119 Pearce Drive, Warner Robins, GA 310933 Beds, 1 Bath, 1,168sfFenced Back YardNew roof with architectural shingles, recently replaced central heating and air, hardwood floors are in good condition with carpet on top.Comparable Rents $650-700Work Needed: NoneWork to get top Market Rate: Pressure wash exterior, trim hedges, Pull up dated carpet and refinish hardwood floors, touch up paint inside/outside, minor fascia repair in several places. INVESTOR TIP: You should always try to buy investment properties that will CASH FLOW well at a price equal to 50 x Rent or less. That's called the 2% rule. I.e. if a house rents for $500 per month you should pay no more than $25,000 for it INCLUDING repairs. On this house if you want top market rent of $700 your upper limit on purchase price would be $35,000 minus $5,000 in repairs to get that rental amount. So you should pay no more than $30k for this house to meet the 50xRent multiplier and get great cash flow. Well, just go ahead and get ready to steal this house because all I'm asking is $27,500 OR BEST OFFER. That's 46x the rent If you finance at 7 put down 10% and pay $5,000 for the repairs out of your own pocket that's a Cash outlay of $7,750 and gives you a monthly payment of $222.46 plus taxes and insurance of $100 per month estimated total and your total payment is 323. That means you cash flow over $350/mo and you have an ROI of 58 Take a look at the pictures below to see how well this house has been kept. I can be more flexible on price depending on how fast you can close. You are crazy if you don't call me at 478-284-4158. First $1,000 earnest money gets it. P.S. - The house next door at 117 Pearce Drive is also for sale, on the MLS, for $39,000. I have no connection with 117 Pearce Dr.
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