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$225,000

For Sale - Active
648 Martin Luther King Jr St, Rockmart, GA 30153
4 Beds
0 Baths
0 Square Feet
0.00 Acres Lot
Built in 1900
For Sale - Active
Units n/a
Checked: 7 hours ago
Updated: Jun 18, 2025 at 03:37AM

Investment Summary


Monthly Cash Flow
-$59
Cap Rate
5.8%
Cash-on-Cash Return
-1.4%
Debt Coverage Ratio
0.95
Internal Rate of Return (5 years)
2.7%

Property Description


0.00 Acres Lot
Built in 1900
For Sale - Active
Units n/a

Modern Comfort in a Historic Setting - Move in Ready 4 Bedroom Ranch with Charm and Upgrades! Nestled in the heart of Rockmart, this beautifully updated ranch offers the perfect blend of character and comfort. Imagine relaxing on the porch under a metal roof, hosting in your open-concept kitchen, or unwinding in your oversized walk in shower. With thoughtful upgrades and a prime location close to downtown, this home is a rare find under $250k.

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Location


Property Details


Parking

  • Description: Carport, Driveway
  • Details: Carport, Detached
  • Garage Spaces: 0
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

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

Interior Features

  • # of Rooms: 8
  • # of Stories: 1
  • Basement Description: None
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Fiber cement siding (Hardi-board/Hardi-plank
  • Foundation: Block
  • Roof Type: Gable or Hip
  • Roof Material: Metal

Land Information

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

Lot Information

  • Parcel ID: R10171
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch
  • Year Built: 1900

Tax Information

  • Annual Tax: $1,779

Utilities

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

Location

  • County: Polk

Investment Summary


Monthly Cash Flow
-$59
Cap Rate
5.8%
Cash-on-Cash Return
-1.4%
Debt Coverage Ratio
0.95
Internal Rate of Return (5 years)
2.7%

Purchase Details

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Purchase price:
$225,000
Amount financed:
-$180,000
Down payment:
$45,000
Closing costs:
$6,750
Rehab costs:
$0
Initial cash invested:
$51,750
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$180,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,153
Property tax:
$148
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,427

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (8%)
8%-$148-$1,779
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (33%)
33%-$598-$7,179

Cash Flow


Monthly Yearly
Net operating income:
$1,094 $13,128
Mortgage payments:
-$1,153 -$13,836
Cash flow:
$59 $708