Bought with Brandon Beamer • Keller Williams Realty
$260,000
$244,000
6.6%For more information regarding the value of a property, please contact us for a free consultation.
9 Beds
3 Baths
0.34 Acres Lot
SOLD DATE : 02/23/2024
Key Details
Sold Price $260,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 10239863
Sold Date 02/23/24
Style Brick 4 Side,Traditional
Bedrooms 9
Full Baths 3
Construction Status Resale
HOA Y/N No
Year Built 1974
Annual Tax Amount $2,237
Tax Year 2023
Lot Size 0.344 Acres
Property Description
Eureka! You've found the ultimate cash-flowing rental. This expanded split-level PadSplit coliving home generates over $5,500 per month in gross rental income ($66,000+ per year). This investment offers a unique combination of cash flow and turnkey management. After expenses the CAP rate is over 16% and 34% cash-on-cash ROI. This fully occupied rental is conveniently located minutes from major employers, including Hartsfield-Jackson International Airport. Its proximity to I-75 / I-285 ensures superb connectivity for its occupants. The home is leased to one tenant, PadSplit, which hosts the property on their platform. PadSplit is a workforce housing solution that not only helps members save money and live closer to work but also provides an avenue for investors to achieve 3x+ cash flow of typical rental properties. All members are professionally screened by PadSplit, required to pass a criminal background check and undergo income verification. PadSplit handles inbound requests from members and enforces house rules. One rent payment is direct-deposited into the owner's bank account based on the home's previous month's performance. Sold with an optional top-rated Superhost who coordinates cleaning and repairs, this property is ideal for any investor, regardless of their capacity. In a time when cash flow is hard to find, this turnkey rental defies the odds. It doesn't just meet the '1% rule,' it blows it away. Contact us today for preferred lenders if you need financing. If PadSplit is new to you, please Google 'PadSplit' to learn more about this game-changing affordable housing solution before calling. Part of a portfolio, contact the listing agent if you are interested in purchasing multiple properties with a similar setup and ROI.
Location
State GA
County Clayton
Rooms
Basement Bath Finished
Main Level Bedrooms 6
Interior
Interior Features Roommate Plan
Heating Central
Cooling Central Air
Flooring Hardwood, Tile, Laminate
Exterior
Garage Off Street
Garage Spaces 2.0
Community Features None
Utilities Available Cable Available, Electricity Available, Sewer Available, Water Available
Roof Type Composition
Building
Story Multi/Split
Sewer Public Sewer
Level or Stories Multi/Split
Construction Status Resale
Schools
Elementary Schools Church Street
Middle Schools Riverdale
High Schools Riverdale
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Conventional
Special Listing Condition As Is, Investor Owned
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Broker | License ID: 303073
youragentkesha@legacysouthreg.com
240 Corporate Center Dr, Ste F, Stockbridge, GA, 30281, United States