$320,000
$284,000
12.7%For more information regarding the value of a property, please contact us for a free consultation.
10 Beds
3 Baths
2,834 SqFt
SOLD DATE : 01/16/2024
Key Details
Sold Price $320,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 2,834 sqft
Price per Sqft $112
Subdivision Rainbow Estates
MLS Listing ID 7315832
Sold Date 01/16/24
Style Traditional
Bedrooms 10
Full Baths 3
Construction Status Resale
HOA Y/N No
Originating Board First Multiple Listing Service
Year Built 1963
Annual Tax Amount $3,647
Tax Year 2022
Lot Size 0.600 Acres
Acres 0.6
Property Description
Generating over $7,000 per month in gross rental income ($85,000+ per year), this seasoned PadSplit coliving home offers a unique combination of cash flow and turnkey management in a sought-after location. This 4-sided brick home on a beautiful lot in Decatur. It's close to interstates and major arterials, ensuring superb connectivity. The home is leased to one tenant, PadSplit, which hosts the property on their platform. PadSplit not only helps members save money and live closer to work but also provides an avenue for investors to achieve 3x+ cash flow. All members are professionally screened by PadSplit, required to pass a criminal background check and undergo income verification. PadSplit handles inbound requests from members and enforces house rules. One rent payment is direct-deposited into the owner's bank account based on the home's previous month's performance. Sold with an optional top-rated superhost who coordinates cleaning and repairs, this property is ideal for any investor, regardless of their capacity. In a time when cash flow is hard to find, this turnkey rental defies the odds. It doesn't just meet the '1% rule,' it blows it away. Contact us today for preferred lenders if you need financing. If PadSplit is new to you, please Google 'PadSplit' to learn more about this game-changing affordable housing solution before calling.
Location
State GA
County Dekalb
Lake Name None
Rooms
Bedroom Description Master on Main,Roommate Floor Plan
Other Rooms None
Basement Finished
Dining Room None
Interior
Interior Features High Speed Internet
Heating Central, Natural Gas
Cooling Electric
Flooring Ceramic Tile, Laminate
Fireplaces Type None
Window Features None
Appliance Dryer, Electric Oven, Electric Range, Electric Water Heater, Refrigerator, Washer
Laundry In Basement
Exterior
Exterior Feature Rain Gutters
Garage Carport
Fence Back Yard
Pool None
Community Features Near Schools, Restaurant, Street Lights
Utilities Available Cable Available, Electricity Available, Phone Available, Sewer Available, Water Available
Waterfront Description None
View City
Roof Type Composition
Street Surface Asphalt
Accessibility None
Handicap Access None
Porch None
Private Pool false
Building
Lot Description Back Yard, Front Yard, Level
Story Two
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Traditional
Level or Stories Two
Structure Type Brick 4 Sides
New Construction No
Construction Status Resale
Schools
Elementary Schools Columbia
Middle Schools Columbia - Dekalb
High Schools Columbia
Others
Senior Community no
Restrictions false
Tax ID 15 123 11 022
Ownership Fee Simple
Acceptable Financing Cash, Conventional, VA Loan
Listing Terms Cash, Conventional, VA Loan
Financing no
Special Listing Condition None
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