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2537 ARGONNE DR Augusta, GA 30906
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Key Details
Sold Price $80,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 888 sqft
Price per Sqft $90
Subdivision Pine Heights Eastern
MLS Listing ID 508291
Sold Date 11/23/22
Style Other,Ranch
Bedrooms 3
Full Baths 1
Construction Status Updated/Remodeled
HOA Y/N No
Originating Board REALTORS® of Greater Augusta
Year Built 1954
Lot Size 9,583 Sqft
Acres 0.22
Lot Dimensions 70X135
Property Sub-Type Single Family Residence
Property Description
Excellent investment opportunity ~ 11% CAP. 16% Cash on Cash Return at 7% interest rate with 80% LTV. Tenant in place through 10/31/23. Current rental income of $1090/mo or $13,080/yr. Home features all new plumbing and water heater (2020), 30 yr architectural shingle roof (2020), vinyl windows (2020), low maintenance vinyl siding (2022), paint (2022), Luxury Vinyl Plank flooring (2020), HVAC (2020), cabinets (2020), and counters(2020). Property has been used as an investment for almost 3 years. With a long waiting list for 3 bedroom vouchers and extremely low inventory this property will always stay rented. The housing program in Augusta has increased 3br rents 39% from $785 to $1090 in just 2 years!! This trend should continue. Minimal operating costs will allow new owners to maximize returns. Flood Insurance available for as little as $50.00/mo. thru Blanchard and Calhoun. Please take this into account when calculating expenses. Current NOI - $11,615. Projected NOI w/ Flood insurance and new tax assessment (Conventional) - $10,606. Projected NOI w/o Flood insurance and new tax assessment (Cash Buyer)- $11,206.
Location
State GA
County Richmond
Community Pine Heights Eastern
Area Richmond (2Ri)
Direction Windsor Spring to Abelia Dr. Turn onto Argonne Dr. Home is on the Right.
Interior
Interior Features Other, Smoke Detector(s), Washer Hookup, Electric Dryer Hookup
Heating Other, Electric, Heat Pump
Cooling See Remarks, Other, Central Air
Flooring Vinyl
Fireplace No
Exterior
Exterior Feature Other
Parking Features Gravel
Fence Fenced
Community Features See Remarks, Other
Roof Type Other,Composition
Porch Other
Building
Lot Description Other
Foundation Other, Slab
Sewer Public Sewer
Water Public
Architectural Style Other, Ranch
Structure Type Other,Vinyl Siding
New Construction No
Construction Status Updated/Remodeled
Schools
Elementary Schools Haines
Middle Schools Murphy
High Schools Butler Comp.
Others
Tax ID 1102259000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Not Applicable
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