House #40: WANNA BUY IT???

May 5, 2013 · 6 comments

We’ve been holding onto The Power House since November, trying to decide if we want to rent it or sell it. When we list it for rent, we get a tremendous amount of interest, but we keep deciding that we really don’t want to be landlords right now. So, it’s still vacant and we’ve finally decided we are going to try to sell it.

We haven’t gotten much interest from the big out-of-state investors, as they require all their houses to have garages, and this one doesn’t. So, it’s been a bit tougher to sell than our last few projects. So, if anyone reading this is interested, let me know!

Here are facts:

  • It’s listed at $79,900 and we’re looking for a cash offer
  • Here are some pictures
  • It’s in a quiet subdivision in Austell, GA (Cobb County)
  • It’s a small (just under 1000 sf) 3 bed/2 bath built in 1995
  • It’s move-in-ready and rent ready. We’ve painted, had the carpets cleaned, did HVAC and roof maintenance, replaced the water heater, replaced the main line (it had a leak), and put in a used fridge and electric stove (we ran a new circuit to convert from gas to electric, but I think the gas line is still there)
  • We originally had it listed for rent at $925 and got LOTS of interest and many applications. We couldn’t decide if we wanted to rent it or sell it, so we never vetted any of the applicants and ultimately stopped advertising it for rent. I think at $900-925, there would be no issue renting it quickly
  • The only adverse thing about this house (in my opinion) is that there is large power tower behind it. Didn’t seem to impact the rentability of it, but could impact the eventual sale
  • Should be pretty low-maintenance as a rental — it’s small, has a fenced yard, is in a nice community and backs up to the Silver Comet Trail, which is a very long (61+ miles) trail from Georgia to Alabama

If anyone wants more info, feel free to ask in this thread or shoot me an email…

Disclaimers: My wife and I own the property and we are licensed real estate agents in Georgia. Nothing written above is guaranteed, and I would hope you do your own due diligence. We are an equal housing seller… 🙂

6 responses to “House #40: WANNA BUY IT???”

  1. Chris Nze says:

    I am interested.
    Please forgive me if I missed it in the thread.
    What is the ARV?

  2. J Scott says:

    Hey Chris,

    I didn’t include the ARV because this wouldn’t make a good flip. I’m pretty sure you could get it under contract with a homeowner for $90K or so, but the appraisal would be the tricky part. It could appraise for $105K or it could appraise for $70K, all depending on what comps the appraiser chose…this one is really tricky that way, which is why I’m looking for a landlord buyer and not a rehabber or owner occupant.

  3. Prabir says:


    Love your blog! My wife and I own a rental property in Smyrna and may be interested. I wasn’t able to open the pictures link though. Can you e-mail me your contact info?



  4. J Scott says:

    Hey Prabir,

    My email is:

  5. john says:

    awesome blog thanks for sharing this

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