Last week we cast the spotlight on Houston – but this week we’re back to another favorite market of ours: Atlanta (or, as we like to call it, Hotlanta). We found a house that comes with all the bells and whistles – right outside of the main city. It’s got lots of curb appeal and it shows: the property sells with tenants already in place. So, why do we love Atlanta? To fill you in quickly: Atlanta is a happening city right now for real estate investing. Forbes voted it the best rental market in the country for 2013 – and this city is full of renters and great deals. A real estate investor’s dream? Absolutely. If you want turn-key and easy – Atlanta is the city for you.
Location: Covington,GA. Single-Family Home. Built In: 2004
Purchase price: $105,555 (not a foreclosure, normal sale)
Property info: 4 bedroom, 2 bathroom, 1,209 square feet
Monthly rent collected: $1000
Property taxes: $58
Home Owner’s Association Fee: $0
Property management fees: $100
Monthly expenses (conservatively estimated)
Vacancy (7%): $70
Repairs (5%): $50
Total Monthly Expenses- $308
Net Income = Income – Expenses = $692
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 7.87%
Cash-on-cash return =
Depends on your leveraging.
If you are interested in this property or seeing others like it, contact Melissa at firstname.lastname@example.org.