Conveniently located close to Brenau College, City Center of Gainesville, Shops and restaurants, and 4 doors from New Desota Park! This is a great opportunity to add a high ROI rental property to your portfolio and be well over the “1% Rule”. In its current state, start cashflowing immediately and when tenants move out next year, a light rehab allows almost 50% increase in rental rates. This is on a quiet street in an upcoming area in Gainesville. Many houses like this being renovated and the area is improving quickly.
Rental Renovation Budget – $10k – $15k
Currently rented for $675/mo until 7/2019
Rent for $1,000+/mo after current lease
Comps in the area:
738 Summit St SE Gainesville, GA 30501 – SOLD $135,000 08/18
1033 Cloverdale St SE Gainesville, GA 30501 – SOLD $128,000 08/18