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106 Massey Lane Locust Grove, GA 30248

3 Beds 2 Baths 1,344 sqft Built 1997

$209,900

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $156.18
  • 2 Days on Market
  • MLS # : 6814455
  • Updated Date : 12/19/2020 at 20:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 2 full
Listing Agent's Description

Beautiful newly upgraded and remodeled spacious ranch with many features. New flooring, fresh neutral paint, new counter-tops, new Wood Shaker kitchen cabinets as well as new master bathroom cabinets. Remodeled bathrooms. All Stainless steel appliances. Doubled sided fireplace in great room. Master suite features double trey ceiling, walk-in closet; master bath has garden tub with separate shower. 1 acre lot with fenced back yard. Much more!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Barnes' Station

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Barnes' Station

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7951509

* 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
Locust Grove Elementary School Primary Regular 472 36 4
Locust Grove Middle School Middle Regular 980 52 4
Locust Grove High School High Regular 1,371 82 5

Locust Grove Elementary School

  • Education Level: Primary
  • # of students: 472
  • # of teachers: 36
4
GreatSchools Rating

Locust Grove Middle School

  • Education Level: Middle
  • # of students: 980
  • # of teachers: 52
4
GreatSchools Rating

Locust Grove High School

  • Education Level: High
  • # of students: 1,371
  • # of teachers: 82
5
GreatSchools Rating
 

$188,910$230,890$209,900

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 -$774
Property Tax -$231
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$243

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.

$209,900

PROJECTED PRICE

$1,420

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.0%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,374

INVESTMENT

$61,374

Down Payment
$52,475
Rehab Estimate
$5,750
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$774

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,475
Loan Amount $157,425
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$30,568

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
  • $1.06

    LIST RENT PER SQFT
  • $1,272

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2453$1,4204$1,615
$1,615
RENT COMPS ANALYSIS
  • 106 Massey Lane Locust Grove, GA 3
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.06
    •  
  • 361 Jasmine Drive Locust Grove, GA 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1998
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.77
    •  
  • 104 Waters Edge Drive Locust Grove, GA 2
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1998
    property image
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $1.03
    •  
  • 206 Nadia Court Locust Grove, GA 4
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2004
    property image
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,615
    • $1.04
    •  
PROPERTY LISTING DETAILS
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6814455
Last Updated: 12/19/2020
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. © 2017 First Multiple Listing Service, Inc.

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