$765,000
SOLD JUL 30, 2025

122 Toby Springs Ln McDonough, GA 30253

-- Bed
-- Bath
-- Sq Ft
0.57 Acres

Recently Sold

1% Below List Price

120 Days on Market

Highlights

  • 4 Fireplaces
  • Forced Air Heating and Cooling System
  • Ceiling Fan
  • No HOA

About This Home

As of July 2025

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 7.78%. Assuming a 6.3% interest rate and full occupancy, the property can generate a combined projected annual gross income of $71,736. With an estimated annual expense rate of 16% of gross income ($11,477.76), the property delivers a Net Operating Income (NOI) of $60,258.24. Projected growth and cap rate: leased on full occupancy rents at $1,850 you will have a cap rate of 9.63% and a positive annual cash flow of $31,418.61. 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.

Last Agent to Sell the Property

Janice Overbeck

Keller Williams Realty Atlanta North License #338011 Listed on: 02/05/2025

Keller Williams Realty Atlanta North

Co-Listed By

Julie Papevies

Keller Williams Realty Atlanta North License #388354

Last Buyer's Agent

Christopher Mallard

Neighborhood Assistance Corp. License #380924

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,007

Year Built

  • Built in 1986

Lot Details

  • 0.57 Acre Lot

Home Design

  • Quadruplex
  • Stone Frame

Interior Spaces

  • 2-Story Property
  • Ceiling Fan
  • 4 Fireplaces

Parking

  • 8 Parking Spaces
  • Off-Street Parking

Schools

  • Walnut Creek Elementary School
  • Mcdonough Middle School
  • Mcdonough High School

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • Toby Springs Subdivision

Building Details

  • Operating Expense $11,478
  • Gross Income $71,736

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,007

Year Built

Built in 1986

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Year Built: 1986
  • Co List Office: KWEC01
  • Financing Type: Conventional 95%
  • Levels: Two
  • Lot Size Acres: .57
  • Structure Type: Quadruplex
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Basement: None

Exterior Features

  • Construction Materials: Stone Frame
  • Property Condition: Resale

Garage/Parking

  • Parking Features: Off Street
  • ParkingTotal: 8

Utilities

  • Cooling: Ceiling Fan(s), Central Air
  • Heating: Forced Air, Natural Gas
  • Sewer: Public Sewer
  • Utilities: Other
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: None

Fee Information

  • Association Fee Includes: None

Schools

  • Elementary School: Walnut Creek
  • High School: McDonough
  • High School Bus: Yes
  • Middle School: McDonough Middle
  • Middle School Bus: Yes

Rental Info

  • Owner Pays: Other

Multi Family

  • Total Fireplaces: 4
  • GrossIncome: 71736
  • NumberOfUnitsTotal: 4
  • OperatingExpense: 11478

Tax Info

  • Year: 2024
  • Tax Annual Amount: 7007

MLS Schools

  • Elementary Bus Line: Yes

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/30/2025 07/30/25 Sold $765,000 0.0% --
06/05/2025 06/05/25 Pending -- -- --
04/11/2025 04/11/25 Price Changed $765,000 -1.3% --
03/27/2025 03/27/25 For Sale $775,000 0.0% --
02/28/2025 02/28/25 Pending -- -- --
02/05/2025 02/05/25 For Sale $775,000 -- --
Source: Georgia MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Janice Overbeck

    Seller's Agent in 2025

    Janice Overbeck

    Keller Williams Realty Atlanta North

    (404) 585-8881

    5 in this area

    677 Total Sales

    Janice Overbeck
    Section Image
  • Julie Papevies

    Seller Co-Listing Agent in 2025

    Julie Papevies

    Keller Williams Realty Atlanta North

    (770) 380-5924

    3 in this area

    128 Total Sales

    Julie Papevies
    Section Image
  • Christopher Mallard

    Buyer's Agent in 2025

    Christopher Mallard

    Neighborhood Assistance Corp.

    (404) 312-3066

    1 in this area

    73 Total Sales

    Christopher Mallard
    Section Image
See All Agents

Map

Source: Georgia MLS

MLS Number: 10453350

Georgia MLS
Georgia Henry County McDonough 30253

122 Toby Springs Ln, McDonough, GA

Sold

MultiFamily

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