Atlanta, GA Ranch

REO fever is really spreading around Atlanta these days… REO houses, like this 2-bedroom ranch listed for just $14,900, are commonly selling for 10-20% of their typical prices of just 2 or 3 years ago. This house is in decent condition and is of full brick construction, making termite worries less of a concern. Situated very near Fort McPherson in a stable neighborhood, this one last sold for $95,000 over five 5 years ago (5/5/2003). Zillow.com estimates that this house is worth $142,500 (down quite a bit from its peak Zestimate of $205,000, circa 2006).


This presents a fantastic opportunity for an owner-occupant who wants to spend very little for his or her own housing; this house costs about as much as a new Toyota Yaris! A 2-bedroom single like this will easily rent for $700 to $800 in this strong rental market --- for an investor, the house will fully pay for itself in less than three years! That is the best ROI one will likely see outside of the rust belt. What makes Atlanta so lucrative for REO investing is that its economy is still going strong. This house can now be had for a price not seen for over 20 years. That fact combined with the great potential for cash flow here makes this one a real winner for anyone looking to invest in this region.



The basics...
Address: 1370 Westmont Road SW, Atlanta, GA 30311
Current Listing Price: $14,900
PREVIOUS Sale Price: $95,000
Size: 2 Bedrooms, 1 Bathroom; 1,050 square feet
Lot: .17 acres

http://www.realtor.com/realestate/atlanta-ga-30311-1097523472/