Cash-flow is king – we say that a lot, but it always merits saying again. Today’s property follows that principle. Why do we love this one? Simple: $94k. Yep, 94K & it’s a looker. Fully renovated, tenants in place (on a 3 year lease) with the option to buy at 30 percent more than you buy it for – this single family means two things: cash-flow and appreciation your investment. Now, Hipster can appreciate this kind of deal.
The property itself is located in Atlanta – and Atlanta is a hot market for investors right now. Employers, schools, snow-birds – the city has it all. It also has great cap rates and ROI for your dollars. A house with this much curb and cash appeal will likely go fast – however, we do have a few other great properties in Atlanta we haven’t introduced yet (just reach out to Hipster for more information).
Without further adieu, here’s today’s Hotlanta deal!
Location: Atlanta,GA. Built In: 2002
(fully renovated, leased for 3 years and comes with a 1 year eviction guarantee)
Purchase price: $94,00 (not a foreclosure, normal sale)
Property info: 3 bedroom, 2 bathroom, 1,522 square feet
Monthly rent collected: $900
Property taxes: $109
Property management fees: $90
Monthly expenses (conservatively estimated)
Vacancy (7%): $63
Repairs (5%): $45
Total Monthly Expenses- $343
Net Income = Income – Expenses = $557 !
Cap Rate =7.08%
Cash-on-cash return =
Depends on your leveraging.
If you are interested in this property or seeing others like it, contact Melissa at email@example.com.