BUILT TO RENT: New Modern Home for Investors in Griffin, GA
Griffin Modern LLC is proud to unveil its first completed home in Griffin, GA—a 2-bedroom, 2.5-bathroom property that marks the beginning of an exciting new chapter in this growing community. This modern home is part of Griffin Modern's mission to create affordable, high-quality residences within walking distance of downtown Griffin. The city is known for its vibrant downtown area, which boasts a variety of restaurants, bars, breweries, coffee shops, ice cream parlors, and more—all within a lively, welcoming atmosphere. Adjacent to this bustling hub, affordable residential lots have remained available, particularly after decades of urban renewal and the city's efforts to address blight. Approximately 30% of this area is made up of vacant lots, creating a prime opportunity for real estate development.
Griffin Modern is taking full advantage of this landscape, acquiring lots for under $10k and developing homes targeted at young, first-time buyers as well as investors. Currently, six properties are under development, with many more planned for 2025 and beyond.
This inaugural home, built for an investor, was completed for $275k and offers an impressive cash flow of about $500 per month. For a closer look at this property, you can explore the photos here: https://www.dwell.com/home/aura-small-home-plan-bc2c7082
Why Build New in Griffin?
1. Low Lot Costs: Land prices in Griffin are exceptionally affordable. For example, this 30x105 lot was purchased for just $5,500.
2. Favorable Zoning: Griffin’s “MDR in-fill” zoning allows for smaller homes on compact lots without the need for variances, simplifying the building process. The local permit office is also known for its efficiency and helpfulness.
3. Affordable Construction: Thanks to the small footprint of these homes, Griffin Modern’s designs avoid costly engineered lumber. The Aura frame package, for instance, came in at just $5,000. By sourcing directly from trusted factory partners, Griffin Modern saved significantly on key elements like the Pivot door, floating staircase, glass handrail, and casement windows—items that normally cost 30% more when purchased at retail. For example, the 10-foot, 3-panel sliding patio door was just $800.
4. Quick Build Time: These homes, built on slab foundations, can be completed in as little as 4 months. The permitting process takes just about 3 weeks.
5. Waived Fees: For vacant lots that previously had homes, water meter and sewer tap impact fees are waived. This can save $6,000-$7,000 in upfront costs.
6. Low Maintenance & Energy Efficiency: New homes require significantly less maintenance compared to older properties, plus they are built with energy efficiency in mind, making them more cost-effective in the long run.
7. Open Floor Plans: The design of these homes features open layouts that feel larger and more spacious than they actually are, making them ideal for entertaining and day-to-day living.
8. Prime Location: Downtown Griffin is quickly becoming one of Georgia’s hidden gems. With its growing popularity, the area is undergoing a revitalization, and lots within walking distance of downtown are still affordable—though that won’t last long. The area’s charm is becoming widely known, and now is the perfect time to invest.
Challenges to Consider
1. Commute to Atlanta: While Griffin is just a 45-minute drive from downtown Atlanta, it may not be ideal for those who need to be in the city office every day. However, it's perfect for remote workers or those who only need to commute occasionally.
2. Ongoing Development: While new housing is coming to the area, Griffin is still in the early stages of its redevelopment. The tornado that hit last year destroyed around 50 homes, contributing to the area’s high vacancy rate. While new developments are on the rise, it will take a few years for the community to fully revitalize and achieve a more cohesive look. However, these early stages also mean that there are still significant opportunities to invest at low prices.
Griffin offers an exciting opportunity for investors looking to capitalize on the early stages of urban renewal. With its affordable land, favorable zoning, low construction costs, and vibrant downtown, it's a prime location for both new developments and long-term growth. The future is bright for Griffin, and Griffin Modern LLC is proud to be part of the transformation.
