$23,000
●
Land -
Off Market
5502 Checkered Spot Drive #LOT82
Gainesville, GA 30506
Studio
0 Bath
$26,331
RealtyHop Estimate
10.17%
Since Jan 1, 2022
National-US
Primary Model
About This Property
Terrific builder opportunity. Declarant rights can be transferred
in the event that both lots are purchased together (Lots 82 & 91
are still available.) Minimum 1,600 Square Foot homes on lots
ranging from 0.59 acres to 2.6 acres. Minimum setbacks are as
follows: 30' FYSB, 10' SYSB, 20' RYSB. Tremendous opportunity to
build on value priced lots in established subdivision with a great
resale track record. Located in a beautifully established
subdivision with over 90 homes ranging from the low $200s to mid
$300s in pricing. Creekside at Monarch Ridge is located on Elrod
Road which provides a short 5 minute drive to Kroger shopping
center, restaurants and services. Quick access to downtown
Gainesville or Dawsonville Highway corridor via Sardis Road.
Unit Size
-
Days on Market
-
Land Size
0.66 acres
Price per sqft
-
Property Type
Land
Property Taxes
$19
HOA Dues
-
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: 3 years ago (GAMLS #8931655)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 17, 2021 | Sold | ||
| Sold | |||
| Feb 20, 2021 | Listed by Norton Commercial Acreage Grp | $23,900 | |
| Listed by Norton Commercial Acreage Grp | |||
| Aug 22, 2020 | No longer available | - | |
| No longer available | |||
| Aug 22, 2018 | Listed by Norton Commercial Acreage Grp | $23,500 | |
| Listed by Norton Commercial Acreage Grp | |||
| | |||
|
Terrific builder opportunity. Declarant rights can be transferred in the event that all 8 lots are purchased together. Minimum 1,600 Square Foot homes on lots ranging from 0.59 acres to 2.6 acres. Minimum setbacks are as follows: 30' FYSB, 10' SYSB, 20' RYSB. Tremendous opportunity to build on value priced lots in established subdivision with a great resale track record. Located in a beautifully established subdivision with over 90 homes ranging from the low $200s to mid $300s in pricing. Creekside at Monarch Ridge is located on Elrod Road which provides a short 5 minute drive to Kroger shopping center, restaurants and services. Quick access to downtown Gainesville or Dawsonville Highway corridor via Sardis Road.
| |||
| Oct 2, 2017 | Sold | ||
| Sold | |||
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Property Highlights
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About Hall
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
Listed by: Zachary Tibbs, Norton Commercial Acreage Grp
Last Updated: 3 years ago
Data Source: GAMLS, MLS# 8931655
Last Updated: 3 years ago
Data Source: GAMLS, MLS# 8931655
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.
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.
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