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$275,000

For Sale - Active
1902 Canterbury St, Decatur, GA 30032
4 Beds
0 Baths
1,244 Square Feet
0.00 Acres Lot
Built in 1945
For Sale - Active
Units n/a
Checked: 2 days ago
Updated: Jun 15, 2025 at 04:16AM

Investment Summary


Monthly Cash Flow
-$367
Cap Rate
4.5%
Cash-on-Cash Return
-7.0%
Debt Coverage Ratio
0.74
Internal Rate of Return (5 years)
-2.8%

Property Description


0.00 Acres Lot
Built in 1945
For Sale - Active
Units n/a

MAJOR PRICE REDUCTION of thousands which the out of town owner is willing to absorb. Welcome to this charming Decatur home in East Lake Terrace featuring a cozy fireplace and a soothing color palette throughout. The owner has taking great pride in renovating this beauty (which was built in 1945). The property offers flexible living space on the main level and the lower area to accommodate your lifestyle needs. Enjoy the granite counters, new appliances and fresh paint. The finished basement with a full bathroom gives a plethora of ideas on how to customize the use to your desires. Step outside on the deck to relax in the very large backyard, providing the ideal spot to unwind after a long day. Don't miss out on this wonderful opportunity to make this house your home! And owner will provide a home warranty!

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Location


Property Details


Parking

  • Description: Driveway
  • Details: Off Street
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

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

Interior Features

  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Daylight, Exterior Entry, Finished, Full
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Wood
  • Foundation: Block
  • Roof Material: Composition

Land Information

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

Lot Information

  • Parcel ID: 1517015005
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Bungalow/Cottage
  • Year Built: 1945

Tax Information

  • Annual Tax: $4,058

Utilities

  • Water & Sewer: Public
  • Heating: Central, Forced Air, Natural Gas
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: De Kalb

Listing Details


Listed by:
Gloria Damiano
Coldwell Banker Realty
(770) 623-1900

Source:
Georgia MLS
MLS#: 10303946
Georgia MLS

Investment Summary


Monthly Cash Flow
-$367
Cap Rate
4.5%
Cash-on-Cash Return
-7.0%
Debt Coverage Ratio
0.74
Internal Rate of Return (5 years)
-2.8%

Purchase Details

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Purchase price:
$275,000
Amount financed:
-$220,000
Down payment:
$55,000
Closing costs:
$8,250
Rehab costs:
$0
Initial cash invested:
$63,250
Square feet:
1,244
Cost per square foot:
$221
Monthly rent per square foot:
$1.61

Financing Details

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Loan amount:
$220,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,409
Property tax:
$338
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,887

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (17%)
17%-$338-$4,058
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (42%)
42%-$838-$10,058

Cash Flow


Monthly Yearly
Net operating income:
$1,042 $12,504
Mortgage payments:
-$1,409 -$16,908
Cash flow:
$367 $4,404