3/1 rental in Norcross, GA (Gwinnett Co) with long term tenants

[Heather W.]

Ready to own a rental in a rapidly appreciating area just outside of Atlanta?  

      With access to great schools and surrounded by rapidly appreciating properties, this pocket of Norcross is poised to be a valuable part of your portfolio.   

     The house is on a slab on a large lot.  The current tenant is low maintenance.  He grew up in the house with his parents and chose to stay in the house 5 years ago when his parents moved to the country. He's on a MTM lease paying $800/m and would like to stay.  The roof was replaced less than 10 years ago as was the water heater, but the interior of the house has not been updated since the tenants have been in place (> 20 years).  The good news is the much higher comps in the area give you the flexibility to update the house and still have equity.

Price- $53,500

2014 Taxes Estimate- $1,159

Current Monthly Rent- $800 (no increases in more than 20 years)

Rentometer: Median $900

https://www.rentometer.com/results/8Oajb--_F5o

Rent Zestimate: $1,060

Comps-

5393 Button Gwinnett Pl- 3/1- Sold on 12/05/13- $79,000

1421 Marcelle Heights Pl- 3/1.5- Sold on 06/04/15- $80,100

1411 Marcelle Heights Pl- 3/1- Sold on 04/27/15- $80,000

1374 Walton Way- 3/2- Sold on 01/21/14- $72,500 5563 Button Gwinnett Pl- 3/2- Sold on 05/17/13- $100,000 5722 Hall Holw- 3/2- Sold on 01/06/14- $95,000 6018 Maryjo Ln,- 3/2- Pending sale- $88,000

Link to pictures/video

     Call or message me today for more details.  Please do not disturb the tenant.  We can schedule a showing with proof of funds.

Thanks!