masterkey logo
60 Matador Way #214
Newnan, GA

60 Matador Way #214

$374,000
5 bd • 3 ba • 2,787 sf

This analysis was generated by artificial intelligence 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 The unknown build year could hide potential age-related issues or outdated systems that may require costly upgrades.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

Price Prediction Challenge

Think you know what 60 Matador Way #214 will sell for? Put your market expertise to the test!

Be the first to predict

Your local insight could help set the benchmark for other buyers.

No predictions yet

Kick off the challenge by making your guess. You'll help other buyers get a feel for this property’s value—and you might just claim the top spot when it sells.

Unlock Premium Features

Supercharge Your Property Analysis

Get unlimited AI-powered insights and analysis to make confident decisions about any property you're interested in.

Best for serious buyers
  • Unlimited AI analysis
  • Unlimited AI chat
  • Advanced tools & insights
$24.92/mo
Billed yearlySave 17% ($60/year)
Cancel anytime • 30-day money-back guarantee

Risk Assessment

Risk Analysis

Key risks include the tornado susceptibility of Newnan, potentially leading to higher insurance costs and safety concerns. The rapid growth of Newnan poses risks of infrastructure strain, potential property tax increases, and changing community dynamics. Without flood plain information, there's a risk of unexpected flooding issues or insurance requirements. The unknown build year could hide potential major system replacements or upgrades needed in the near future. If part of an HOA, there are risks of unexpected fee increases or special assessments. The larger size of the home (2,787 sqft) could lead to higher-than-expected utility and maintenance costs. Lastly, Newnan's evolving job market and reliance on Atlanta for employment could impact long-term property values if economic conditions change.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$393,166

5.1% above list price

Median Price

$399,993

Based on 6 recent sales

Price per Sq.Ft

$153

Comparable Properties

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

Frequently Asked Questions

Property Discussion

Start the Conversation

Share your insights on this property—did you visit the open house? Know of any hidden pros or cons? Your street-level knowledge could be exactly what another buyer needs.

You
Potential Savings

$11,220

Analyze Any Property for Free

Get instant insights and potential savings on any Zillow® listing.

Free Analysis
AI-Powered Insights
Instant Results