NOT LISTED FOR SALE

285 Thompson Gap Rd Cherokee, AL 35616

Estimated Value: $347,000 - $612,000

4 Beds
2 Baths
1,800-1,999 Sq Ft
$266/Sq Ft Est. Value

Last Sold November 27, 2024

Last sale price $575,000 $288 Per Sq Ft

Est. 8% decrease in value since last sale

Current estimated payment $2,842/month

227 Days on Market

Highlights

  • Docks
  • Waterfront
  • Traditional Architecture
  • Lake On Lot
  • Deck
  • Separate Formal Living Room

About This Home

As of November 2024

4BR, 2BA Waterfront resort home with beautiful views of Pickwick Lake overlooking Bear Creek and convenient to Iuka. Semi-private location with upper and lower decks, paved parking, very nice floorplan and great location on the water.

Last Agent to Sell the Property

Derrick Tapp - Pickwick Lake

Tapp Realty, LLC License #311367 Listed on: 04/13/2024

Last Buyer's Agent

Duane Wright

Duane Wright Realty License #318263

Home Details

Home Type

  • Single Family

Year Built

  • Built in 1980

Lot Details

  • Waterfront
  • Few Trees

Parking

  • Driveway

Home Design

  • Traditional Architecture

Interior Spaces

  • 1,800-1,999 Sq Ft Home
  • 1,900 Sq Ft Home
  • 2-Story Property
  • Separate Formal Living Room
  • Storage Room
  • Tile Flooring
  • Water Views

Bedrooms and Bathrooms

  • 4 Bedrooms | 2 Main Level Bedrooms
  • 2 Full Bathrooms

Outdoor Features

  • Water Access
  • Docks
  • Lake On Lot
  • Deck
  • Patio
  • Porch

Utilities

  • Central Heating and Cooling System

Community Details

  • Thompson Gap Subdivision

Home Details

Home Type

Single Family

Year Built

Built in 1980

Lot Details

0

Listing Details

  • Class: Residential
  • Type: Detached Single Family
  • Style: Traditional
  • Detached Unit Type: General Residential
  • MAAR Subdivision Name: Thompson Gap
  • Number Of Stories: 2
  • Prop Construction Status: Existing Property
  • Estimated Sq Ft: 1900
  • Year Built: 1980
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 2

Interior Features

  • Estimated Heated Sq Ft Range: 1800-1999
  • Bedrooms: 4
  • Bedrooms Down: 2
  • Floors/Ceilings: Tile
  • Full Bathrooms: 2
  • Living Dining Kitchen: Separate Living Room

Exterior Features

  • Misc Exterior: Porch, Patio, Deck, Boat Dock

Garage/Parking

  • Parking Storage: Driveway/Pad, Storage Room(s)

Utilities

  • Cooling: Central
  • Heating: Central

Lot Info

  • Lot Description: Some Trees, Lake/Pond on Property, Water Frontage, Water View, Water Access
  • Geo Subdivision: AL

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 13, 2024
Closed on
Nov 21, 2024
Sold by
Smith Kirby L and Smith Priscilla
Bought by
Ward John
Seller's Agent
Derrick Tapp - Pickwick Lake
Tapp Realty, LLC
Buyer's Agent
Duane Wright
Duane Wright Realty
List Price
$649,000
Sold Price
$575,000
Premium/Discount to List
-$74,000
-11.4%
Views
119
Current Estimated Value
$531,261

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$43,739
Avg. Annual Appreciation
-6.76%
Original Mortgage
$356,000
Outstanding Balance
$344,368
Interest Rate
0.68%
Mortgage Type
New Conventional
Estimated Equity
$186,893

Purchase Details

Closed on
Jul 3, 2014
Sold by
Neelly Ed C and Neely Claudia
Bought by
Smith Kirby L and Smith Priscilla

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$64,500
Interest Rate
4.2%
Mortgage Type
Unknown
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Purchase History

Date Buyer Sale Price Title Company
Ward John $575,000 First American Mtg Solutions
Smith Kirby L $430,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ward John $356,000
Previous Owner Smith Kirby L $64,500
Previous Owner Smith Kirby L $344,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/27/2024 11/27/24 Sold $575,000 -7.1% $319 / Sq Ft
09/06/2024 09/06/24 Price Changed $619,000 -3.1% $344 / Sq Ft
07/29/2024 07/29/24 Price Changed $639,000 -1.5% $355 / Sq Ft
04/13/2024 04/13/24 For Sale $649,000 -- $361 / Sq Ft
Source: Memphis Area Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

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 $1,086 $34,520 $17,720 $16,800
2024 $1,336 $33,580 $17,240 $16,340
2023 $1,057 $32,320 $0 $0
2022 $995 $31,500 $0 $0
2021 $956 $30,200 $0 $0
2020 $886 $27,880 $0 $0
2019 $834 $26,140 $0 $0
2018 $834 $26,140 $0 $0
2017 $786 $24,540 $0 $0
2016 $439 $12,980 $0 $0
2013 -- $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Duane Wright

    Buyer's Agent in 2024

    Duane Wright

    Duane Wright Realty

    (731) 607-3076

    179 Total Sales

    Duane Wright
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Map

Source: Memphis Area Association of REALTORS®

MLS Number: 10170014

Memphis Area Association of REALTORS®

APN: 04-05-16-0-001-007.003

Alabama Colbert County Cherokee 35616

285 Thompson Gap Rd, Cherokee, AL

Not Listed for Sale

Detached

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