2124 Hickory Bnd SE - Multi-Family FOR SALE


Conyers, GA 30013
$410,000 USD
404-585-8881
2124 Hickory Bnd SE, Conyers, GA for Sale
$410,000 USD
Multi-Family - FOR SALE
1/16
null | 7.91% Cap Rate

2124 Hickory Bnd SE
Conyers, GA 30013


OVERVIEW

Over $70,000 in renovations/upgrades in 2021. Unit A rents for $1,560/month and Unit B for $1,657/month, generating a total monthly income of $3,217, or $38,604 annually. With estimated annual expenses at 16% of gross income ($6,176.64), this property delivers a solid Net Operating Income of $32,427.36 and a cap rate of approximately of 7.91%. Assuming a 20% down payment and a 30-year fixed mortgage at a 6.5% interest rate, annual debt service is estimated at $24,872.40. This results in an estimated pre-tax cash flow of approximately $630/month or $7,555/year in the first year - making this duplex a compelling option for investors seeking steady returns. MARKET RENT POTENTIAL: Average rents for 3-bedroom rentals in this area are currently around $1,775/month. At that rate, total monthly income would increase to $3,550, or $42,600 annually. With the same 16% expense ratio, operating expenses would be approximately $6,816, resulting in a Net Operating Income (NOI) of $35,784. This would raise the cap rate to 8.73%. With a $410,00 purchase price, a 20% down payment ($82,000), and an estimated annual debt service of $24,864, projected cash flow would increase to $10,920/year - delivering an improved cash-on-cash return of 13.3%.

FOR SALE DETAILS

PRICE

$410,000 USD

PRICE/SF

$100 USD /SF

# OF UNITS

2

PRICE/UNIT

$205,000

CAP RATE

7.91%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2124 Hickory Bend SE

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1984

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

077-A-02-0064

ASK ABOUT THIS PROPERTY

Janice OverbeckKeller Williams RealtyMore Info
404-585-8881

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Janice OverbeckKeller Williams RealtyMore Info
404-585-8881

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.