$410,000
SOLD FEB 5, 2026
Last list price

198 Lorman Ln Madison, MS 39110

3 Beds
2 Baths
2,271 Sq Ft
58,806 Sq Ft Lot

Recently Sold

$181 Per Sq Ft

15 Days on Market

Highlights

  • Boating
  • Fishing
  • Clubhouse
  • Madison Station Elementary School Rated A
  • Waterfront
  • Deck

About This Home

As of February 2026

Rare waterfront opportunity in the highly desired Lake Lorman community of Madison. This property sits directly on the water and includes a separately deeded, vacant waterfront lot, offering exceptional value, flexibility, and future potential. The home is not turn-key and will require renovations, making it ideal for buyers looking to customize, invest, or add equity in a premier lake setting. Major improvements are already in place, including a new roof and new HVAC system, providing a strong foundation for future updates. Whether you envision a full renovation, weekend lake retreat, or long-term investment, this property offers hard-to-find double waterfront ownership in one of Madison's most sought-after lake communities. Endless possibilities—bring your vision and make it your own.

Last Agent to Sell the Property

Barry Woodward

Woodward Real Estate, Inc License #B14270 Listed on: 01/13/2026

Last Buyer's Agent

Barry Woodward

Woodward Real Estate, Inc License #B14270 Listed on: 01/13/2026

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $552

Year Built

  • Built in 1972

Lot Details

  • 1.35 Acre Lot
  • Waterfront
  • Wooded Lot

HOA Fees

  • $63 Monthly HOA Fees

Parking

  • 2 Carport Spaces

Home Design

  • Asphalt Shingled Roof
  • Architectural Shingle Roof

Interior Spaces

  • 2,271 Sq Ft Home
  • 1-Story Property
  • Fireplace
  • Aluminum Window Frames
  • Fire and Smoke Detector
  • Property Views

Kitchen

  • Electric Oven
  • Cooktop
  • Disposal

Flooring

  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Full Bathrooms

Outdoor Features

  • Deck

Schools

  • Madison Station Elementary School
  • Madison County Middle School
  • Madison Central High School

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Assessor Parcel Number 071c-06a-057-00-00

Community Details

Overview

  • Association fees include accounting/legal, ground maintenance, insurance
  • Lake Lorman Subdivision

Amenities

  • Clubhouse

Recreation

  • Boating
  • Fishing

Home Details

Home Type

Single Family

Est. Annual Taxes

$552

Year Built

Built in 1972

Lot Details

1.35 Acres

HOA Fees

$63 per month

Listing Details

  • Unit Levels: One
  • Property Sub Type: Single Family Residence
  • Prop. Type: Residential
  • Structure Type: House
  • Year Built: 1972
  • Lot Size Acres: 1.35
  • Subdivision Name: Lake Lorman
  • Directions: Lakeshore Drive right on Lorman Lane
  • New Construction: No
  • General Property Information:List PriceSqFt: 180.54
  • Special Features: VirtualTour

Interior Features

  • AtticFeaturesAttic: No
  • BasementFeaturesBasement: No
  • Full Bathrooms: 2
  • Total Bedrooms: 3
  • Flooring: Carpet, Laminate
  • Window Features: Aluminum Frames
  • Fireplace: Yes
  • Appliances: Cooktop, Disposal, Electric Oven
  • Bathroom Features: 5 Foot Tub, Walk-In Shower
  • Door Features: French Doors, Sliding Doors
  • Fireplace Features: Gas Log, Great Room, Masonry, Wood Burning

Exterior Features

  • Lot Features: Wooded, Views
  • Roof: Architectural Shingles, Asphalt Shingle
  • Patio And Porch Features: Deck
  • WaterfrontFeaturesWaterfront: Yes
  • Pool Private: No
  • Waterfront: Yes
  • General Property Information:Accessibility Features: No
  • Foundation Details: Slab

Garage/Parking

  • Carport Spaces: 2.0
  • Attached Garage: No
  • Parking Features: Carport

Utilities

  • Sewer: Public Sewer
  • Water Source: Public
  • Security: Smoke Detector(s)
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Cooling: Electric
  • Utilities: Electricity Connected, Natural Gas Available, Fiber to the House
  • Laundry Features: In Kitchen
  • Water Heater: Natural Gas

Condo/Co-op/Association

  • Association Fee: 750.0
  • Association Fee Frequency: Annually
  • Community Features: Boating, Clubhouse, Fishing

Association/Amenities

  • HorseAmenitiesHorseAmenities: No

Fee Information

  • Association Fee Includes: Accounting/Legal, Maintenance Grounds, Insurance

Schools

  • Elementary School: Madison Station
  • High School: Madison Central
  • Middle Or Junior School: Madison County
  • Junior High Dist: Madison CO Dist

Lot Info

  • Parcel #: 071c-06a-057-00-00
  • Lot Size Sq Ft: 58806.0

Tax Info

  • Tax Annual Amount: 552.0
  • Tax Year: 2024

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 13, 2026
Closed on
Feb 3, 2026
Sold by
Pankratz Josh
Bought by
Carmody Stephen J and Carmody Rowena B
Seller's Agent
Barry Woodward
Woodward Real Estate, Inc
Buyer's Agent
Barry Woodward
Woodward Real Estate, Inc
List Price
$410,000
Views
42

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
45.15%

Purchase Details

Closed on
Oct 20, 2025
Sold by
Smith Betty
Bought by
Pankratz Josh

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$222,750
Interest Rate
6.5%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Purchase History

Date Type Sale Price Title Company
Warranty Deed -- Covenant Title Company
Executors Deed -- First Guaranty Title
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $222,750 New Conventional
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/05/2026 02/05/26 Sold -- -- --
01/13/2026 01/13/26 For Sale $410,000 -- $181 / Sq Ft
Source: MLS United

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $2,427 $23,268 $0 $0
2024 $552 $15,512 $0 $0
2023 $552 $15,512 $0 $0
2022 $541 $15,512 $0 $0
2021 $541 $15,108 $0 $0
2020 $541 $15,108 $0 $0
2019 $541 $13,008 $0 $0
2018 $541 $13,008 $0 $0
2017 $525 $12,845 $0 $0
2016 $504 $12,845 $0 $0
2015 $504 $12,845 $0 $0
2014 $498 $12,776 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2026

    Barry Woodward

    Woodward Real Estate, Inc

    (601) 941-5190

    10 Total Sales

    Barry Woodward
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Map

Source: MLS United

MLS Number: 4135936

MLS United

APN: 071C-06A-057-00-00

Mississippi Madison County Madison 39110

198 Lorman Ln, Madison, MS

Sold

Detached

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MLS United Information is deemed to be reliable but not guaranteed. Copyright 2026 MLS United, LLC.

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