Single-Family 3BR/2BA and 2BR/1BA Downstairs Apt, Stockbridge, GA
This property is ideal for an investor looking for double rental opportunities in one location. The split level home has a fully functional downstairs apartment: 3BR/2BA upstairs and 2BR/1BA with a kitchen in the downstairs apartment. The apartment has it's own front door and backyard access. The property is close to major interstate I-75 and I-675 and located near shopping, hospital, police and fire dept. and at three community parks.
A new roof was installed this past January and property is in need of mostly cosmetics and light rehab. Rehab began since tenant moved out in June .CLICK THIS LINK FOR PICS
BUY/HOLD ANALYSIS
WHOLESALE PRICE: $89,900
REHAB EST.: $15,000
Total Cost: $104,900
RENT AVERAGE: $1675/mo | $20,100/yr (3BR Rental@$875/mo and 2BR Rental@$800/mo)
TAXES EST.: $1700/YR (based on 2016 Estimates)
INS. EST: $800/yr
------------------
NET RENT INCOME: $17,600/yr (~17% ROI)
FIX/FLIPANALYSIS
WHOLESALE PRICE:$89,900
REHAB EST: $20,000
TOTAL COST: $109,900
AFTER REPAIR VALUE(ARV): $146,000(based on $60/per sqft)
----------------
NET PROFIT-FIX/FLIP: $36,100 (33% ROI)
COMPS: AVG. PRICE PER SQFT = $60.00
REQUIREMENT
- Cash Purchase Only! No Owner-Financing Available.
- Verifiable POF
- Required Earnest Money: $1,500 within 2 business day of executed PSA.
- Due Diligence: 5 Days Closing within 7 Days
- Closing Attorney with Chalker and Chalker, PC
- Buyer's pay closing cost.