714 Dowell Avenue, Waynesboro, GA

15.78% return

SP: $49,900

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Property Description

Value Add Opportunity. This is a brick extravaganza duplex in affordable neighborhood. Long term tenant has been there since beginning of time for 10+ years. Both units currently rented below market value one unit is currently occupied by a family member. Market rents in the area for one bedroom is $350 up to $450 for 2 bedroom. Tenant pays water, electric, gas and cuts their side of the lawn. Insurance only $190/year for farmer's bureau members. Relaxing fire place in each unit. City water and sewer. Separate water and electric meters.

Property Information

Listing statusSold
Property typeMulti Family
Total units2
Total bedrooms4
Total bathrooms2
Building size1375 sq. ft.
Lot size0.3 acres
Year built1949

CountyBurke County
SubdivisionWAYNESBORO
ConstructionCBS
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingWindow Unit
CoolingWindow A/C

Property Financial Summary

Sale price$49,900
Estimated rehab¹$0
Total investment$49,900

TypeProforma

Gross income (annually)$9,600
Operating expenses (annually)$1,728
Net income (annually)$7,872
Gross return19.24%

Gross income (monthly)$800
Operating expenses (monthly)$144
Net income (monthly)$656
Net return15.78%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 2 bed / 1 bath$400/month$4,800/year
Unit 2: 2 bed / 1 bath$400/month$4,800/year
Total$800/month$9,600/year

Expenses

Property Taxes$36/month$428/year
Insurance$58/month$700/year
Maintenance reserve$50/month$600/year
Total$144/month$1,728/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.