Multifamily

1104 Penrose Drive

Dalton, GA 30720

Location

1104 Penrose Drive, Dalton GA 30720

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List Price$560,000
4 Units$140,000 per unit
Published yieldsYields UnpublishedRent coverage 25% — yields unpublished
IncompleteListing evidence · class C
Rents1 / 4 units
Who paysWater unknown · 3 units unknown
Occupancy100% present
FinancialsMLS GI/NOI empty · Tax $3,560 (2025)

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 #7802851
Listing Provided By Chapman Hall Realtors · 404-252-9500
Description

Property Description

Beautiful multifamily building, fully occupied all tenants pay $1150 per month. Management company available to continue. This offering presents a 3,072-square-foot, four-unit multifamily property located at 1104 Penrose Drive in Dalton, Georgia, situated on a 20,152-square-foot site zoned C-1. The asset’s primary value driver is its small-format apartment configuration within a single-building layout, which may appeal to investors seeking operational simplicity and exposure to workforce-oriented multifamily demand. Built in 2000, the property contains four residential units in one building on approximately 0.27 acres. Public record activity indicates the asset traded for $405,000 in June 2024, equating to roughly $131.84 per square foot, reflecting recent market validation of the property’s pricing benchmark and providing a current basis for underwriting. The investment thesis is centered on the acquisition of a recently transacted, efficiently scaled multifamily asset in Dalton with straightforward physical characteristics, modest lot coverage, and commercial zoning that may support long-term flexibility. For buyers targeting smaller multifamily investments, the property offers a manageable unit count, a clearly defined parcel, and a recent sales comp reference that can support near-term valuation analysis and future repositioning decisions. Investment highlights Modern vintage relative to many small multifamily assets. Built in 2000, the property is newer than much of the legacy small-balance apartment stock often found in secondary markets. A more recent construction date may translate into lower near-term replacement risk for major building systems compared with older inventory. Defined site size offers usable land area without excess overhead. The parcel totals 20,152 square feet, or about 0.27 acres, creating a compact site that remains large enough to support the existing improvements. This balance may help contain grounds-related operating demands while preserving site functionality. Dalton location offers exposure to a proven North Georgia rental market. The property is located in Dalton, the economic center of Whitfield County and a regional employment hub in Northwest Georgia. For small multifamily investors, that setting may support recurring renter demand tied to local employment and neighborhood-serving housing needs.
Listing facts

From this record

  • Incomplete — 1 of 4 unit rents
  • Remarks occupancy 100%

4 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 30720, FY2027)shown for comparison

UnitBedsBathsMonthly RentHUD SAFMRElecGasWaterGarbMaint
Unit 121$1,150$1,200+$50NNYNY
Unit 2—————————
Unit 3—————————
Unit 4—————————
Total1 of 4 units with rent$1,150Y = 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 4 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.
Incomplete

Jeff’s Investment Take

Market data · October 2026

Working thesis

Rent coverage or MLS financials are too thin to publish yields. Request the roll and T-12 before treating this as a screen.

  • Incomplete — 1 of 4 unit rents
  • Remarks occupancy 100%
Local market contextCore Metro
Med. close $/door$168,250321 closed · 12 mo
Med. asking rent$1,450
Months of supply8.5Active ÷ (12-mo closed ÷ 12)
County sold gross9.2%Rent ÷ close · T12 sold tape
County asking gross8.9%Rent ÷ list · live asks
County sold NOI cap5.9%Calculator stack on closes

Modeled from available FMLS data, unit mix, and operating assumptions and Core Metro benchmarks. DSCR and cash-on-cash use conventional terms (25% down / 7% / 30-yr) for ≤4 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 25% — 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.