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874 Lee Road 191
Auburn, AL 36830
Tori Hite with Coldwell Banker Kpdd, original listing - (706) 256-1000
$3,100,000
Conventional
Property
Bedroom
3
Bathroom
Full: 3, ½: 1
Property Type
Conventional
Square ft
--
Property Description
WELCOME HOME!! To Rolling Ridge Ranch. This 46+ acre, one-of-a-kind ranch/traditional style home is beautifully placed at the end of a 1/4 mile long, paved drive way. As you pull in to the property, you are immediately greeted with 11 total paddocks, with wooden fencing and roughly 3 acres each, throughout the property. They perfectly spaced and all used for partial/pasture boarding, or for other livestock. As you continue driving on to the property, you can look to your left and right and see stunning, fully accommodated, horse boarding barns, lighted full size arena, smaller 60X120 lighted and covered arena with M10 footing, and round working pen. The primary barn has a full kitchen, full bathroom with custom tile shower, and a washer/dryer hook up. It also has a large finished office, feed room, large tack room, office, bathroom, kitchen and hot/cold wash racks. All primary rooms in this barn are central heating and air. Second barn has a large tack room, bathroom, extremely spacious shop space, hay storage room, feed room and a shavings stall and hot/cold wash racks. The second barn has a covered pole barn space nearby to store farm or equine equipment with water/power hookup. The property also offers a 1 bed/1 bath newer and updated manufactured home, withfull kitchen, dining, and living room, primarily used as an AirBnB for supplemental income. It has all newer appliances, roof, and HVAC sysem. The current price for a weekend is $720, with endless potential, as Auburn college is only minutes away & visitors come from all over, all year long! The feedback on the Airbnb is incredible and highly desired! At the end of the driveway you will find the property’s crown jewel: a stunning, custom built and updated, 3500+ sqft home, with custom double full pane cedar front doors. Upon entering the home, you will find a big open dining room, kitchen with an island that can seat 6, great room with massive rock gas fireplace, high ceilings, and a gorgeous custom deer antler chandelier in the center of the room. The house has 3 bedrooms (with the potential for a 4th as that was the original floor plan), 3.5 bathrooms and salt water pool with water fountains. The ample home space allows for a split floor plan, extremely spacious master bedroom with seating area, and a His and Hers style bathroom entirely. The home also includes an office and a den, primarily LVP flooring throughout, with a mix of porcelain tile in the smaller rooms. To add to the seemingly endless of opportunities this property offers, there are a total of 3 barns on the property, all ready for boarders, totaling 21 stalls, and 4 wash bays, that have recently had boarders paying about $1000 per horse. There are a total of 11 total paddocks surrounding the property, which allow for additional pasture and partial boarding. Clients have previously paid $550-$750 per horse. The potential for revenue is almost endless with the boarding, training options, and Airbnb this property offers! Not to mention, there is a wait list of boarders waiting to get in to this property as soon as it sells! The amount of revenue that Rolling Ridge Ranch has would support a fully functioning boarding/training and Airbnb business. Auburn is a very busy city, with a large campus, lots of football games and school events, and a new Buccees right around the corner! Shopping and restaurants are only a 5-10 minute drive making it even more convenient for your next move. This property has the option to be annexed as part of Auburn city lots if desired. Take a look at your new life adventure, waiting for you here in Auburn, AL! You do NOT want to miss this incredible opportunity for a one of a kind home, and a place to call your new equine business, HOME!
Property Information
Lot Size
46 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
2019
MLS Number
--
Location
Address
874 Lee Road 191
City
Auburn
State
AL
Zip Code
36830
County
LEE
Listing
Name
Phone
(706) 256-1000
Office Name
Office Phone
(706) 256-1000
Agent Name
Tori Hite
Agency Phone
(706) 256-1000

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.