Seller's Agent in 2024
Josh Stanton
Keller Williams Realty
(678) 929-5949
19 in this area
229 Total Sales
7445 Meadows Dr Riverdale, GA 30274
Estimated Value: $253,730
9
Beds
3
Baths
1,974
Sq Ft
$129/Sq Ft
Est. Value
Highlights
- Traditional Architecture
- Solid Surface Countertops
- Screened Porch
- Wood Flooring
- No HOA
- Four Sided Brick Exterior Elevation
About This Home
As of February 2024Eureka! You've found the ultimate cash-flowing rental. This expanded split-level PadSplit coliving home generates over $5,500 per month in gross rental income ($66,000+ per year). This investment offers a unique combination of cash flow and turnkey management. After expenses the CAP rate is over 16% and 34% cash-on-cash ROI. This fully occupied rental is conveniently located minutes from major employers, including Hartsfield-Jackson International Airport. Its proximity to I-75 / I-285 ensures superb connectivity for its occupants. The home is leased to one tenant, PadSplit, which hosts the property on their platform. PadSplit is a workforce housing solution that not only helps members save money and live closer to work but also provides an avenue for investors to achieve 3x+ cash flow of typical rental properties. All members are professionally screened by PadSplit, required to pass a criminal background check and undergo income verification. PadSplit handles inbound requests from members and enforces house rules. One rent payment is direct-deposited into the owner's bank account based on the home's previous month's performance. Sold with an optional top-rated Superhost who coordinates cleaning and repairs, this property is ideal for any investor, regardless of their capacity. In a time when cash flow is hard to find, this turnkey rental defies the odds. It doesn't just meet the '1% rule,' it blows it away. Contact us today for preferred lenders if you need financing. If PadSplit is new to you, please Google 'PadSplit' to learn more about this game-changing affordable housing solution before calling. Part of a portfolio, contact the listing agent if you are interested in purchasing multiple properties with a similar setup and ROI.
Last Agent to Sell the Property
Keller Williams Realty License #379772 Listed on: 01/10/2024
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $2,237
Year Built
- Built in 1974
Lot Details
- 14,810 Sq Ft Lot
- Level Lot
Home Design
- Traditional Architecture
- Composition Roof
- Wood Siding
- Four Sided Brick Exterior Elevation
Interior Spaces
- 1,974 Sq Ft Home
- Multi-Level Property
- Roommate Plan
- Screened Porch
Kitchen
- Microwave
- Solid Surface Countertops
Flooring
- Wood
- Laminate
- Tile
Bedrooms and Bathrooms
Laundry
- Dryer
- Washer
Basement
- Finished Basement Bathroom
- Laundry in Basement
Parking
- 2 Parking Spaces
- Off-Street Parking
Schools
- Church Street Elementary School
- Riverdale Middle School
- Riverdale High School
Utilities
- Central Heating and Cooling System
- Cable TV Available
Community Details
- No Home Owners Association
Listing and Financial Details
- Legal Lot and Block 34 / B
Matterport 3D Tour
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jan 10, 2024
Closed on
Feb 20, 2024
Sold by
Bought by
Seller's Agent
Josh Stanton
Keller Williams Realty
Buyer's Agent
Brandon Beamer
Keller Williams Realty
List Price
$244,000
Sold Price
$260,000
Premium/Discount to List
$16,000
6.56%
Views
68
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$6,270
Avg. Annual Appreciation
-1.05%
Original Mortgage
$208,000
Outstanding Balance
$203,975
Interest Rate
6.69%
Mortgage Type
New Conventional
Estimated Equity
$49,755
Purchase Details
Closed on
Apr 9, 2021
Sold by
Bought by
Purchase Details
Closed on
Nov 16, 2020
Sold by
Bought by
Purchase Details
Closed on
Nov 11, 2016
Sold by
Bought by
Purchase Details
Closed on
Sep 3, 2015
Sold by
Bought by
Purchase Details
Listed on
Mar 21, 2013
Closed on
May 14, 2013
Sold by
Bought by
Seller's Agent
Mike Prewitt
NOT A VALID MEMBER
Buyer's Agent
NON-MLS NMLS
Non FMLS Member
List Price
$35,500
Sold Price
$37,500
Premium/Discount to List
$2,000
5.63%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
15.70%
Purchase Details
Closed on
Dec 6, 2011
Sold by
Bought by
Purchase Details
Closed on
Feb 16, 1998
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$74,750
Interest Rate
6.99%
Mortgage Type
FHA
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $260,000 | -- | ||
| $175,000 | -- | ||
| $105,000 | -- | ||
| -- | -- | ||
| $75,000 | -- | ||
| -- | -- | ||
| $37,500 | -- | ||
| $60,150 | -- | ||
| $21,600 | -- | ||
| $75,500 | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $208,000 | ||
| Previous Owner | $74,750 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/23/2024 02/23/24 | Sold | $260,000 | +6.6% | $132 / Sq Ft | |
| 01/29/2024 01/29/24 | Pending | -- | -- | -- | |
| 01/10/2024 01/10/24 | For Sale | $244,000 | +550.7% | $124 / Sq Ft | |
| 05/14/2013 05/14/13 | Sold | $37,500 | +5.6% | $24 / Sq Ft | View Prior Sale |
| 04/14/2013 04/14/13 | Pending | -- | -- | -- | |
| 03/21/2013 03/21/13 | For Sale | $35,500 | -- | $23 / Sq Ft |
Source: Georgia MLS
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $4,422 | $6,400 | $6,400 | $109,061 |
| 2024 | $4,096 | $105,000 | $6,400 | $98,600 |
| 2023 | $2,237 | $95,616 | $6,400 | $89,216 |
| 2022 | $2,415 | $70,000 | $5,600 | $64,400 |
| 2021 | $675 | $42,000 | $5,560 | $36,440 |
| 2020 | $1,288 | $36,718 | $6,400 | $30,318 |
| 2019 | $1,279 | $35,937 | $5,600 | $30,337 |
| 2018 | $1,112 | $31,247 | $5,600 | $25,647 |
| 2017 | $527 | $29,127 | $5,600 | $23,527 |
| 2016 | $993 | $27,818 | $5,600 | $22,218 |
| 2015 | $912 | $0 | $0 | $0 |
| 2014 | $522 | $15,000 | $5,600 | $9,400 |
Source: Public Records
Agents Affiliated with this Home
-
Josh Stanton
-
Brandon Beamer
B
Buyer's Agent in 2024
Brandon Beamer
Keller Williams Realty
(404) 590-7137
5 in this area
52 Total Sales
-
M
Seller's Agent in 2013
Mike Prewitt
NOT A VALID MEMBER
-
N
Buyer's Agent in 2013
NON-MLS NMLS
Non FMLS Member
Map
Source: Georgia MLS
MLS Number: 10239863
APN: 13-0182C-00E-016
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of Georgia MLS. Real estate listings held by brokerage firms other than Redfin are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. Information deemed reliable but not guaranteed. Copyright 2026 Georgia MLS. All rights reserved.
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