122 Toby Springs Lane

McDonough, GA 30253

$795,000
Price
10
Beds
8
Baths
4
1/2 Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.

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Description

This updated quadruplex is a rare gem, offering impressive returns and a prime location that sets it apart in the investment market. Appraised at $850,000 following a $120,000 rehab completed within the last 14 months, this 5,192 sqft property boasts a strong CAP rate of 7.88%. Assuming a 6.3% interest rate and full occupancy, the property can generate a combined projected annual gross income of $74,568. With estimated annual expenses of $11,930.88, the property delivers a Net Operating Income (NOI)...This updated quadruplex is a rare gem, offering impressive returns and a prime location that sets it apart in the investment market. Appraised at $850,000 following a $120,000 rehab completed within the last 14 months, this 5,192 sqft property boasts a strong CAP rate of 7.88%. Assuming a 6.3% interest rate and full occupancy, the property can generate a combined projected annual gross income of $74,568. With estimated annual expenses of $11,930.88, the property delivers a Net Operating Income (NOI) of $62,637.12. Projected growth and cap rate: leased on full occupancy rents at $1,850 you will have a cap rate of 9.38% and a positive annual cash flow of $15,876.48. The building features four well-designed units - two with 3 bedrooms and 2.5 baths, and two with 2 bedrooms and 2.5 baths. Each unit is thoughtfully appointed with modern kitchen appliances, spacious living rooms, and recently poured concrete private patios with a storage closet overlooking a large shared yard. The property also includes dedicated parking pads for added tenant convenience. Located less than a mile from downtown McDonough and 2.5 miles from I-75, this home is in a prime location. This quadruplex stands out as a prime investment opportunity, combining modern updates, tenant-paid utilities, and a strategic location to deliver consistent income and strong financial growth - an ideal choice for expanding your portfolio. No showings until due diligence period. All units are occupied. Please do not disturb tenants. Seller is willing to buy down rate with an acceptable offer.
  1. Listed by Janice Overbeck • Keller Williams Realty Atl North
  2. Listed by Julie Papevies • Keller Williams Realty Atl North

Property Details for 122 Toby Springs Lane

Subdivision Complex
Toby Springs
Num Of Parking Spaces
8
Parking Features
Driveway, Level Driveway
Property Attached
No
Waterfront Features
None
Furnished
Unfurnished
LISTING UPDATED: 12/21/2024 08:00 AM

Property Details for 122 Toby Springs Lane

StatusActive
MLS #7499249
Days on Market1
Taxes$7,007 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Quadruplex
Year Built1986
Lot Size0.57 AC / 24,829 SF
CountyHenry County

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Building Information for 122 Toby Springs Lane

Stories2Residences4Year Built1986Building Size-Lot Size0.57 AC / 24,829 SF

Property Information for 122 Toby Springs Lane

Summary
Location and General Information
  • Community Features: None
  • Directions: From I-75 S, take exit 221 and turn left on Fayetteville Rd/Jonesboro Rd. Then take the second exit at the traffic circle to a right on Geranium Dr. Turn right on Toby Springs Connector and right on Toby Springs Ln. The property will be on the right.
  • Lake Name: None
  • View: Other
  • Coordinates: -84.153585, 33.447008
Taxes and HOA Information
  • Parcel Number: M0909026000
  • Tax Year: 2024
  • Association: No
  • Block: -
  • Tax Legal Description: Deed Book & Page 18742-49
School Information
  • School Bus Route Elem: Yes
  • School Bus Route High: Yes
  • School Bus Route Middle: Yes
  • Elementary School: Walnut Creek
  • High School: McDonough
  • Middle School: McDonough
Parking
  • Open Parking: Yes
Interior and Exterior Features
Interior Features
  • Cooling: Ceiling Fan(s), Central Air
  • Heating: Forced Air, Natural Gas
  • Flooring: Luxury Vinyl
  • Levels/Stories: Two
  • Window Features: None
  • Bathrooms Total Interger: 0
Exterior Features
  • Accessibility Features: None
  • Construction Materials: Frame
  • Fencing: None
  • Roof Type: Composition
  • Security Features: None
  • Pool Private: No
Property
Utilities
  • Sewer: Public Sewer
  • Utilities: Electricity Available,Water Available,Other
  • Water Source: Public
Property and Assessments
  • Home Warranty: No
  • Plat Book: -
  • Plat Page: -
  • Property Condition: Resale
Green Features
  • Green Energy Efficient: None
  • Green Energy Generation: None
Lot Information
  • Section/GMD: -
  • Land lot: -
  • Lot Features: Level
  • Acreage Source: Public Records
  • Lot Size Dimensions: 148x91x87x166x177
Multi Family
Multi-Family Information
  • Unit Count: 4
  • NUM OF UNITS: 4
Income & Expenses Information
  • Gross Annual Income: $74,568.00
  • N.O.I. $: $62,637.00
  • Annual Expenses: $11,930.00
Unit 1
  • Unit Deposit Amount: $.00
  • Unit Electric Included: No
  • Unit Features: Central Air, Dishwasher, Microwave, Patio, Range/Oven, Refrigerator, Smoke Alarm, Walk-In Closet, Wash/Dry Connect
  • Unit Garbage Included: No
  • Unit Gas Included: No
  • Unit Half Baths: 1
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: No
  • Unit Rent Amount: $1,570.00
  • Unit Full Baths: 2
  • Unit Bedrooms: 2
Unit 2
  • Unit Deposit Amount: $1,364.00
  • Unit Electric Included: No
  • Unit Features: Central Air, Dishwasher, Microwave, Patio, Range/Oven, Refrigerator, Smoke Alarm, Walk-In Closet, Wash/Dry Connect
  • Unit Garbage Included: No
  • Unit Gas Included: No
  • Unit Half Baths: 1
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: No
  • Unit Rent Amount: $1,364.00
  • Unit Full Baths: 2
  • Unit Bedrooms: 2
Unit 3
  • Unit Deposit Amount: $1,364.00
  • Unit Electric Included: No
  • Unit Features: Central Air, Dishwasher, Microwave, Patio, Range/Oven, Refrigerator, Smoke Alarm, Walk-In Closet, Wash/Dry Connect
  • Unit Garbage Included: No
  • Unit Gas Included: No
  • Unit Half Baths: 1
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: No
  • Unit Rent Amount: $1,364.00
  • Unit Full Baths: 2
  • Unit Bedrooms: 3
Unit 4
  • Unit Deposit Amount: $.00
  • Unit Electric Included: No
  • Unit Features: Central Air, Dishwasher, Microwave, Patio, Range/Oven, Refrigerator, Smoke Alarm, Walk-In Closet, Wash/Dry Connect
  • Unit Garbage Included: No
  • Unit Gas Included: No
  • Unit Half Baths: 1
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: No
  • Unit Rent Amount: $1,680.00
  • Unit Full Baths: 2
  • Unit Bedrooms: 3
Rental
Rent Information
  • Occupant Types: Tenant

Schools near 122 Toby Springs Lane

This home is within Henry County School District.
Rating
School
Type
Grades
Distance
Walnut Creek Elementary School
Public - PK to 5
Henry County Middle School
Public - 6 to 8
McDonough High School
Public - 9 to 12
EXCEL Academy
Public - 6 to 12
Rating
School
Distance
Walnut Creek Elementary School
PublicPK to 5

Henry County Middle School
Public6 to 8

McDonough High School
Public9 to 12

EXCEL Academy
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 122 Toby Springs Lane, McDonough, GA 30253

122 Toby Springs Lane is a multi-family home for sale in McDonough, GA 30253. This property was listed for sale on December 20, 2024 by Keller Williams Realty Atl North, it's currently listed at $795,000. This listing's school district is Henry County School District. Nearby schools include Walnut Creek Elementary School, Henry County Middle School and McDonough High School. 122 Toby Springs Lane is a 10-bed, 10-bath, multi-family home built in 1986.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty Atl North, Janice Overbeck; Keller Williams Realty Atl North, Julie Papevies

Based on information from one of the following Multiple Listing Services:FMLS,FMLS_CS,GAMLS,Middle GA MLS,Columbus Board of REALTORS, Northeast Georgia Board of REALTORS.Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by FMLS,FMLS_CS,GAMLS, Middle GA MLS,Columbus Board of REALTORS, Northeast Georgia Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.