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1000 Havenridge Drive Sw Conyers, GA 30094

3 Beds 2 Baths 1,703 sqft Built 1973

$178,900

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $105.05
  • 3 Days on Market
  • MLS # : 6837319
  • Updated Date : 02/06/2021 at 10:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,703 sqft
  • Baths : 2 full
Listing Agent's Description

This Charming all brick ranch style home is nestled in a quiet & wooded neighborhood that’s only minutes away from Hwy20, Stonecrest Mall, & Covington. The property features 3 bedrooms, 2 baths, beautiful hardwood floors, and a large deck & back yard that overlook a creek. New roof, and well maintained throughout, this home is move-in ready, also offers great potential for renovating, and a very large semi unfinished basement that could create additional living space.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Headquarters to twenty-six Fortune 500 companies: The Home Depot, UPS, Delta Air Lines, The Coca-Cola Company, SunTrust Banks, The Southern Company, AGCO, PulteGroup (Fortune, 2018/ Metro Atlanta Chamber)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Havenridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $79k209k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Havenridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8131509

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Shoal Creek Elementary School Primary Regular 718 47 5
General Ray Davis Middle School Middle Regular 1,012 62 6
Heritage High School High Regular 1,814 86 5

Shoal Creek Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 47
5
GreatSchools Rating

General Ray Davis Middle School

  • Education Level: Middle
  • # of students: 1,012
  • # of teachers: 62
6
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students: 1,814
  • # of teachers: 86
5
GreatSchools Rating
 

$161,010$196,790$178,900

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$621
Property Tax -$204
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$416

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$178,900

PROJECTED PRICE

$1,420

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,159

INVESTMENT

$53,159

Down Payment
$44,725
Rehab Estimate
$5,750
Closing Costs
$2,684

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$621

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,725
Loan Amount $134,175
See What Happens When You Reinvest Cash Flow

13.67

YEARS SAVED

$40,226

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,420

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,362

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,420
$1,420
RENT COMPS ANALYSIS
  • 1000 Havenridge Drive Sw Conyers, GA 2
    • 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.83
    •  
  • 1096 West Adrian Cir Sw Conyers, GA 1
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1977
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.80
    •  
PROPERTY LISTING DETAILS
Michael Bolet
1.404.964.6073
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837319
Last Updated: 02/06/2021
support@investimateroi.com

Listings identified with the FMLS IDX logo come from FMLS, are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. Copyright (c) 2021 First Multiple Listing Service, Inc.

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