507 W Main St Save Request In-Person Tour Request Virtual Tour
Forsyth,GA 31029
Key Details
Property Type Multi-Family
Sub Type Multi Family,Quadruplex
Listing Status New
Purchase Type For Sale
MLS Listing ID 10550216
Year Built 1940
Annual Tax Amount $776
Tax Year 2024
Lot Size 0.770 Acres
Property Sub-Type Multi Family,Quadruplex
Property Description
Here is your opportunity to own an incoming producing property in a great workforce market in Forsyth, GA. There are 2 duplexes with a history of strong cash flow. All units have been remodeled, except for Unit B-which is currently vacant and ready for finishing touches. Bldg 1 built in 1940; Bldg 2 built in 2008. You can purchase a multi-unit property with 2 to 4 units (duplex, triplex, or fourplex) using a standard FHA 203(b) loan. Requirement: You must occupy one of the units as your primary residence for at least one year. Benefit: This allows you to generate rental income from the other units, potentially offsetting your mortgage payments. Low Down Payment: You can make a down payment as low as 3.5% if your credit score is 580 or higher. A 10% down payment is required for credit scores between 500-579. Flexible Credit Requirements: FHA loans generally have more lenient credit requirements compared to conventional loans. Please do not disturb the tenants.
Location
State GA
County Monroe
Interior
Heating Central
Cooling Central Air
Exterior
Parking Features Carport,Assigned,Off Street,Parking Pad
Community Features None
Utilities Available Electricity Individual Meters
View Y/N No
Building
Sewer Public Sewer
Water Public
Structure Type Wood Siding
New Construction No
Schools
Elementary Schools Hubbard
Middle Schools Other
High Schools Mary Persons
Others
Special Listing Condition Updated/Remodeled