Score
0Newnan, GA
60 Matador Way #214
374K
5 beds
3 baths
2,787 sqft
5 bd • 3 ba • 2,787 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$374,000
Price/Sq.Ft
$134
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This 5-bedroom, 3-bathroom property at 60 Matador Way #214, Newnan, GA offers exceptional value at $134.19/sqft, which is approximately 30% below the average price per square foot for similar homes in Newnan. With 2,787 sqft, it's significantly larger than the typical home in the area, providing ample space for large families or those needing extra rooms for offices or guests. The brick exterior suggests durability and low maintenance costs. Its location in a planned community likely offers amenities and a sense of neighborhood cohesion. The property's price point of $374,000 is well-positioned for the local market, considering the median income of $68,446 in Newnan. For investors, the potential rental income for a 4+ bedroom home in Newnan (estimated at $2,308/month) could yield a gross rental yield of about 7.4% annually, which is attractive for long-term investment.
The Bad
While the property offers good value, the lack of detailed information about its features, utilities, and systems is concerning. The unknown build year could hide potential age-related issues or outdated systems that may require costly upgrades. The property's location in a newer, possibly rapidly developing area of Newnan may lead to ongoing construction noise and disruption. Additionally, with Newnan experiencing significant growth, there's a risk of strained local infrastructure, potentially leading to increased traffic congestion, especially if the property is near I-85. The absence of mentioned energy-efficient features or recent upgrades could result in higher utility costs compared to newer or recently renovated properties in the area.
The Ugly
Newnan's susceptibility to tornadoes poses a significant risk, potentially leading to higher insurance premiums and the need for additional safety measures. The rapid growth of Newnan is changing the town's character, which could affect long-term property values and community feel. If the property is part of an HOA (common in newer Newnan subdivisions), there could be substantial fees and restrictions not disclosed in the provided information. The potential for flooding in certain areas of Newnan is a serious concern; without specific flood plain information for this property, buyers could face unexpected insurance requirements or flood risks. Lastly, if many residents in this neighborhood commute to Atlanta, the stress of long commutes and associated costs could lead to higher turnover in the community, potentially impacting property values and neighborhood stability.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for large families or multi-generational households who need the space offered by 5 bedrooms and 3 bathrooms. With a price point of $374,000, it's ideal for buyers with household incomes around $100,000-$120,000, assuming a standard mortgage and debt-to-income ratios. The property could also appeal to investors looking for rental properties, given the potential for a 7.4% gross rental yield. Young professionals or families moving to Newnan for job opportunities in the growing local economy or those commuting to Atlanta who prioritize space over proximity to the city center would find this property attractive. Additionally, it may suit buyers who appreciate newer construction and planned community living, possibly with amenities that come with such neighborhoods.
Not For
This property is not suitable for buyers seeking a historic or character-filled home, given its likely newer construction in a planned development. It's not ideal for singles or couples without children who might find the space excessive and potentially costly to maintain. Buyers on a tight budget or with incomes below $80,000 might struggle with the mortgage payments and potential HOA fees. Those prioritizing a short commute to Atlanta or seeking a walkable, urban lifestyle would likely find the location less than ideal. Additionally, it's not suitable for buyers who are risk-averse to potential natural disasters, given Newnan's tornado risk, or those who are sensitive to the potential issues that come with rapid community growth and development.
Demographics
Area Median Income
$68,446
Property History
Price History
Ownership Timeline
$265,000Cash Purchase
Dec 31, 2020Horatio D HenryAustin Kearney
Warranty Deed
Standard Sale (Purchase/Resales)
$169,680Cash Purchase
Apr 24, 2014Peachtree Communities At BKia S Henry, Horatio D Henry
Warranty Deed
Standard Sale (Purchase/Resales)
$75,000Cash Purchase
Oct 15, 2013Bullsboro LlcPeachtree Communities At Bulls
Warranty Deed
Non-Residential Arm's Length Transactions
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
5.0/10
AverageMiddle
7.0/10
GoodHigh
6.0/10
GoodFinancials
Monthly Costs
Market Rent (5 bed)
Get a detailed estimate on Zillow$1,345
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$374,000
Price/sqft
$134
Layout
5 bd•3 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$393,166
4.9%
Your price is 4.9% below average
Median Price
$399,993
6.5%
Based on 6 recent sales
Price per Sq.Ft
$153
12.3%
Your price is 12.3% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 90 Torero Trail, Newnan, GA 30263 | $375,000 | 2,554 | 4 | 3 | $1479.4% | 10/4/2024 |
| 66 Torero Trail, Newnan, GA 30263 | $395,000 | 2,257 | 4 | 3 | $17530.4% | 11/1/2024 |
| 175 Covington Terrace, Newnan, GA 30263 | $340,000 | 2,609 | 4 | 3 | $1302.9% | 9/16/2024 |
| 97 Torero Trail, Newnan, GA 30263 | $429,000 | 2,673 | 4 | 3 | $16019.6% | 9/6/2024 |
| 41 Scout Way, Newnan, GA 30263 | $399,993 | 2,662 | 4 | 3 | $15012.0% | 8/27/2024 |
| 2 Chickapee Court, Newnan, GA 30263 | $420,000 | 2,698 | 4 | 3 | $15616.0% | 8/15/2024 |
90 Torero Trail, Newnan, GA 30263
Price: $375,000
Sq.Ft: 2,554
Beds/Baths: 4/3
$/Sq.Ft:
$1479.4%
Sale Date: 10/4/2024
66 Torero Trail, Newnan, GA 30263
Price: $395,000
Sq.Ft: 2,257
Beds/Baths: 4/3
$/Sq.Ft:
$17530.4%
Sale Date: 11/1/2024
175 Covington Terrace, Newnan, GA 30263
Price: $340,000
Sq.Ft: 2,609
Beds/Baths: 4/3
$/Sq.Ft:
$1302.9%
Sale Date: 9/16/2024
97 Torero Trail, Newnan, GA 30263
Price: $429,000
Sq.Ft: 2,673
Beds/Baths: 4/3
$/Sq.Ft:
$16019.6%
Sale Date: 9/6/2024
41 Scout Way, Newnan, GA 30263
Price: $399,993
Sq.Ft: 2,662
Beds/Baths: 4/3
$/Sq.Ft:
$15012.0%
Sale Date: 8/27/2024
2 Chickapee Court, Newnan, GA 30263
Price: $420,000
Sq.Ft: 2,698
Beds/Baths: 4/3
$/Sq.Ft:
$15616.0%
Sale Date: 8/15/2024
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