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Mickey Hyams | REALTOR

[email protected] +1(404) 435-3400

$ 349,000

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507 W Main St Forsyth, GA 31029

0.77 Acres Lot

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Key Details

Property Type Multi-Family

Sub Type Multi Family,Quadruplex

Listing Status New

Purchase Type For Sale

MLS Listing ID 10550216

HOA Y/N No

Year Built 1940

Annual Tax Amount $776

Tax Year 2024

Lot Size 0.770 Acres

Acres 0.77

Lot Dimensions 33541.2

Property Sub-Type Multi Family,Quadruplex

Source Georgia MLS 2

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

Rooms

Basement None

Interior

Heating Central

Cooling Central Air

Fireplace No

Exterior

Parking Features Carport, Assigned, Off Street, Parking Pad

Community Features None

Utilities Available Electricity Individual Meters

View Y/N No

Garage No

Private Pool No

Building

Faces GPS friendly.

Sewer Public Sewer

Water Public

Structure Type Wood Siding

New Construction No

Schools

Elementary Schools Hubbard

Middle Schools Other

High Schools Mary Persons

Others

HOA Fee Include None

Tax ID F07 027B

Special Listing Condition Updated/Remodeled

Mickey Hyams | REALTOR

CEO

+1(404) 435-3400

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Cumming, GA

Mickey Hyams | REALTOR

507 W Main St Forsyth, GA 31029

Key Details

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Rooms

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Schools

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507 W Main St