Multifamily

350 Herndon Lane

Canton, GA 30114

Location

350 Herndon Lane, Canton GA 30114

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List Price$1,439,000
12 Units$119,917 per unit
Published yieldsYields UnpublishedRent coverage 8% — yields unpublished
Value-add: water recoveryListing evidence · class C
Rents1 / 12 units
Who paysWater owner · Elec tenant · 11 units unknown
Occupancy91.6% present · hist 100%
FinancialsMLS GI/NOI empty · Tax $9,747 (2024)

Not enough FMLS financials to publish cap, cash-on-cash, or DSCR in the hero. Use the calculator as a modeled scenario and request the rent roll / T-12.

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Data last updated: October 5, 2026 at 4:01 PM EST
ACTIVE
FMLS #7717819
Listing Provided By JLA Real Estate Services · 678-686-3589
Description

Property Description

350 Herndon Lane located in the fast growing City of Canton, Cherokee County, Georgia. Situated just south of the Canton Historic District and in close proximity to I-575. The property features two-standalone buildings with six units per building. Unit mix per building is three, 1 bed / 1 bath units on the lower level and three, 2 bed / 2.5 bath units on the upper level. Units are master metered for water, separately for electric. Value add opportunity to increase the reimbursement for water or install usage devices, or separately meter the units. Historical occupancy has been 100% with present occupancy is 91.6%. One unit recently vacated due to job relocation. This asset is located within the prime Canton Market, which has experienced substantial growth over the past decade. Average Household income reported over $102,000 within a three-mile radius. Strong rental market with roughly 52% of households being leased and projected to grow over the next 5 years. Please inquire with listing agent for financials and additional information. Interior inspections allowed ONLY during due diligence period. Don’t hesitate to connect with any questions or need further details.
Listing facts

From this record

  • Incomplete — 1 of 12 unit rents
  • Remarks occupancy 91.6%
  • Mix from remarks: 6× 1bd/1ba + 6× 2bd/2.5ba

12 doors on the listing. Generic market notes are below the fold.

Unit Mix & Available Rent Roll

Breakdown based on data provided in the FMLS listing· HUD Small Area FMR (ZIP 30114, FY2027)shown for comparison

UnitBedsBathsMonthly RentHUD SAFMRElecGasWaterGarbMaint
Unit 1remarks mix11—$1,670—————
Unit 2remarks mix11—$1,670—————
Unit 3remarks mix11—$1,670—————
Unit 4remarks mix11—$1,670—————
Unit 5remarks mix11—$1,670—————
Unit 6remarks mix11—$1,670—————
Unit 722.5$1,440$1,820+$380NNYYY
Unit 8remarks mix22.5—$1,820—————
Unit 9remarks mix22.5—$1,820—————
Unit 10remarks mix22.5—$1,820—————
Unit 11remarks mix22.5—$1,820—————
Unit 12remarks mix22.5—$1,820—————
Total1 of 12 units with rent$1,440Y = owner-paid · — = unknown

Full detailed rent roll, tenant leases, and actual income/expense data not included in listing.

* Rent roll information is taken from the available FMLS listing data. Many multifamily listings do not include complete or verified tenant financials. Always verify actual rents, leases, and operating expenses during due diligence. HUD Small Area Fair Market Rents (ZIP-level payment standards) are published by the U.S. Department of Housing and Urban Development and are shown for comparison only.

Scenario

Investment Calculator

Scenario only. 1 of 12 rents in FMLS — GPI blank. Do not treat the results as in-place. Override any value.

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Repairs, pest, landscaping, cleaning, admin. Water and trash are separate lines. Electric/gas off when tenant-paid.

Conventional = fully amortizing. Commercial = shorter call + balloon. Seller finance = below-market note. Cash = no loan.

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Scenario only. Yields unpublished — thin roll. Results are not in-place.

Coverage rules
  • GPI pre-fills only from MLS GI, a building-total UnitTypes row, or a rent roll covering ≥ 80% of doors.
  • A single sample rent is not averaged across the building.
  • Vacancy floor is max(5%, 100 − present occupancy in remarks).
  • Mgmt 8% at 8+ units, else 10%. Insurance $800/door. R&M $800/door.
  • Utility allowances turn on only when the who-pays grid or remarks say owner-paid.
  • SAFMR push is mix-weighted and hidden when the sample is extrapolated from thin coverage.
  • Commercial = 30% / 7% / 25-yr amort. Conventional = 25% / 7% / 30-yr. Cash = 100% equity, no debt service. CoC = NOI ÷ price.
Value-add: owner water / RUBS

Jeff’s Investment Take

Market data · October 2026

Working thesis

FMLS coverage is too thin to publish cap / CoC / DSCR. Named lever is owner-paid / master-metered water (RUBS or submeters).

  • Incomplete — 1 of 12 unit rents
  • Remarks occupancy 91.6%
  • Mix from remarks: 6× 1bd/1ba + 6× 2bd/2.5ba
Directional local contextCherokee County

Thin sample for this geography. Treat medians as orientation only — verify with current rent roll and comps.

Med. close $/door$156,8752 closed · 12 mo
Med. asking rent$1,550
Months of supply12.0Active ÷ (12-mo closed ÷ 12)
County sold gross5.3%Rent ÷ close · T12 sold tape
County asking gross11.7%Rent ÷ list · live asks
County sold NOI cap4.3%Calculator stack on closes

Modeled from available FMLS data, unit mix, and operating assumptions, with directional local / North Georgia context. DSCR and cash-on-cash use commercial terms (30% down / 7% / 25-yr amort) for 5+ units. Always verify with current rent roll and expenses.

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Disclaimer

Important Investment Information

Median estimated cap, cash-on-cash, and DSCR require MLS gross income or NOI, a dated broker package, a listing building total, or a unit rent roll covering at least 80% of doors. Thin records stay Incomplete — those yields are not printed in the hero or on cards. The calculator is a labeled scenario, not in-place income.

When a line is missing we use disclosed defaults only inside the calculator: vacancy floor of max(5%, 100 − present occupancy in remarks); management 8% of EGI at 8+ units otherwise 10%; insurance $800 per door; R&M $800 per door. Utility allowances turn on only if the who-pays grid or remarks say owner-paid (water $900–1,800 per door until a T-12). A single who-pays row does not set the building. We do not use an all-in “other” of $1,100 per door, and we do not average one sample rent across the building.

Rent coverage 8% — yields unpublished

Any estimated or modeled figures represent the independent analysis of Jeff Crowe / Century 21 The Avenues and are not supplied by FMLS or the listing broker.

This website and its content are for informational and educational purposes only. Nothing on this site constitutes financial, investment, tax, or real estate advice. All information is deemed reliable but not guaranteed. You should always conduct your own thorough due diligence, verify all data independently, review the physical condition of the property, and consult with your own qualified attorney, accountant, and investment advisor before making any purchase decision.