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$150,000

Under Contract
188 Booker St, Athens, GA 30601
2 Beds
0 Baths
0 Square Feet
0.00 Acres Lot
Built in 1965
Under Contract
Units n/a
Checked: 15 hours ago
Updated: Jul 21, 2025 at 03:35AM

Investment Summary


Monthly Cash Flow
$12
Cap Rate
6.2%
Cash-on-Cash Return
0.4%
Debt Coverage Ratio
1.02
Internal Rate of Return (5 years)
4.4%

Property Description


0.00 Acres Lot
Built in 1965
Under Contract
Units n/a

Georgia Premier RE Advisors is pleased to present a residential income property in East Athens. This 2bd/1ba home is currently being rented for $1050/month on a year lease. This property is being offered at a 8.4% CAP rate. The house features hard wood floors throughout most of the home, metal roof, clean interior, and new covered back porch. The location is in the up and coming East Athens area that has seen tremendous revitalization in the last few years. The property is currently being managed by a property management company leaving no headaches for any buyers to deal with. There is a strong potential to get even more in rent next year as the current rental rate is below market rate. Please do not disturb current tenants. Call for more details on this amazing rental opportunity in Athens!

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Location


Property Details


Parking

  • Details: None
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 0
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 4
  • # of Stories: 1
  • Basement Description: Crawl Space, None
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Wood Siding
  • Foundation: Block
  • Roof Type: Gable

Land Information

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

Lot Information

  • Parcel ID: 164C4D016
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1965

Tax Information

  • Annual Tax: $1,401

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas
  • Cooling: None

Location

  • County: Clarke

Listing Details


Listed by:
Jesse Patrick
Georgia Premier RE Advisors
(706) 363-0099

Source:
Georgia MLS
MLS#: 10545439
Georgia MLS

Investment Summary


Monthly Cash Flow
$12
Cap Rate
6.2%
Cash-on-Cash Return
0.4%
Debt Coverage Ratio
1.02
Internal Rate of Return (5 years)
4.4%

Purchase Details

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Purchase price:
$150,000
Amount financed:
-$120,000
Down payment:
$30,000
Closing costs:
$4,500
Rehab costs:
$0
Initial cash invested:
$34,500
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$120,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$768
Property tax:
$117
Insurance:
$91
Private mortgage insurance (PMI):
$0
Monthly payment:
$976

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: (9%)
9%-$117-$1,402
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: (34%)
34%-$442-$5,302

Cash Flow


Monthly Yearly
Net operating income:
$780 $9,360
Mortgage payments:
-$768 -$9,216
Cash flow:
$12 $144