This large three bedroom house is located in a quite cul-de-sac in Lithonia, just 17 miles from Downtown Atlanta. This property has three large bedrooms, a large basement and a huge rear garden, the property comes on a 8,712 sqft lot This property is also tenant occupied by a great tenant paying $950 rent a month, it is under management by one of the leading Atlanta property management companies.
Lithonia is a quiet area just 17 miles from Downtown Atlanta, the area is close to Stone Mountain which is famous for its mountain trails and cable car views. Lithonia has many good schools and local colleges and offers a country feel while still only a short commute to Downtown.
Purchase price: $83,500
Gross annual rental income: $11,400
Property running costs: $2,740
(Tax, insurance and management costs)
Net annual rental income: $8,660
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 11%