SW Atlanta, GA 30315
This 3 bed 2.5 bath property was bought with a sitting tenant. It has a garage, which is very unusual for this area and price point. The total acquisition cost was only $48,050, which made it very affordable from a South African investor perspective. This was an incredible purchase in that the replacement cost of the property at the time was around $110,000. The community has a swimming pool and a clubhouse. We had to honour the existing lease, but the market rental was quite a bit higher.
This very affordable property was bought for an initial net yield of 10%
Use the map to get an idea of the area. For security purposes we have not identified the actual property on the map.
|Total capital investment||$48,050|
|Gross monthly rent||$775|
|Monthly operating expenses||$356|
|Net monthly rental||$419|
|Initial net yield||10%|