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Listed by Tommy Cangelosi Landmark Realty and Investments, LLC
$99,900
Est. payment /mo
4 Beds
2 Baths
1,317 SqFt
New
73 E MLK Jr Ave Lakeland, GA 31635
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Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,317 sqft
Price per Sqft $75
Subdivision Mlk
MLS Listing ID 153448
Bedrooms 4
Full Baths 2
HOA Y/N No
Lot Size 9,147 Sqft
Lot Dimensions .21
Property Sub-Type Single Family Residence
Property Description
Solid brick 4 bedroom, 2 bath home priced under $100,000 with immediate income potential. This property was most recently rented for $1,295 per month, offering a rare opportunity to step into a cash flowing asset at an affordable price point. The roof has been replaced within the last five years, helping reduce near term capital expenses. Based on prior rental history, the property generates approximately $15,540 in annual gross income. Using a conservative 30% expense ratio, the estimated net operating income comes in around $10,878 annually, resulting in an approximate cap rate of 10.8%+ at a $100,000 price point. For leveraged buyers putting 20% down, this deal projects a cash on cash return in the 30%+ range, making it a strong performer for both new and seasoned investors. With durable brick construction, four true bedrooms, and strong rental demand in this price range, this is the kind of opportunity that does not last long. Whether you are looking to expand your portfolio or secure your first investment property, this one checks the boxes. Listing agent is one of the owners.
Location
State GA
Area 10-Lanier County
Zoning R
Interior
Heating Central
Cooling Central Air
Appliance Refrigerator, Electric Range
Exterior
Parking Features Other
View Y/N No
Garage No
Building
Lot Description Irregular Lot
Story 1
Sewer Public Sewer
Water Public
Level or Stories One
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