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2611 Golfview Ter SE 2 Unit Apartment Building Offered at $390,000 at a 6.36% Cap Rate Conyers, GA 30013
Executive Summary
Unit 2609 currently rents for $1,230/month, and Unit 2611 is currently vacant. If unit 2611 is to rent for $1,230/month, generating approximately $29,520 in gross annual income. Estimated annual operating expenses are approximately 16% of gross income ($4,723), resulting in a Net Operating Income (NOI) of approximately $24,797. Based on a $395,000 purchase price, 20% down payment, 30-year amortization, and an estimated 6.3% interest rate, projected annual debt service is approximately $23,470. This results in an estimated annual cash flow of approximately $1,327 and a cap rate of approximately 6.3%, making this an attractive opportunity for investors seeking long-term appreciation with immediate income and upside potential. MARKET RENT POTENTIAL: With average 3-bedroom rents in the area currently around $1,500/month, total monthly rental income could increase to approximately $3,000/month or $36,000 annually. At market rents, the estimated NOI increases to approximately $30,240, annual cash flow improves to approximately $6,770, and the projected cap rate increases to approximately 7.7%, providing significant upside through future rent growth and increased returns.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $390,000 | Property Type | Multifamily |
| Price Per Unit | $195,000 | Building Size | 2,778 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 6.36% | No. Stories | 2 |
| No. Units | 2 | Year Built/Renovated | 1979/2026 |
| Price | $390,000 |
| Price Per Unit | $195,000 |
| Sale Type | Investment |
| Cap Rate | 6.36% |
| No. Units | 2 |
| Property Type | Multifamily |
| Building Size | 2,778 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1979/2026 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 2 | $1,213 | 1,680 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 077-A-01-0004 | Improvements Assessment | $92,960 (2025) |
| Land Assessment | $46,160 (2025) | Total Assessment | $139,120 (2025) |
Property Taxes
Parcel Number
077-A-01-0004
Land Assessment
$46,160 (2025)
Improvements Assessment
$92,960 (2025)
Total Assessment
$139,120 (2025)
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2611 Golfview Ter SE