Well cared for condo 10 mins from Military Base (NSBKB). With not much left to do (paint is really it), seller was planning on keeping for a hold and staying local and got this far before orders to leave and doesn't want to be a virtual out of state landlord. This would be a quick flip or truly the best strategy is as a long term hold with the stable guaranteed military income from a rental. Both neighbors currently rent their properties to active duty for 1600 p mo each. Seller is relocating for work and needs out asap ---> trying to get this moved by End of JAN or early Feb!

Was Primary residence for a master electrician, who upgraded interior to be a smart home. Installed a brand new backup generator for hurricane. New fridge and stove convey. Super low HOA of $55 per month takes care of everything exterior, lawn and maintenance etc. Pool in neighborhood, Lake that you can fish in and a half mile from schools and half a mile from sub stations makes this a great long term rental buy/hold.

If you were all in at 160k with closing costs etc this property would still meet the 1% rule for buy/hold and at approx $19,200 per year of income - 10% operating expense = 17,280 NOI which would put this at a CAP rate of 12%

COMPS:

101 E Lakemont Dr, Kingsland, GA 31548 --> 3/2 with 1,435 sq ft. sold for 206k in 2022 at $143 p sq ft. --> this is closest to our subject property in layout and is across the street but our subj has fully upgraded electrical, backup generator, smart home etc as opposed to no upgrades, just fresh paint on this prior sale.

165 B E Lakemont Dr, Kingsland, GA 31548 --> 2/2 with 851 sq ft. sold for 127k at $149 p sq ft. --> our subject property down the street and is in better shape, better location.

227 W Lakemont Dr #B, Kingsland, GA 31548 --> 2/2 with 891 sq ft sold for 153k at $171 p sq ft -- our subject property is in better shape, and backs up to the lake this does not.

Seller needs out asap. Speed is priority for seller and our team.

Text, call, email etc with any Qs