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Monroe 31029
251 Preakness Way
$837,500
● House - Off Market

251 Preakness Way

Forsyth, GA 31029
bedrooms
4 Beds
bathrooms
3 Baths
square feet
3,958 Ft²
$4,209
Est. Monthly
$50
HOA / Fees
2.79%
Cap Rate

About This Property

Exquisite Craftsman with full daylight unfinished basement in North Monroe County's Riata Community. Enter from the covered front porch into the foyer flanked by a separate dining room. Vaulted family room with fireplace opens to fabulous kitchen. Kitchen features include table island, solid surface counter tops, and upgraded stainless steel appliance package. Unbelievable primary suite with custom tile shower, soaking tub, and his & hers walk in closets. Main floor guest suite makes this such a desirable floor plan. Upstairs offer two additional bedrooms and a bonus room with many possibilities. Buyer still able to make some selections! Builder includes 2 year social membership to River Forest Country Club, includes all amenities except golf.
Unit Size
3,958 Ft²
Days on Market
250 days
Land Size
1.55 acres
Price per sqft
$214
Property Type
House
Property Taxes
-
HOA Dues
$50
Year Built
-

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 2 years ago (GAMLS #10413977)

Price History

Date / Event Date Event Price
Jul 23, 2025 Sold
Premium
Sold
Jun 26, 2025 In contract -
In contract
Jun 11, 2025 Price Decreased $846,900
↓ $2K (0.3%)
Price Decreased
Jun 3, 2024 Listed $849,000
Listed
Apr 25, 2019 Sold
Premium
Sold

Property Highlights

Air Conditioning
Fireplace
Garage

Building Info

Overview

    General

  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 67,518
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 4
  • Water Service: 5

Building

  • Building Type: 0
  • Property Class: V
  • Subdivision: RIATA
  • Land Acres: 0000001550
  • Standard Land Use Code: 8001
  • County Land Use Code: R3
  • Legal Description 1: LL 3 LD 6 LOT 47 RIATA

Neighborhood

  • School District Name: Monroe County School District
  • School Tax School District: COUNTY
  • Census Tract: 050200

Geography

  • Assessors Map Reference: 27 264
  • Account Number: 14797
  • District: 6
  • Parcel: 015A-047
  • Lot: 3
  • Municipality: UNINCORPORATED
  • Latitude: 33.0997
  • Longitude: -84.0322

    Address

  • Full Address: 251 Preakness Way
  • Address - House Number: 251
  • Address - Street Name: Preakness
  • Address - Suffix Type: Way
  • State: GA
  • City Name: Forsyth
  • Carrier Code: R006
  • 4-Digit Zip Code: 5367
  • Zip Code: 31029

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $32,054
  • Tax Rate Code Area: 01

    Market Valuation

  • Market Total Value: $28,400
  • Market Land Value: $28,400

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $11,360
  • Assessed Land Value: $11,360

    Sales

  • Current Sale Contract Date: Nov 30, 2022
  • Current Sale Recording Date: Dec 01, 2022
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2022-002045
  • Previous Sale Recording Date: Apr 25, 2019
  • Previous Sale Contract Date: Apr 25, 2019
  • Previous Sale Amount: $433,780
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Monroe

Stats & Trends

Median Asking:

$399,900

Sale Price/ft²

$174

Below Asking

0.02%

Average Days on Market

88

Average Home Size

2780 ft²

Average Home Age

23 years

Currently For Sale

125 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

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GAMLS

Listed by: Kerri Swearingen,
Last Updated: 2 years ago
Data Source: GAMLS, MLS# 10413977
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of GAMLS. All real estate listings are marked with the GAMLS Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Copyright 2026 GAMLS. All rights reserved.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 251 Preakness Way built and last sold?
The property at 251 Preakness Way was built in and last sold on Nov 30, 2022 for $0.
How much is this home worth?
The estimated value of the home located at 251 Preakness Way is $0.
What are some comparable homes to 251 Preakness Way?
There are currently no comparable homes to 251 Preakness Way.
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