Photo 1 of 1
$625,000
Sold on 1/06/22
| Beds |
Baths |
Sq. Ft. |
Taxes |
Built |
|
0.00 |
0 |
$1,338 |
1985 |
|
On the market:
171 days
|
View full details, photos, school info, and price history
New Roof Feb 2021! Newer A/C units; Dual Pane Windows; Kitchens & Bathrooms remodeled in 2010. Full Sized Washer/Dryer in Indoor Laundry in each unit! Copper Plumbing; Romex Wiring. Large 2/1 units with ~915sf each Private Patios with Block Fencing No HOA; Seasoned Tenants paying below market rents. Median rents in area are $1157/mo! (Rentometer) .All tenants have been there between 4 - 12 years very close to Lookout Mountain. Pro-Forma P&L: Rents $1150 * 4 units * 12 months = $55,200/yr; insurance ($1384); Taxes ($1388): Water, Sewer, Trash ($4560); Maintenance ($2000) esti; House Lights ($540); Net Cash Flow = $45,328. Here is the info I have. The below Pro-Forma shows rents once raised to market values. The expenses are those per previous owner.
Current rents are $650/mo and 3 of the 4 tenants are MTM. We haven't raised rates, since we just recently purchased it (off-market) and wanted to let the next Owner raise them and use their preferred lease template/terms.
Recent Improvements:
Prior owner replaced roof in January 2021.
The A/C units were replaced on these months/years: Unit 1 6/16 Unit 2 8/20 Unit 3 4/18 Unit 4 6/17.
Copper plumbing per prior owner.
August 2021 we just completed new paint on the exterior fascia/trim and staircases. Scraped/sanded, caulked, primed, and painted.
Listing courtesy of Gregory Johnson, JUST CALL JIM INC