🌟 Unique Investment Opportunity: Prime Location Near East Forsyth High School 🏡 - NOW VACANT!!!!

Forsyth County, Gainesville, GA, 30506 view full address
Expired
Listed at: March 28th, 2024
Price
$200,000
Sq. Footage
1612
Type
Single-Family
Parking
Driveway
Year build
1931
Lot size
1.63 acres
Bedrooms
2
Bathrooms
1
Half Bathrooms
0
Summary

Unlock the Potential:

  • Current Use: Generates $1,100/month with a long-term tenant, set to vacate end of April.
  • Land Size: Sprawling 1.6 acres, offering ample space for creative development.
  • Future Potential: Ideal for buy-and-hold strategy at market rent or redevelopment into 1-2 homes.

Investment Highlights:

  • 🚸 Across From East Forsyth High: Desirable location for families, enhancing rental and resale appeal.
  • 🏗 Nearby New Construction: 5 new homes recently built behind the property, indicating strong area growth.
  • 💼 Flexible Options: Continue as a rental for steady income or capitalize on the lot size for development.
  • 💡 Market Rent Opportunity: With the current tenant vacating soon, reset to market rent for higher returns.

Key Advantages:

  • 📚 Proximity to Top Schools: Located directly across from the highly sought-after East Forsyth High School.
  • 🏠 Development Potential: Unique chance to tear down and build in a growing community.
  • 🌳 Spacious Lot: 1.6 acres provides a rare canvas for new construction or expansion.

Why This Property?

  • 🔨 Build or Hold: Versatile investment options to either develop now or benefit from increasing rental demand.
  • 📈 Area Growth: Surrounded by new construction, indicating a high-growth potential.
  • 🎓 Educational Appeal: Families will love the convenience of having top-rated schools nearby.

🚀 Don't Miss Out: A versatile property offering both immediate rental income and long-term development potential in a prime location!

 

LAND COMPS IN EAST FORSYTH HIGH DISTRICT HERE

Link to video from move-in 5 years ago HERE

Tenant has had a few repairs done over 5 years. Home is on well water but can be tied into county at the street. Do not have current interior photos, but tenant has well-maintained home.

 

NOW VACANT!!!!!!!!!!! REACH OUT FOR ACCESS INSTRUCTIONS!!!!

 

Street View
Location
current deal
comparables
#2
available
$123k
sold
$99k
Bedrooms
Bathrooms
Sq. footage
Deals nearby
Available
Sold
Contact