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A rare opportunity ON THE LAKE in the beautiful Stone Mountain community of Waters Edge! This expansive, over 5000 sq ft lakefront home, offers incredible potential for the right buyer. Priced at $325,000, the property is being sold AS-IS and will require a full renovation, but the space, layout, and location are impressive. With an estimated $150-175K in renovation costs, the potential After Repair Value (ARV) is ~$600K, based on the most recent sales of turn key lakefront homes in the community-an excellent opportunity to build equity with your investment! Waters Edge homeowners enjoy access to a 140 acre lake, clubhouse, tennis and pickleball courts, playgrounds, pools, fitness center, walking trails, and more-all within a picturesque, tree-lined setting. See the floor plan provided for a visual. The home features a great layout for families, entertaining or empty nesters, including a main-level owner's suite with a large bathroom and walk-in closet-ready for your vision to turn it into your own sanctuary! The main living level also includes a separate guest bedroom and bath, a spacious living room with soaring ceilings and natural light, separate dining room, and a centered kitchen with breakfast area overlooking a large fireside family room with lake views, open to a rear deck. The walk-out daylight basement features a large rec room, bedroom, full bath, and additional unfinished space, including a side boat garage, offering a multitude of options for storage or additional space needs! Upstairs, the second level features three additional bedrooms, a full bath, and a bonus/flex space open to below. You will also enjoy the convenience of a 2-car attached garage and mudroom leading to the kitchen. Situated on a gently sloping, sunny lot leading to your dock, this lake front home provides serene and sparkling sunset views with direct access to the water. Waters Edge is located just minutes from Stone Mountain Park, offering residents easy access to all the outdoor activities, amenities, events, and recreation this iconic park has to offer, along with convenient access to shopping, dining and retail in the Stone Mountain area. NOTE: This property will require Cash or a Renovation Loan. We can connect you with reliable professionals and local lenders who can help make your dream home a reality with various renovation financing options. Don't miss this chance to live on the lake in one of Stone Mountain's most desirable communities! *NO BLIND OFFERS* OFFER DEADLINE: MONDAY, JUNE 9th @ 5:00 PM EST*
| DAYS ON MARKET | 4 | LAST UPDATED | 6/4/2025 |
|---|---|---|---|
| TRACT | Waters Edge | YEAR BUILT | 1988 |
| GARAGE SPACES | 2.0 | COUNTY | DeKalb |
| STATUS | Active | PROPERTY TYPE(S) | Single Family |
| Elementary School | Princeton |
|---|---|
| Jr. High School | Stephenson |
| High School | Stephenson |
| ADDITIONAL DETAILS | |
| AIR | Ceiling Fan(s), Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Microwave , Refrigerator, Stainless Steel Appliance(s) |
| BASEMENT | Concrete, Daylight, Exterior Entry, Finished , Full, Interior Entry, Unfinished, Yes |
| CONSTRUCTION | Stone, Stucco, Wood Siding |
| EXTERIOR | Dock, Garden |
| FIREPLACE | Yes |
| GARAGE | Yes |
| HEAT | Central, Natural Gas |
| HOA DUES | 1136|Annually |
| INTERIOR | Bookcases, Double Vanity, Entrance Foyer, High Ceilings, Kitchen Island, Master Downstairs, Pantry, Vaulted Ceiling(s), Walk-In Closet(s) |
| LOT | 0.38 acre(s) |
| LOT DESCRIPTION | Cul-De-Sac, Private |
| PARKING | Attached, Garage, Garage Door Opener, Kitchen Level, Off Street |
| SEWER | Public Sewer |
| STORIES | 3+ |
| STYLE | European, Traditional |
| SUBDIVISION | Waters Edge |
| TAXES | 838 |
| UTILITIES | Cable Available, Electricity Available, Natural Gas Available, Sewer Connected, Water Available |
| VIEW | Yes |
| VIEW DESCRIPTION | Lake |
| WATER | Public |
| WATER ACCESS | OTHER |
| WATERFRONT | Yes |
| WATERFRONT DESCRIPTION | Lake Front, Lake |
MORTGAGE CALCULATOR
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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 2025 GAMLS. All rights reserved.
This IDX solution is (c) Diverse Solutions 2025.
