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$259,900

For Sale - Active
145 Charleston Pl, Covington, GA 30016
3 Beds
0 Baths
1,523 Square Feet
0.00 Acres Lot
Built in 2003
For Sale - Active
Units n/a
Checked: 9 hours ago
Updated: Jul 06, 2025 at 03:07AM

Investment Summary


Monthly Cash Flow
-$357
Cap Rate
4.5%
Cash-on-Cash Return
-7.2%
Debt Coverage Ratio
0.73
Internal Rate of Return (5 years)
-2.9%

Property Description


0.00 Acres Lot
Built in 2003
For Sale - Active
Units n/a

Welcome to this charming updated ranch-style home in The Villages at Ellington that has new flooring , and new interior paint featuring 3 bedrooms / 2 bathrooms, and a 2 car garage perfect for comfortable living. This bright and airy home offers a spacious great room with vaulted ceilings and a welcoming gas fireplace, seamlessly flowing into the dining room and kitchen. Step outside to the back patio for outdoor gatherings. Retreat to the private main bedroom suite, separate from the two secondary bedrooms, offering tranquility and relaxation. Don't miss the walking path that leads to the lake and community amenities!

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Location


Property Details


Parking

  • Description: Attached, Garage Door Opener, Driveway, Garage
  • Details: Garage
  • 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
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Vinyl siding
  • Roof Type: Gable
  • Roof Material: Composition

HOA

  • Has HOA: Yes
  • HOA Fee: $530/annually

Land Information

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

Lot Information

  • Parcel ID: 0013F00000028000
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch, Traditional
  • Year Built: 2003

Tax Information

  • Annual Tax: $2,688

Utilities

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

Location

  • County: Newton

Listing Details


Listed by:
Jacqueline Shaffer
Offerpad Brokerage
(678) 317-9017

Source:
Georgia MLS
MLS#: 10548838
Georgia MLS

Investment Summary


Monthly Cash Flow
-$357
Cap Rate
4.5%
Cash-on-Cash Return
-7.2%
Debt Coverage Ratio
0.73
Internal Rate of Return (5 years)
-2.9%

Purchase Details

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Purchase price:
$259,900
Amount financed:
-$207,920
Down payment:
$51,980
Closing costs:
$7,797
Rehab costs:
$0
Initial cash invested:
$59,777
Square feet:
1,523
Cost per square foot:
$171
Monthly rent per square foot:
$1.18

Financing Details

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Loan amount:
$207,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,331
Property tax:
$224
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,681

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (12%)
12%-$224-$2,688
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (2%)
2%-$44-$528
Total operating expenses: (40%)
40%-$718-$8,616

Cash Flow


Monthly Yearly
Net operating income:
$974 $11,688
Mortgage payments:
-$1,331 -$15,972
Cash flow:
$357 $4,284