Rex, GA Rental Property Investment

Listing Description

Listing: Awning - Redfin - Zillow

Welcome to your dream home in Creekwood Estates, Rex GA! This beautiful ranch-style house is the perfect opportunity for rental investors looking for a turn-key property that is ready to generate income. With 3 spacious bedrooms, 2 bathrooms, an attached 2 car garage, and 1,335 sq. ft. of living space, this renovated home offers everything your tenants could want and more. The property boasts new flooring, stainless steel appliances, new lighting, a new HVAC, and a spacious primary suite with a garden tub, dual vanities, and a walk-in shower. The backyard offers plenty of space for entertaining family and friends, and the quiet cul-de-sac location makes this a peaceful retreat from the hustle and bustle of everyday life. With easy access to major interstates, recreation, and schools, this home is a renter's dream. Don't wait, make an offer today and start earning passive income with this amazing property!

Investment Financials

How much does the home cost?

$264,900

How much will it earn in rent?

$1,850 per month

How much will it cost to renovate?

Based on the information provided, the only renovation cost estimated by Andreis Bergeron from Awning is for painting the exterior of the home, which is $2670. It is important to note that this may not be a comprehensive estimate, and there could be other renovation costs associated with the property that have not been mentioned.

How much cash can you take home in the first year?

Based on the provided information, the estimated monthly cash flow for this property is -$83, which means that the owner is expected to have a net loss of $83 per month, or $996 per year, in the first year of owning the property. Therefore, the owner cannot take home any cash in the first year, but they would need to cover the negative cash flow out of pocket. While the owner may not be able to take home any cash in the first year, they are building equity and may potentially receive a return on their investment in the future. It's important to consider the overall financial benefits of owning a property, rather than focusing solely on short-term cash flow.

What is the cap rate for this property?

The estimated cap rate for this property is 5.0%.

All of the cap rates and returns for this property are estimates and are not intended as a guarantee of income or returns. Every investment has risks. It's important to discuss any investment, returns, regulations, laws and projections with a financial advisor, attorney or another fiduciary.

Why People Rent In Rex, Georgia

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‍Where is Rex, Georgia?

Rex is a small city located in Clayton County, Georgia, United States. It is about 15 miles south of Atlanta and has a population of approximately 14,000 people.

What companies are the major employers in and around Rex, Georgia?

• Delta Air Lines: Delta Air Lines is a major airline headquartered in Atlanta, Georgia, which is located approximately 13 miles northwest of Rex. With a workforce of over 80,000 employees, Delta Air Lines is one of the largest employers in the region.
• Hartsfield-Jackson Atlanta International Airport: As the busiest airport in the world, Hartsfield-Jackson Atlanta International Airport is a significant employer in the Atlanta metropolitan area. Located approximately 10 miles north of Rex, the airport provides employment opportunities for thousands of people in the region.
• Walmart: Walmart is a multinational retail corporation that operates a number of stores in and around Rex, including a Walmart Supercenter located in neighboring Stockbridge. With over 2.3 million employees worldwide, Walmart is one of the largest employers in the world.
• Clayton County Public Schools: The Clayton County Public School System is a large school district located approximately 5 miles southeast of Rex in Jonesboro, Georgia. With over 9,000 employees, the school district provides education to more than 50,000 students in the region.
• Piedmont Henry Hospital: Piedmont Henry Hospital is a healthcare facility located approximately 7 miles southeast of Rex in Stockbridge, Georgia. The hospital employs over 1,200 people and provides a range of medical services to the local community.
• Southern Regional Medical Center: Southern Regional Medical Center is another healthcare facility located in neighboring Riverdale, Georgia, approximately 9 miles south of Rex. With over 1,100 employees, the hospital provides medical care to patients in the region.

What are the demographics of Rex, Georgia?

Rex, Georgia is an unincorporated community located in Clayton County, Georgia, and has a total population of 17,522 residents with a median age of 35.4 years according to Point2Homes. Of this population, 49.02% are males and 50.98% are females. The majority of the population, approximately 89.35%, are US-born citizens while non-US-born citizens account for 7.63% and non-citizens make up 3.02% of the population. Further information on the demographics of Rex can be found on NeighborhoodScout, which offers a comprehensive report on every neighborhood in the US, including Rex, with 600+ data elements and predictive analytics.

What is the Niche neighborhood grade and school grade in Rex, Georgia?

There are two different topics related to Rex, Georgia: neighborhood grade and school grade.

Niche provides a neighborhood grade for Rex, Georgia, based on its overall livability, crime rate, quality of local schools, and other factors. According to NeighborhoodScout, Rex, Georgia has an overall livability score of 59, which is considered average. This score is based on factors such as crime rate, cost of living, and amenities. However, Niche does not provide a specific school grade for Rex, Georgia.

On the other hand, GreatSchools lists the best schools in Rex, Georgia, including elementary, middle, and high schools, both private and public. C. Rex Mill Middle School, which is a public school located in Rex, Georgia, has a rating of 4 out of 10 on GreatSchools. It has 1,132 students in grades 6-8 with a student-teacher ratio of 17 to 1. According to state test scores, 25% of students are at least proficient in math and 30% in reading.

What is the property tax rate in Rex, Georgia?

The property tax rate in Rex, Georgia, is not explicitly stated. However, the process of establishing the property tax burden for owners is explained on Direct Tax Loan's website, which states that market values are set and then the county public entities establish tax levies separately. The property tax burden for all owners is then established by summing up the tax levies, which are based on the budgeted costs and the needed tax rates to cover those costs.

According to SmartAsset, the average effective property tax rate in Georgia is 0.81%. This is lower than the national average, and the median real estate tax payment in Georgia is $2,027 per year, which is approximately $800 less than the national average.

In addition, Dwellics provides information on the average property taxes paid in Rex, Georgia, which was 1.0% as of last year. The sales tax rate in Rex, Georgia, is 8.0%.

How many rental listings and vacancies are in Rex, Georgia?

There are 52 rental listings in Rex, Georgia listed on Zillow's website. In addition, Zumper provides apartments for rent in the area. 

Rentals.com notes that Rex includes four K-12 schools - three public and one private - in the Clayton County school district. There are also six preschools in the area.

What's the average rent in Rex, Georgia?

The average rent in Rex, Georgia varies depending on the specific neighborhood and type of rental. RentCafe provides detailed statistics and rent trends for Rex and its neighborhoods, and notes that as of their most recent data, the average rent in Rex is $1,314. Zumper reports that the average rent for a 1-bedroom apartment in Rex, GA is currently $1,024. Rentals.com notes that the average price for rental homes in Rex, GA is $1,934, but the price can vary based on location and amenities.

From Listing to Rental

1. Place an offer on this property: If you want help finding the best representation, simply submit your information by pressing "I'm Interested in this Property"
2. Close on the property: Closing on this property should be simple. An agent will help you review the contract and confirm that everything in the inspection report makes this a good deal.
3. Hire a property manager to manage your property: If you choose to use Property Management we can help you select the best service and get you a deal on management in the area.