The property located at 4202 Lake Meadow Way, Louisville, Tennessee may just be one of those incredible real estate opportunities that you are always hoping will come along.
We have all had one of those "I should have purchased that home" experiences. I have personally had many.
My first was a single story ranch in desperate need of a remodel on Star Island in Miami. The home was an incredible price in an incredible location. However, I was 22, more than a little overwhelmed with all that needed to be done and lacked a real understanding of just how good an opportunity the home really was. Foolishly, I let it slip away. A decision I have regretted for more years than I care to admit. One I re-live with every visit to Miami and every drive down McArthur Causeway.
Listed at 719,000 - RARE FIND 3 bed, 5+bath, 5 Acre Estate on the MAIN CHANNEL of Fort Loudoun with YEAR-ROUND WATER! 4635 SF...
So how do you know if a home is a great investment? Certainly, there are are no guarantees, but there are some basic indicators.
The first golden rule of real estate is Location, Location, Location.
The second rule seems to be to look for the worst house in a great neighborhood. In the opening minutes of HGTV's Fixer Upper show with Chip and Joanna Gaines they say just that, they buy the worst house in the best neighborhood.
Rule three is buying at the right price. Comparable sales are a big piece of this puzzle. When you are considering purchasing a home that is in need of a remodel you are making a decision to invest with the intention of adding overall value. Having a good sense of what other homes have sold for and what they are listing for is imperative.
Lastly, listen to your gut. In many cases, it's gut instinct that is the real determination.
This leads me back to the property for sale at 4202 Lake Meadow Way, Louisville, TN.
- Superb location
- Comparable sales much, much higher than this home
- Opportunity for a remodel to add real value
Here are some further details:
Lake Meadow Way (Klein Property subdivision) is an extremely desirable lakefront enclave comprised of fifteen estate sized lots just outside of Knoxville TN. It is in reasonably close proximity to the airport, main highways, downtown and West Knoxville.
How about other homes sales in the neighborhood?
The most recent closed sale in the neighborhood is a 3290 sqft lakefront beauty with 4 bedrooms, 3 baths. This home sold for $1,200,000.
Photo courtesy of Coldwell Banker Nelson
Another closed sale on Lake Meadow Way is an absolute stunner boasting 4 bedrooms, 8 baths and 8,542 sqft. The home sold for $2,280,000.
Photo courtesy of Realty Executives
There are two homes currently on the market for sale in the subdivision:
4184 Lake Meadow Way, Louisville, Tennessee 37777 | Great Life RE Knoxville Area Real Estate For Sale
Masterpiece home on 5 acres with private cove & 1,100 ft. of lake front and dock. Ultimate...
4156 Lake Meadow Way, Louisville, Tennessee 37777 | Great Life RE Knoxville Area Real Estate For Sale
LAKE FRONT LIVING AT IT'S BEST! Enjoy almost 6 AC w/ 414 Feet of Lake Frontage w/Deep Wate...