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$115,199

Under Contract
1005 Hobson St, Albany, GA 31705
3 Beds
0 Baths
1,075 Square Feet
0.00 Acres Lot
Built in 1986
Under Contract
Units n/a
Checked: 14 hours ago
Updated: Jun 21, 2025 at 03:31AM

Investment Summary


Monthly Cash Flow
$208
Cap Rate
8.4%
Cash-on-Cash Return
9.4%
Debt Coverage Ratio
1.34
Internal Rate of Return (5 years)
13.2%

Property Description


0.00 Acres Lot
Built in 1986
Under Contract
Units n/a

Property is price below appraised value. Looking for your next home? This beautiful property is conveniently located just minutes from Albany State University-West Campus and in a quiet neighborhood. It is a charming 4 sided brick home, 3-bedrooms, 2 full bathrooms, 1075 sq. ft. of comfortable living space and on a corner lot. Features a new roof, new flooring, new interior and exterior painting, new stove, new garage door, new lighting, new furnace and hot water heater. With spacious rooms, a generously sized backyard, and an unbeatable price, this home is perfect for anyone seeking both value and comfort.

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Location


Property Details


Parking

  • Description: Attached
  • Details: Attached
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 0.0

Interior Features

  • # of Stories: 1
  • Basement Description: None

Exterior Features

  • Exterior Walls Materials: Wood
  • Roof Type: Gable
  • Roof Material: Composition

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 0000U/00013/001
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Brick 4 Side
  • Year Built: 1986

Tax Information

  • Annual Tax: $1,026

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Dougherty

Investment Summary


Monthly Cash Flow
$208
Cap Rate
8.4%
Cash-on-Cash Return
9.4%
Debt Coverage Ratio
1.34
Internal Rate of Return (5 years)
13.2%

Purchase Details

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Purchase price:
$115,199
Amount financed:
-$92,159
Down payment:
$23,040
Closing costs:
$3,456
Rehab costs:
$0
Initial cash invested:
$26,496
Square feet:
1,075
Cost per square foot:
$107
Monthly rent per square foot:
$1.21

Financing Details

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Loan amount:
$92,159
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$603
Property tax:
$86
Insurance:
$91
Private mortgage insurance (PMI):
$0
Monthly payment:
$780

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,300 $15,600
Vacancy loss: (6%)
6% -$78 -$936
Operating income:
$1,222 $14,664

Operating Expenses


% Rent Monthly Yearly
Property taxes: (7%)
7%-$86-$1,026
Insurance: (7%)
7%-$91-$1,092
Property management: (8%)
8%-$104-$1,248
Repairs & maintenance: (5%)
5%-$65-$780
Capital expenditures: (5%)
5%-$65-$780
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (32%)
32%-$411-$4,926

Cash Flow


Monthly Yearly
Net operating income:
$811 $9,732
Mortgage payments:
-$603 -$7,236
Cash flow:
$208 $2,496