Home run turn keyrental opportunity!

[Denny Faircloth]

Turnkey 2 bed / 2bath rental - Off Market - For Sale By Owner

1,092 sq ft

Price: $89,000

ARV: $89,000

Rehab: $0

Occupied by long term tenant

Rent: $850

Cap Rate 8.85%

CoC 18.56% even with 20% down payment

NOI $7,878

Link to Bigger Pockets generated rental deal analyzer which includes current HOA, insurance and tax information.

https://www.biggerpockets.com/calculators/shared/818651/9fcd5f59-f57b-49af-82c6-b516817eaf22

Absolute NO BRAINER for the buy and hold investor, experienced or novice. This opportunity won't last long. Ever hear the saying "One man's trash, another man's treasure." Well this, is not that, but let me explain. My partners and I are very experienced residential fix N flippers, with aspirations of moving up into the multifamily space. 

I never wanted to be in the SFH rental business, but my father died back in 2006. My mom couldn't afford to keep our family home, so I updated it, put it on the market and moved her into a smaller more affordable townhome. After I got married and started a family, she move in with us. Unfortunately the market crashed and it was underwater, so I rented out the townhome. Now the market is coming back and the mortgage has been paid down a little, so it's time to move on.

It's been rented to the same dream tenant for years and they have no plans on moving anytime soon. If they do they'd be easy to replace. Between the strong working class families, medical students and Fort Gordon, the rental market is very strong in Augusta.

The HVAC was replaced last year along with a new oven, so maintenance cost should continue to be low. If you're looking to put your toe in the water with an easy starter rental or just looking to add another one to your portfolio, this is an easy decision. But act fast as it won't last.

Call or text Denny Faircloth at 706-951-5726 or email [email protected]