Want to sell my rental property in Conyers, GA

[Sabrina Long]

INVESTMENT PROPERTY OPPORTUNITY

Rental Property for Sale - Sold As-Is

Asking Price:

$475,000

Rehab Estimate:
+/- $18,000

Property Details:

• Size: 3,110 sq ft
• Bedrooms: 4
• Bathrooms: 3
• HVAC: 2019
• Electrical: 2019
• Plumbing: 2017 (needs attention)
• Roof: 2017
• Inground Pool: 7 ft pool
• Utilities: Gas, electric, and water (tenant responsibility)
• Annual Taxes: $7,959
• HOA: No

Rental & Lease Information:

• Current Rent: $2,850/month (Tenant pays by the 3rd)
• Lease Term: Long-term tenant with a 3-year signed lease ending on August 1, 2027
• Opportunity to Increase Rent: No stipulation in current lease regarding rent increases after August 1, 2025. Rental properties in North Park Subdivision average $3,200.

Investment Metrics:

• Net Operating Income (NOI):
• $27,000 annually
• Cap Rate:
• 5.7% based on asking price
• Cash Flow:
• Positive cash flow, generating consistent monthly profits.

Market Trends & Nearby Developments

• Steady Rental Demand: The Conyers rental market is experiencing continued growth, fueled by its proximity to the greater Atlanta area. Rental rates in Conyers have been increasing at a rate of 5-10% annually.
• Rockdale County Courthouse: A $140 million courthouse development will modernize local infrastructure and likely spur further demand for rental properties.
• Rockdale Medical Center: The nearby hospital is a key employer in the region, attracting healthcare professionals and driving demand for rental properties.
• Opportunity for Appreciation: As Conyers continues to grow, property values are expected to rise. The ongoing infrastructure improvements and local development projects will likely contribute to both higher rents and property values, making this a great long-term investment.

Legal & Title Information:

• Clear property title
• Tenant leases available for review
• No pending legal issues or evictions