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Liberty 31320 Lake George
1497 Lake Drive
$385,000
● House - Off Market

1497 Lake Drive

Midway, GA 31320
bedrooms
3 Beds
bathrooms
4 Baths
square feet
2,250 Ft²
$2,178
Est. Monthly
$10
HOA / Fees
6.11%
Cap Rate

About This Property

Completely Renovated 3 Bedroom, 3 Bath Waterfront Home Featuring Approximately 2250 Sq Ft With 2 Owner's Suites (1 Up & 1 Down), Huge 23 x 17 Great Room, Large Custom Fully Equipped Eat In Kitchen With Quartz Counters & Stainless Appliances (Incl Refrigerator), Dining Room With Fireplace, Family Room With French Doors To Large Deck & Big Laundry Room. Spa Baths, Wainscoting & Upgraded Finishes Throughout! Large 25 x 10 Deck Overlooking The River & Marsh. Additional 10 x 10 Deck and Big Covered Patio. Detached 20 x 20 Heated & Cooled Studio, Gym, Man Cave Or She Shack. New Dock Walkway To 10 x 10 Dock/Sun Deck & Tie Up. Fantastic Community Amenities Including Saltwater Docks, Boat Hoist & Ramp, Freshwater Docks & Boat Ramps, Community Center, Playground & Basketball Court!  Grass Enhanced In Photos
Unit Size
2,250 Ft²
Days on Market
-
Land Size
0.49 acres
Price per sqft
$178
Property Type
House
Property Taxes
$203
HOA Dues
$10
Year Built
1968

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 2 years ago (GAMLS #10403164)

Price History

Date / Event Date Event Price
Nov 15, 2024 Sold
Premium
Sold
Nov 4, 2024 In contract -
In contract
Oct 28, 2024 Listed by ERA Southeast Coastal $399,900
Listed by ERA Southeast Coastal
Nov 8, 2006 Sold
Premium
Sold

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1968
  • Effective Year Built: 1968
  • Building Count: 2
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 12
  • Building Style: 0
  • Exterior Walls Type: 24
  • Interior Walls Type: 3
  • Roof Shape Type: 1
  • Roof Cover Type: 3
  • Floor Count: 200
  • Floor Cover: 23
  • Basement Type: 5
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 21,344
  • Lot Size Depth Feet: 2,360
  • Lot Size Frontage Feet: 900
  • Total Building Area: 1,968
  • Building Area: 1,968
  • Building Area Measurement: E

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 3
  • Heated Square Feet: 1,968
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 4
  • Water Service: 5

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: C56B-LAKE GEORGE ML
  • Land Acres: 0000000490
  • Standard Land Use Code: 1001
  • County Land Use Code: 001
  • Legal Description 1: LT 9 SEC A 1476 GMD LIMERICK PENINSULA

Neighborhood

  • School District Name: Liberty County School District
  • School Tax School District: COUNTY
  • Census Tract: 010501

Zoning

  • Zoning: R12

Geography

  • Account Number: 5767
  • Section: A
  • Parcel: 260B 155
  • Lot: 9
  • Municipality: COUNTY
  • Latitude: 31.8374
  • Longitude: -81.3709

    Address

  • Full Address: 1497 Lake Dr
  • Address - House Number: 1497
  • Address - Street Name: Lake
  • Address - Suffix Type: Dr
  • State: GA
  • City Name: Midway
  • Carrier Code: R002
  • 4-Digit Zip Code: 6925
  • Zip Code: 31320

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $224,063
  • Tax Rate Code Area: 1

    Appraisal Valuation

  • Standard Deviation: 0.0782
  • Valuation Date: Mar 27, 2024
  • Confidence Score: 94
  • Final Value: 226,694
  • High Value: 244,432
  • Low Value: 208,955

    Market Valuation

  • Market Total Value: $133,672
  • Market Land Value: $38,333
  • Market Improvement Value: $95,339

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $53,469
  • Assessed Land Value: $15,333
  • Assessed Improvements Value: $38,136

    Sales

  • Current Sale Contract Date: Nov 08, 2006
  • Current Sale Recording Date: Nov 08, 2006
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 2006-002933
  • Previous Sale Recording Date: Jun 20, 1967
  • Previous Sale Contract Date: Jun 20, 1967
  • Previous Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Lake George

Stats & Trends

Median Asking:

$250,000

Sale Price/ft²

$138

Below Asking

0.05%

Average Days on Market

76

Average Home Size

603 ft²

Average Home Age

37.3 years

Currently For Sale

3 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

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GAMLS

Listed by: Steven Fischer, ERA Southeast Coastal
Last Updated: 2 years ago
Data Source: GAMLS, MLS# 10403164
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of GAMLS. All real estate listings are marked with the GAMLS Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Copyright 2026 GAMLS. All rights reserved.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 1497 Lake Drive built and last sold?
The property at 1497 Lake Drive was built in 1968 and last sold on Nov 8, 2006 for $130,000.
How much is this home worth?
The estimated value of the home located at 1497 Lake Drive is $403,899.
What are some comparable homes to 1497 Lake Drive?
There are currently no comparable homes to 1497 Lake Drive.
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