2290 Rainbow Lake Road, Inman, SC 29349

$800,000
4
BD
2
BA
2,400
SqFt
Sold Price
$800,000
List Price
$889,000
Closing Date
Jun 24, 2019
MLS
1392177
Status
SOLD
Beds
4
Full-baths
2
Style
Ranch
County
Spartanburg
Neighborhood
Other
Type
Single Family Residential
Stories
1+Basement

Property Description

72 Acre Waterfront Estate Home Parcel or Development Site Amazing property with 72 Acres on the South Pacolet River with over 3,000 feet of water Frontage just below Lake Bowen. Great opportunity for a developer to create Estate size Waterfront Lot Subdivision with great water views and very close to booming Boiling Springs, SC. Property has very nice Topo. Part of the property has been cleared but there still is probably 1/2 in Timber that could be harvested for income. This property is located across from Timberlake subdivision and properties in that subdivision typically don't stay on the market long when offered for sale. Public water is to the site. Keep this amazing property as a whole for an estate size Farm, with this mid century architecturally inspired 4 bedroom home (2,400 square feet) that just needs you personal touch to update it. According to a recent appraisal land comps on the river have sold for around $15,100 per acre. Another land comp close by that was NOT on the water for over $12,187 per acre. Spartanburg County, SC Parcel ID: 1-23-00-038.00 Turkey and Deer are plentiful on the property. The house with just 8 Acres just appraised for $300,000 recently. 64 Acres times $15,000 per acre equals $960,000 in value. That would be a possible value of $1,260,000 PRICE for this whole 72 Acre Estate Parcel and Home SOLD as IS- $899,000

Additional Information

Acres
72
Age
31-50
Appliances
Oven-Electric, Stand Alone Rng-Smooth Tp
Basement
Unfinished, Walkout
Condo Regime Includes
None
Cooling System
Central Forced, Electric
Driveway
Paved
Elementary School
Boilings Spring
Exterior
Wood
Exterior Features
Patio, Porch-Other, Porch-Wrap Around
Fireplace
Wood Burning Fireplace, Masonry
Floors
Ceramic Tile, Hardwood
Foundation
Slab
Heating System
Electric, Forced Air
High School
Boiling Springs
Interior Features
Ceiling 9ft+
Living Area Range
2400-2599
Lot Description
Lake, Sloped Gently, Some Trees, Water Front, Water View
Master Bedroom Features
Full Bath, Master on Main Lvl, Tub/Shower
Middle School
Rainbow Lake
Region
033
Roof
Composition Shingle
Sewer
Septic
Specialty Room
Other
Storage Space
Other
Stories
1+Basement
Style
Ranch
Subdivision
Other
Water
Public
Water Heater
Electric

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of New City Development & Realty. Selling Office: Non MLS.

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