A bank foreclosure opportunity has surfaced in one of Chateau Elan's most sought-after neighborhoods, and the numbers tell a compelling story. Lisa Harris lives in Chateau Elan and works the Covered Bridge area daily. When a listing like this hits the market in her own neighborhood, it's worth flagging. 5760 Lula Bridge Ct is located in the Covered Bridge subdivision on a quiet cul-de-sac of only five to six homes, now listed at $1,399,900 against a tax assessor value of $1,740,000. Originally listed at $1,550,000 and previously sold in June 2022 for $1,644,000, this 6,469-square-foot luxury estate with six bedrooms, seven bathrooms, and 0.86 acres backing to Duncan Creek's beautiful green space represents one of the most significant value opportunities in Chateau Elan. This is not Lisa's listing, but it's exactly the kind of opportunity she highlights for buyers who are paying attention to the neighborhood.
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Watch the full walkthrough of 5760 Lula Bridge Ct: 6 bedrooms, 6,469 sq ft, and 0.86 private acres in the Covered Bridge section of Chateau Elan.
Why This Property Stands Out
At 6,469 square feet on 0.86 acres, 5760 Lula Bridge Ct is a residence of exceptional scale set on one of the most private homesites in the Covered Bridge section. The property sits on a quiet cul-de-sac street of only five to six homes, backing up to the beautiful green space along Duncan Creek, meaning no rear neighbors, no future development behind you, and a backyard that feels genuinely secluded.
The generous 0.86-acre lot is ideal for adding a pool, creating an outdoor entertaining area, or simply enjoying the privacy and space that is increasingly rare in luxury communities. With nearly new construction, six bedrooms, and seven bathrooms, this is a home built for both everyday living and impressive entertaining.
The gourmet chef's kitchen anchors the main level with premium appliances, abundant cabinetry, and generous gathering spaces that flow naturally into the home's living and dining areas. The luxurious owner's suite is a private retreat, complete with a spa-inspired bathroom featuring a soaking tub, dual vanities, and a large walk-in shower.
Downstairs, the finished terrace level adds a fireplace, an entertainment area with a wine cooler, coffee station, and kegerator, creating the kind of lounge-worthy gathering space that makes a home feel like a destination.
Front exterior of 5760 Lula Bridge Ct, a luxury estate in the Covered Bridge section of Chateau Elan.
The Full Price Story: $1,740,000 Assessor Value to $1,399,900
The pricing on this property tells a remarkable story. Originally purchased in June 2022 for $1,644,000, the property was listed as a bank foreclosure at $1,550,000 and has since been reduced to $1,399,900, a total reduction of $150,100 from the original list price.
To put that in perspective: the Barrow County Tax Assessor values this property at $1,740,000. At the current list price of $1,399,900, a buyer would be paying $340,100 below the assessor's value and $244,100 below what it last sold for in 2022. The community's median listing price typically ranges from $1.3 million to $1.6 million, and homes in the Covered Bridge section with premium homesites and nearly new construction tend to command strong values.
At $1,399,900 for 6,469 square feet on 0.86 acres, this estate represents one of the most compelling price-per-square-foot opportunities in a gated golf course community with resort amenities next door. Price reductions of this magnitude in Chateau Elan are uncommon, and a foreclosure at this level is exceptional.
$150,100 Below Original List Price
Original List Price
$1,550,000
Current List Price
$1,399,900
2022 Sale Price
$1,644,000
Tax Assessor Value
$1,740,000
A $150,100 reduction on a 6,469 sq ft estate, priced $244,100 below its 2022 sale price and $340,100 below tax assessor value.
The Foreclosure Angle
Foreclosure opportunities in Chateau Elan are rare. This is a community where homes are well-maintained, values are strong, and turnover is relatively low. When a property does enter the market through bank foreclosure, it represents an unusual window of opportunity for a prepared buyer.
This property has been on the market for over 124 days, an unusually long exposure for a Chateau Elan listing. For buyers, that timeline signals a bank that is motivated to move the asset. For sellers watching the market, it underscores the importance of pricing strategy, marketing quality, and working with an agent who understands both the luxury market and the dynamics of distressed sales.
In this case, the numbers speak for themselves: a 6,469-square-foot, nearly new estate on 0.86 acres with a finished terrace level, three-car garage, pool-ready homesite, and Duncan Creek green-space privacy, all on a quiet cul-de-sac, at $1,399,900. That's $340,100 below the tax assessor value and $244,100 below what the home sold for in 2022.
It is worth noting that foreclosure purchases may involve different timelines and processes than traditional transactions. Working with an agent who understands both the luxury market and the nuances of these transactions is essential. That is exactly what I provide.
Covered Bridge: The Neighborhood
The Covered Bridge subdivision is one of the most distinctive neighborhoods within Chateau Elan. Named for its signature covered bridge entrance, the section features homes with character, wooded homesites, and a sense of privacy that sets it apart from other areas of the community.
This particular property sits on a quiet cul-de-sac street of only five to six homes, the kind of intimate, low-traffic setting that families and privacy-conscious buyers prize. The 0.86-acre homesite backs up to the beautiful green space along Duncan Creek, offering exceptional privacy, an unobstructed view of the natural landscape, and the serenity of a waterway corridor. It means no rear neighbors, no future development behind you, and a backyard setting that feels genuinely secluded.
With nearly an acre of land, the homesite is also ideal for adding a pool, a feature that adds both lifestyle value and resale appeal in the Georgia climate. In a community of 3,500 acres, a homesite of this size that borders protected green space along a creek is a true premium.
Residents of Covered Bridge enjoy all the benefits of living within Chateau Elan: gated entry with 24-hour security, access to community pools, tennis courts, walking trails, and social clubs. The neighborhood's location provides convenient access to the Braselton LifePath for local dining, shopping, parks, and entertainment, as well as immediate adjacency to the world-famous Chateau Elan Winery and Resort.
The Resort Lifestyle Next Door
One of the unique advantages of living in Chateau Elan is having a world-class resort as your neighbor. The Chateau Elan Winery and Resort sits at the heart of the community, offering award-winning wines, a full-service spa, multiple dining venues, and a calendar of events and seasonal celebrations.
For residents of the Covered Bridge section, the resort is just moments away. Golf cart-friendly streets make it easy to navigate the community, and the Braselton LifePath provides convenient access to local dining, shopping, parks, and entertainment beyond the gates.
Optional Legends Golf Club and Sports Club Membership
Unlike some sections of Chateau Elan that require mandatory golf club membership, the Covered Bridge section offers optional membership at the renowned Legends Golf Club and Sports Club. This is a significant advantage for buyers who want access to championship golf, tennis, pickleball, fitness facilities, an indoor gymnasium, and a Junior Olympic-sized pool, without the financial commitment of mandatory membership.
The Legends Golf Club features 45 holes of championship golf, including courses designed by Pete Dye and Will Wilson, and serves as the headquarters for the American Junior Golf Association. For golf enthusiasts, optional membership means you can join on your own terms. For buyers who are not golfers, the absence of mandatory dues is an added benefit.
The Numbers at a Glance
| Address | 5760 Lula Bridge Ct, Braselton, GA 30517 |
| List Price | $1,399,900 |
| Original List Price | $1,550,000 |
| Total Reduction | $150,100 (from original list) |
| 2022 Sale Price | $1,644,000 (June 2022) |
| Tax Assessor Value | $1,740,000 |
| Bedrooms / Bathrooms | 6 Bed / 7 Bath |
| Square Footage | 6,469 sq ft |
| Lot Size | 0.86 Acres |
| Days on Market | 124+ Days |
| Type | BANK FORECLOSURE |
| Garage | Three-Car Garage |
| Homesite | 0.86 Acres, Pool-Ready, Backs to Duncan Creek Green Space |
| Street | Quiet Cul-de-Sac, 56 Homes |
| Construction | Nearly New, Modern Finishes |
| Subdivision | Covered Bridge, Chateau Elan |
| Golf Membership | Optional Legends Golf Club and Sports Club |
| Listed By | Donna R Knowles, Keller Williams River Cities |
| Source | GAMLS |
| MLS# | 10680821 |
Who This Property Is For
This property is ideal for a buyer who has been watching the Chateau Elan market and waiting for the right moment to enter. The combination of a bank foreclosure price, a $150,100 reduction from the original list, nearly new construction at 6,469 square feet, 0.86 acres on a quiet cul-de-sac, and a pool-ready homesite backing to Duncan Creek green space makes this a once-in-a-cycle opportunity.
For relocating buyers coming from higher-cost markets, this property represents exactly the kind of value that makes Northeast Metro Atlanta so attractive. A 6,469-square-foot estate on nearly an acre with a finished terrace level, three-car garage, and resort-adjacent location, in a gated golf course community, would command significantly more in coastal California, the New York metro, or South Florida. And the fact that it last sold for $1,644,000 and is now listed at $1,399,900 speaks for itself.
For local move-up buyers, this is a chance to secure a premium Chateau Elan address in the Covered Bridge section at a price point $340,100 below the tax assessor value. And for investors who understand the long-term value of golf course community real estate in a growing market, the numbers make the case.
Whether you are drawn to the open-concept chef's kitchen, the spa-inspired owner's suite, the finished terrace level with its wine cooler and entertainment area, the pool-ready 0.86-acre homesite, or simply the privacy of a Duncan Creek green-space backdrop on one of the quietest cul-de-sacs in Chateau Elan, this property delivers.
Interested in This Opportunity?
This property is listed through another brokerage, but if you're interested in 5760 Lula Bridge Ct or other opportunities in the Covered Bridge neighborhood, contact Lisa Harris. As a Chateau Elan resident and luxury specialist with nearly 20 years of experience in this community, she provides the local insight, market context, and buyer representation you need to move with confidence.
Whether you are a buyer ready to act on this opportunity or just want to stay informed about what's happening in the Chateau Elan market, let's talk. Contact Lisa directly at 404-307-9898 or email LHarris@remax.net for local market insights and buyer representation.
Life is too short for ordinary homes. And this one, on a private cul-de-sac, backing to Duncan Creek, at a price that's $340,100 below tax assessor value, is anything but ordinary.
Interested in This Property?
This property is listed through another brokerage, but if you're interested in 5760 Lula Bridge Ct or other opportunities in the Covered Bridge neighborhood, Lisa Harris can help. As a Chateau Elan resident and luxury specialist with nearly 20 years of community expertise, she provides the local insight and buyer representation you need to move with confidence.
Lisa Harris
CLHMS GUILD Certified Luxury Home Marketing Specialist