Athens, GA Real Estate Deal: $98K Discount
Saturday, August 16th, 2008
Run your own analysis on this particular property. Use our new, FREE Offer Generator real estate investor tool to change our assumptions and use your own.
We have analyzed this deal to see how this particular single family home in Athens would be as a rental property. Read the article Income, Depreciation, Equity Build Up, Appreciation and Leverage in Deal Analysis for an overview of how I do the deal analysis below.
Where is this property?
It is located in Athens, GA. The property address is kept private to preserve the deals for our members. To work with our preferred investor friendly real estate agent/broker for this deal, contact us about Deal #2861 and they can give you the full details about this property and help you in purchasing it. This particular property was submitted to the Athens Real Estate Resources Website featuring real estate investor articles and local deals.
How did we find this property?
We found this property from one of our real estate investor friendly agents/brokers or one of the real estate investor wholesalers we know in the Athens area.
Learn to find motivated sellers using marketing in Drink From The Fire Hose of Motivated Sellers: Deal Finding. This CD is included as part of the 68 CD Ultimate Real Estate Investor Package that you get when you purchase any house we promote on the website through our recommended real estate agent or broker. To work with our preferred investor friendly real estate agent/broker for this deal, contact us about real estate Deal #2861 and they can give you the full details about this property and help you in purchasing it.
The Story
Before we get into our full analysis, here is some of the interesting story for this particular deal:
This property is not a cash flow candidate, but has a nice equity spread.
From the agent:
Beautifully updated 5 bedroom/3 bathroom home with large mature yard in prime Five Points location. Just renovated, this well maintained property offers bright rooms; ample storage; redesigned large open plan kitchen with stainless appliances, granite counters and bar, designer bar stools, fireplace with mounted high definition flat screen TV(included), and French doors to eat-out and grilling deck; formal dining room; all new contemporary master bathroom and all new 2nd modern traditional bathroom with jetted tub, double door organizational closets, refinished hardwood floors, solid doors, crown molding, new double-paned Pella windows, new roof with architectural shingles, carport, gardener’s shed, fenced backyard and much more. The lower level (walk-out basement) has two bedrooms, bathroom, kitchenette, spacious great room with fireplace overlooking the back garden, linen and storage closets, and a mud/laundry room. The private entrance allows this space to work as an in-law suite.
Read How To Overcome the Fear of Making Your First Real Estate Offer for Investors.
Property Details
- Bedrooms: 5
- Baths: 3.00
- Square Footage: 3,600 (see square footage estimates for info)
- All information is deemed reliable, but is pulled from tax records, real estate agent, zillow or the seller.
Income
- Gross Rent: $2,200/month (see Rent Estimates for more info)
- 4.00% Vacancy Adjustment: $88/month (see Vacancy Estimates for more info)
- Net Rent: $2,112/month
- NOTE: These numbers are for traditional rental income and NOT a rent-to-own. Rent-to-own analysis follows below.
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