Is this a Deal?...Griffin, GA .. South of Atlanta

5 Replies

Greetings Fellow Bigger Pocket Friends.

We recently put a Single Family or Multifamily house under contract in downtown Griffin, GA. It also has a duplex (2 1/2 bed/bath) on the back of the lot as well. Its in a good neighborhood, close to a fire station, and is being sold together. We want to sale to someone interested in a rehab. Is this a good deal? If so, what numbers or offer numbers would you suggest?

Repairs for Multifamily: 30K

Build 1930

5/3

2,510 Sq



Repairs For Duplex: 10K (one unit is occupied)

Rents for $600

1,000 Sq

For the Lot size and number of bedrooms the ARV is 180K...

Comps:

1. 309 College St Griffin, GA 30224 $165,000, Sep 2014 0.58 mi 4/2/ 3,500
1930. 

2.508 Brook Cir Griffin, GA 30224 $175,000 Aug 2014 0.84  4/ 3.5/ 3,266. 1958.

3. 615 E College St Griffin, GA 30224 $220,000 Jul 2014 0.97 mi 3,365 1950

Asking Price 60K

Let me know you guys feedback, Thanks

I'm anticipating the responses from the pros. I hope my response bumps your question back up to the top to get a response. I am new to the field, and have been looking at the Griffin market as well. Wish you the best of luck!

Thanks, Marlene....Yea, I'm patently waiting for some feedback....Griffin is a new market for me, hopefully We can move it. 

Maybe we should connect @Kareem Wyatt @Marlene Michael . I'm from Gainesville, GA just starting out. I'm trying to inquire as much knowledge as I can. I'm originally from Griffin and my family is still there. I'm also looking to invest in that area. My problem is trying to get started. Please help!