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$295,000

Beds
Unknown
sq ft
Unknown

663 Magnolia St NW, Atlanta, GA 30314

663 Magnolia St NW

Atlanta, GA 30314

  • 81 days on market
Attention Investors! Back on the market at no fault to the Seller. This cash-flowing property boasts a 6.7% cap rate and is perfectly situated in the heart of Historic Vine City, steps from Mercedes-Benz Stadium and close to Atlanta's premier attractions, including HBCUs, Vine City MARTA, Castleberry Hills, Centennial Park, the Georgia Aquarium, Georgia Tech, and the new 16-acre Rodney Cook Sr. Park. With Atlanta's ongoing growth and redevelopment, this low-maintenance investment is primed for success. Currently operating as a Section 8-approved rental, the property features a newer roof, laminate flooring throughout, and low landlord expenses, ensuring easy cash flow with a tenant already in place. Take advantage of the high demand for housing in one of the city's most rapidly evolving neighborhoods. Sold As-Is with tenant in place-please do not disturb the tenant. Don't let this prime investment opportunity pass you by!

Details

Property type

Est. home value

$274,027

Lot size

4,356 sq ft

Price per sq ft

Unknown

Year built

1998

Annual property taxes

$4,168

HOA

No

Price History

01/13/2025
FMLS

FMLS #7493893

Listed
$295,000
12/06/2024
FMLS

FMLS #7493893

Pending
$295,000
12/04/2024
FMLS

FMLS #7493893

Listed
$295,000
+451.4%

Schools & Community

Neighborhood: 

Vine City

Elementary school: 

M.R. Hollis Innovation Academy

Middle school: 

M.R. Hollis Innovation Academy

High school: 

Booker T. Washington

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$24,178
Asking price
$295,000
Closing costs (~8% of asking)
-$23,600
Est. remaining loan balance
-$247,222
Cash to seller
$24,178

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Amwest Funding

Loan start date

January 2022

Original loan amount

$264,000

Est. remaining balance

$247,222

Interest rate

3.1%

Loan type

New Conventional, 30 year

Seller

Sandeep Singh Gulia

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 02/24/2025 at 5:10 AM

Listing updated: 01/28/2025 at 1:30 PM

Listed by: Hillary Dukes, Berkshire Hathaway HomeServices Georgia Properties Phone #: (404) 537-5200

MLS: FMLS #7493893

FMLS logo

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