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$189,000

Under Contract
282 S Pine Hill Rd, Griffin, GA 30224
3 Beds
0 Baths
1,296 Square Feet
0.00 Acres Lot
Built in 1986
Under Contract
Units n/a
Checked: 13 hours ago
Updated: Jul 16, 2025 at 04:39AM

Investment Summary


Monthly Cash Flow
-$135
Cap Rate
5.3%
Cash-on-Cash Return
-3.7%
Debt Coverage Ratio
0.86
Internal Rate of Return (5 years)
0.4%

Property Description


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

PRICE IMPROVEMENT!!! This thoughtfully updated ALL-BRICK RANCH offers a functional and inviting layout with 3 bedrooms and 2 full bathrooms. Inside, you'll find a spacious OPEN-CONCEPT kitchen and dining area, providing the perfect setting for cooking, gathering, and everyday living. The primary suite features its own private bath, creating a quiet and comfortable retreat to unwind. Recent updates include NEW PAINT in the kitchen, primary suite, and hallway, as well as a FRESHLY STAINED AND PAINTED BACK DECK. Additional improvements feature a NEW HOT WATER HEATER, NEW CARPET in the primary suite, and a REMODELED PRIMARY BATHROOM with a new vanity. Set on nearly half an acre, the property offers a DEEP FENCED-IN BACKYARD with mature trees and plenty of open space-ideal for outdoor activities, gardening, or future projects. Solidly built and well-maintained, this home combines classic construction with thoughtful updates in a peaceful, welcoming setting.

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Location


Property Details


Parking

  • Details: Off Street, Parking Pad
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Rooms: 5
  • # of Stories: 1
  • Basement Description: Crawl Space

Exterior Features

  • Exterior Walls Materials: Brick Veneer
  • Roof Type: Hip
  • Roof Material: Composition

Land Information

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

Lot Information

  • Parcel ID: 055A01045
  • Lot Size: 0 sqft

Property Information

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

Tax Information

  • Annual Tax: $2,423

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Attic Fan, Ceiling Fan(s), Central Air, Dual

Location

  • County: Spalding

Listing Details


Listed by:
The Glennie Group Inc
Keller Williams Realty Atl. Partners
(770) 632-1112

Source:
Georgia MLS
MLS#: 10528515
Georgia MLS

Investment Summary


Monthly Cash Flow
-$135
Cap Rate
5.3%
Cash-on-Cash Return
-3.7%
Debt Coverage Ratio
0.86
Internal Rate of Return (5 years)
0.4%

Purchase Details

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Purchase price:
$189,000
Amount financed:
-$151,200
Down payment:
$37,800
Closing costs:
$5,670
Rehab costs:
$0
Initial cash invested:
$43,470
Square feet:
1,296
Cost per square foot:
$146
Monthly rent per square foot:
$1.16

Financing Details

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Loan amount:
$151,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$968
Property tax:
$202
Insurance:
$105
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,275

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,500 $18,000
Vacancy loss: (6%)
6% -$90 -$1,080
Operating income:
$1,410 $16,920

Operating Expenses


% Rent Monthly Yearly
Property taxes: (13%)
13%-$202-$2,423
Insurance: (7%)
7%-$105-$1,260
Property management: (8%)
8%-$120-$1,440
Repairs & maintenance: (5%)
5%-$75-$900
Capital expenditures: (5%)
5%-$75-$900
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (38%)
38%-$577-$6,923

Cash Flow


Monthly Yearly
Net operating income:
$833 $9,996
Mortgage payments:
-$968 -$11,616
Cash flow:
$135 $1,620