atlanta-real-estate-investing-market

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

Income

Monthly rent collected: $1000

Expenses

Monthly expenses

Property taxes: $58

Insurance: $30

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

 

Advanced Numbers

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 melissa@hipsterinvestments.com.

 

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