🤓 $940/mo SEC. 8 Cash Cow in Augusta

Richmond County, Augusta, GA, 30901
Sold
Listed at: March 29th, 2023
Price
$49,900
ARV
$95,000
Gross Margin
$45,100
Sq. Footage
1426
Type
Single-Family
Parking
Driveway
Year build
1955
Lot size
0.13 acres
Bedrooms
4
Bathrooms
2
Half Bathrooms
0
Summary
***You will need to request the address & wait 5-10 minutes for me or my assistant to verify & send to you***


Asking Price: $49,900
Win It Now Price: $55,000
Profit Potential:
Brick front - One of the only 4 bedroom homes in this area.
Currently has Sec 8 tenant with a $940/month lease set to end June 1st, 2023, but this tenant wants to renew.
You can keep renting it out to this tenant or wait until the lease expires, do a turnkey rehab, and get market rent at $1350/mo or get a new Section 8 tenant at $1200/mo

Occupancy: Tenant Occupied. Buyer must purchase with current tenant paying $940/mo
Access: By Appointment (Contact Me)

1) Basic:
Bed/Bath: 4/2
Square Ft: 1426
Year Built: 1955
Parking: Driveway
Lot size: .13 acre

2) Numbers:
Asking Price: $49,900
Win It Now Price: $55,000
Market Rent: 1350/mo (4 beds)
ARV: $95,000
Rehab: See pictures.

3) Comps in the same neighborhood
1123 Roselle St: $80,000 March 2021
3/1/1176sqft/1936YB
1155 Roselle St: $77,900 March 2022
3/1/1016sqft/1921YB
1149 Mercier St: $60,000 August 2022 Sold to Investor
3/1/1490sqft/1911YB

5) Rent Comps:
9 Sherman Street: $1500/mo January 2023
.4 mi - 3/1.5/1600sqft/1933YB


DISCLAIMER: This is an assignment of contract. A legally binding purchasing contract with memorandum has been signed with the Seller giving this company exclusive rights to purchase the property. Any attempts to renegotiate or make conta
Street View
Location
current deal
comparables
#2
available
$123k
sold
$99k
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Michael Chung

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