mud Room
• Basement: None
• Flooring: CarpetVinyl
• A/C: Ceiling Fan(s)Central Air
• Heating: Central
• Fireplace: FireplaceFireplaces: 1

Exterior

• Style: Modular Home
• Parking: None

Construction

• Roofing: Metal
• General: OtherOne

Location

• HOA Amenities: None
• Originating MLS: Georgia MLS 2
• County: Lee

Lot

• Zoning: 038 021

Utilities

• Utilities: Water Available
• Water: Public
• Sewer: Public Sewer

Financial

• Source: Georgia MLS 2