EAV/Kirkland Deal - How lucrative?

[Ryan Aurand]

Hey ATL BP Community!

I have a deal about to be put under contract and I'm wondering if y'all think it's worth following through on. I'm particularly curious to hear everybody's thoughts because it's not in the immediate EAV neighborhood, but rather a half mile north of downtown EAV (in between Edgewood, Kirkwood and EAV). 

It's a Duplex currently renting for $2,400 but likely to reach $2,600-$2,800 in the coming years when one of the long-term leases is up and I can rent it out closer to the market rate. I am an FHA buyer and it looks like I'll get it under contract for ~$360k.

I have a sense for what the near-term inflows and outflows will look like, but I'm wondering how this group feels about this area for long-term (5-10 yrs) appreciation? Any input is greatly appreciated :)

[Ryan Aurand]

@Sam Mitchell one side 3/1 and other side 2/1. Built in the 1930's. No substation CapEx requirements needed at the moment.

@Matthew Nicklin Great point. This issue has been settled already with my lender as one of the tenants will be leaving before I close :) this almost killed the deal before...