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$410,000

For Sale - Active
618 Burke Ave, Albany, GA 31701
4 Beds
3 Baths
1,848 Square Feet
0.00 Acres Lot
Built in 1984
For Sale - Active
Units n/a
Checked: 5 hours ago
Updated: Jun 23, 2025 at 03:05AM

Investment Summary


Monthly Cash Flow
-$1,859
Cap Rate
0.7%
Cash-on-Cash Return
-23.7%
Debt Coverage Ratio
0.11
Internal Rate of Return (5 years)
-18.8%

Property Description


0.00 Acres Lot
Built in 1984
For Sale - Active
Units n/a

Don't miss out on this move in ready split level home in Lawrenceville! This 4 bedroom, 3 full bathroom home has an In-Law-Suite on the lower level complete with its own side entrance, full kitchen, separate shower a and living area. The main home features a large kitchen area with tile flooring overlooking the fenced back yard and plenty of shade for those sunny days. The family room features a tiled fireplace for those cold nights. There is also a detached two car garage in the back yard, perfect for additional storage, collectibles or a future man cave. This home sits at the end of the street where there is low to no traffic.

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Location


Property Details


Parking

  • Description: Parking Pad
  • Details: Attached, Detached, Driveway, Garage Faces Front, Kitchen Level, Garage
  • Garage Spaces: 2
  • Spaces Total: 8

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Total): 3.0

Interior Features

  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Finished
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Concrete Block
  • Foundation: Slab
  • Roof Type: Gable
  • Roof Material: Composition, Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Duplex

Lot Information

  • Parcel ID: 000HH/00022/021
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Traditional
  • Year Built: 1984

Tax Information

  • Annual Tax: $2,906

Utilities

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

Location

  • County: Dougherty

Listing Details


Listed by:
ROBERTO CORTEZ
BHGRE Metro Brokers
(404) 843-2500

Source:
First Multiple Listing Service (FMLS)
MLS#: 7585678
First Multiple Listing Service (FMLS)

Investment Summary


Monthly Cash Flow
-$1,859
Cap Rate
0.7%
Cash-on-Cash Return
-23.7%
Debt Coverage Ratio
0.11
Internal Rate of Return (5 years)
-18.8%

Purchase Details

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Purchase price:
$410,000
Amount financed:
-$328,000
Down payment:
$82,000
Closing costs:
$12,300
Rehab costs:
$0
Initial cash invested:
$94,300
Square feet:
1,848
Cost per square foot:
$222
Monthly rent per square foot:
$0.38

Financing Details

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Loan amount:
$328,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$2,100
Property tax:
$242
Insurance:
$49
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,391

Operating Income

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% Rent Monthly Yearly
Gross rent:
$700 $8,400
Vacancy loss: (6%)
6% -$42 -$504
Operating income:
$658 $7,896

Operating Expenses


% Rent Monthly Yearly
Property taxes: (35%)
35%-$242-$2,906
Insurance: (7%)
7%-$49-$588
Property management: (8%)
8%-$56-$672
Repairs & maintenance: (5%)
5%-$35-$420
Capital expenditures: (5%)
5%-$35-$420
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (60%)
60%-$417-$5,006

Cash Flow


Monthly Yearly
Net operating income:
$241 $2,892
Mortgage payments:
-$2,100 -$25,200
Cash flow:
$1,859 $22,308