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$365,000

For Sale - Active
291 Lora Smith Rd, Newnan, GA 30265
3 Beds
2 Baths
1,680 Square Feet
0.00 Acres Lot
Built in 1995
For Sale - Active
Units n/a
Checked: 21 hours ago
Updated: Sep 02, 2025 at 10:08AM

Investment Summary


Monthly Cash Flow
-$619
Cap Rate
4.1%
Cash-on-Cash Return
-8.8%
Debt Coverage Ratio
0.67
Internal Rate of Return (5 years)
-4.6%

Property Description


0.00 Acres Lot
Built in 1995
For Sale - Active
Units n/a

A GREAT HOME WITH A BIG, PARTIALLY WOODED BACK YARD FOR PRIVACY AND RELAXING. Step inside to a family room with a gas fireplace with a great mantel, wood flooring (not LVP) and trey ceiling. Continue to the dining room with a vaulted ceiling and lots of natural light. The adjoining kitchen offers a bar to eat or do work, gas stove/oven, refrigerator, dishwasher, microwave/vent hood, lots of cabinet storage, pretty backsplash, and huge pantry. Next, we go to the sunroom with vaulted ceiling, wood flooring, ceiling fan, and a door leading out to the patio. The sunroom is temperature controlled. Two bedrooms have vaulted ceilings, ceiling fans, and carpet. Hall bathroom has shower/tub and tiled flooring. The owner's suite has a trey ceiling and large floor to ceiling windows for lots of light. Updated owner's bathroom has a huge shower, solid surface countertops, and LVP flooring. The laundry room has cabinetry and tile flooring. From the laundry room we can go to the garage with storage & remote access. Need a storage shed? There is a nice-sized shed in the backyard. All in all, a great home in a great area. Come Take A Look!

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Location


Property Details


Parking

  • Description: Garage
  • Details: Attached, Garage, Kitchen Level, Parking Pad, Storage
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 5
  • # 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: $275/annually

Land Information

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

Lot Information

  • Parcel ID: W09052
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch, Traditional
  • Year Built: 1995

Tax Information

  • Annual Tax: $1,269

Utilities

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

Location

  • County: Coweta

Listing Details


Listed by:
Robert Hinely
Lindsey's Inc., Realtors
(770) 253-6990

Source:
Georgia MLS
MLS#: 10587326
Georgia MLS

Investment Summary


Monthly Cash Flow
-$619
Cap Rate
4.1%
Cash-on-Cash Return
-8.8%
Debt Coverage Ratio
0.67
Internal Rate of Return (5 years)
-4.6%

Purchase Details

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Purchase price:
$365,000
Amount financed:
-$292,000
Down payment:
$73,000
Closing costs:
$10,950
Rehab costs:
$0
Initial cash invested:
$83,950
Square feet:
1,680
Cost per square foot:
$217
Monthly rent per square foot:
$1.19

Financing Details

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Loan amount:
$292,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,870
Property tax:
$106
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,116

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: (5%)
5%-$106-$1,269
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: (1%)
1%-$23-$276
Total operating expenses: (31%)
31%-$629-$7,545

Cash Flow


Monthly Yearly
Net operating income:
$1,251 $15,012
Mortgage payments:
-$1,870 -$22,440
Cash flow:
$619 $7,428