High ROI Rental in College Park
Asking Price: $38,900
This 3 beds / 2.5 baths townhome is in a great location in South Fulton. Convenient to I-285, I-85, close to airport, shopping and schools. This property is only 7 minutes walk to Creek Park where you can you enjoy sports and recreation.
The complex is gradually being upgraded by new owners and new HOA management intent on improving property values. New townhomes in the complex next door are selling for $150,000+. Buy now before values here rise too. Needs new AC condenser, paint, flooring and miscellaneous cosmetics. Furnace and water heater are good. Power is on. HOA is responsible for the exterior.
Fulton County Housing Authority has confirmed they will approve $1330/mo for a Section 8 tenant. $200/mo HOA (currently includes water service until sub-metering occurs) gives you $1130/mo net rent. Spend $10-20k to update this unit and you’re around a 2% return per month! HOA water meter assessment of $2500 already paid! Two units in the neighborhood get $100/night on AirBnB so you could get an even higher ROI with that route.
Note that GPS usually directs you to the wrong side of the complex, so follow the street signs to find #2303.
Here are some recent sales in the same complex:
- 1204 Pine Tree Trl; 3/2.5; 1,466 sqft; sold 02/09/19 for $43,650
- 709 Pine Tree Trl; 4/2; 1,580 sqft; sold 01/01/19 for $38,000
- 3202 Pine Tree Trl; 3/2.5; 1,468 sqft; pending at $39,900
- 202 Pine Tree Trl; 3/2; 1,688 sqft; pending at $45,000
- 1202 Pine Tree Trl; 3/3; 1,466 sqft; for sale $54,500
- 1111 Pine Tree Trl; 3/3; 1,466 sqft; for sale $79,900
Call/text/email Jeff for more information at 678-809-5588 or firstname.lastname@example.org.