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Property Location

5949 Watermark Cove, Gainesville GA 30506

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List Price $199,000

Units 1

Price / Unit $199,000

Est. Year 1 Cash Flow $-4,389 after debt service

5949 Watermark Cove Gainesville, GA 30506

Data last updated: August 2, 2026 at 9:46 PM EST

ACTIVE

Owner financing available! Please call for details! Have you been looking for a beautiful lot to build your dream home on Lake Lanier? This 2.63 acre lot in a gated subdivision may just be the one you've been looking for! Lot 23 offers a lot of street frontage and you'll have plenty of room for a winding driveway, a private pool and tons of privacy. Although this lot doesn't have lake frontage, it is a short golf cart ride to the dock that is ALWAYS in deep water. This is only 1 of the few Lake Lanier subdivisions that INCLUDES a DEEDED boat slip in the beautiful, 24 slip community dock at NO ADDITIONAL charge. Watermark is a gated subdivision with only 18 lots. You'll enjoy the stone pavilion with a spa/hot tub overlooking the lake for all of the residents to enjoy that is GREAT for entertaining and cookouts! The private swimming pool and pool house for Watermark residents is located at the front of the subdivision, the 1st driveway on the right after the gate. Buy now and save marina fees, and build later. You can start enjoying lake life today! Minimum of 3500 square feet heated for new construction which can include terrace level square footage. $2900/year HOA fees plus $2000 capital contribution at closing. What are you waiting for? It is a great investment to own a lovely lot with a FREE boat slip! The seller will meet you at the lot to show you the building site with advance notice.

Investment Notes — Gainesville

Located in the Gainesville, GA area
Value-add opportunities typically exist through management, renovations, or operational improvements
Rental demand and achievable rents vary significantly by submarket — local market verification is recommended
Actual cash flow depends on occupancy, expenses, financing, and current market conditions

Modeled from FMLS data + Atlanta metro baselines where listing data is incomplete

Price per Unit $199,000 Verified

 Est. Year 1 Cash Flow  $-4,389  after debt service (25% down / 7% / 30-yr)  Modeled   

Confidence scores included Latest FMLS data Transparent modeling

Starts from list price and unit count. No rent data in this listing — enter your own rent assumptions below. Override any value to model your own scenario.

Assumptions

Purchase Price List Price

Number of Units

Avg Rent / Unit / Month Enter your estimate

Annual Gross Potential Income Editable

Enter rent per unit or total GPI to model returns

Vacancy Rate Estimated

5.0%

Operating Expense Ratio Estimated

46%

Financing

Down Payment Default 25%

25%

Interest Rate Default 7%

Loan Term Years

30 yrs

Projected Returns

Gross Potential Income —

Effective Gross Income —

Operating Expenses —

Net Operating Income (NOI) —

Asking Cap Rate —

Price Per Unit —

Annual Debt Service —

Year 1 Cash Flow —

Cash-on-Cash Return —

Simplified estimates for Gainesville. Actual results depend on real rents, expenses, financing terms, and local market conditions. Service view: Inquire for Details.

Why these numbers can differ from the Metrics Bar & Highlights above

The Metrics Bar and Highlights use the service’s numbers (actual MLS Gross / Opex / NOI / Cap Rate when available, otherwise modeled).
This calculator lets you change every assumption in real time. Once you move any slider or input, the results become your scenario, not the service estimate.
Vacancy, expense ratio, and financing terms here may be more or less aggressive than the service defaults.
Cash flow shown is before income taxes, capital expenditures, and any other non-operating items.

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Jeff’s Investment Take

Insufficient data for a modeled recommendation. Contact for the rent roll and actuals.

Important Investment Information

Actual MLS Cap Rate is used when present. Gross Income uses rent roll or MLS Gross Income when available, otherwise modeled. Operating expenses use an all-in ratio by property size. Cash-on-cash assumes 25% down, 7% interest, 30-year amortization. All figures are for screening only — verify with current rent roll and expenses.

Some figures shown on this page are estimated because complete rent-roll or operating data was not provided in the listing. Estimated values are clearly marked.

Any estimated or modeled figures represent the independent analysis of Jeff Crowe / Century 21 The Avenues and are not supplied by FMLS or the listing broker.

This website and its content are for informational and educational purposes only. Nothing on this site constitutes financial, investment, tax, or real estate advice. All information is deemed reliable but not guaranteed. You should always conduct your own thorough due diligence, verify all data independently, review the physical condition of the property, and consult with your own qualified attorney, accountant, and investment advisor before making any purchase decision.

MLS ID: 7788660 · Listing courtesy of Keller Williams Realty Atlanta Partners, Teresa Smith · 770-654-4173

IDX Information Provided by Jeff Crowe · jeffcrowe@c21theavenues.com

FMLS · Updated Daily

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