Rent-Ready Property For Sale (Cobb County, GA)
I have a property that I was planning to hold as a long-term rental in Cobb County, GA, but have decided against holding any rentals at this point in time, so I'm selling it.
Here are facts (sorry, I'm not into all the fluff and hyperbole :):
PICTURES:
http://dombrows.fmls.fusionmls.com/5.7.06.31497/Tools/MultiImageViewer/MediaViewerDlg.asp?Mode=1&DefaultTab=0&Address=4255%20Tenneyson%20LN&SysPropID=3452771&PageType=-1&ShowImages=1&ShowLinks=1
SHORT VERSION:
First, this would NOT make a good flip (not enough equity, so if you're looking for a rehab project, this isn't it). It's move-in-ready and would likely rent quickly for between $900-925. We're selling it for $84,900, though we're flexible on price for a cash buyer, quick close.
LONGER VERSION:
- List price: $84,900, though we're flexible on that price for a cash buyer
- In a quiet subdivision in Austell, GA (Cobb County)
- Small (just under 1000 sf) 3 bed/2 bath built in 1995.
- It's move-in-ready and rent ready. We've painted, had the carpets cleaned, did HVAC and roof maintenance, replaced the water heater, replaced the main line (it had a leak), and put in a used fridge and electric stove (we ran a new circuit to convert from gas to electric, but I think the gas line is still there)
- We originally had it listed for rent at $925 and got LOTS of interest and many applications. We couldn't decide if we wanted to rent it or sell it, so we never vetted any of the applicants and ultimately stopped advertising it for rent. I think at $900-925, there would be no issue renting it quickly.
- The reason we haven't just sold this to the same large investors we've sold everything else to recently is that this property has no garage, and all the institutional investors we talk to require garages for all their properties. So, they don't want it. They probably wouldn't take it for free because it doesn't have a garage
- The only adverse thing about this house (in my opinion) is that there is large power tower behind it. Didn't seem to impact the rentability of it, but could impact the eventual sale.
- Should be pretty low-maintenance as a rental -- it's small, has a fenced yard, is in a nice community and backs up to the Silver Comet Trail, which is a very long (61+ miles) trail from Georgia to Alabama
- Property is currently under contract to an owner occupant for $85,000. We have a kick-out clause that we're happy to use for a cash offer (current buyer is aware of that)
If anyone wants more info, feel free to ask in this thread or shoot me a PM.
Disclosures: My wife and I own the property and we are licensed real estate agents in Georgia. Nothing written above is guaranteed, and I would hope you do your own due diligence. We are an equal housing seller.
