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1217 Lambeth Way Se Conyers, GA 30013

3 Beds 2 Baths 1,994 sqft Built 1990

$239,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $120.31
  • 3 Days on Market
  • MLS # : 6808429
  • Updated Date : 11/14/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,994 sqft
  • Baths : 2 full
Listing Agent's Description

ABSOLUTELY GORGEOUS MOVE - IN READY 4 SIDED BRICK IN SOUGHT AFTER NEIGHBORHOOD - HUGE FAMILYR OOM WITH DOUBLE SIDED FIREPLACE OPENING TO KEEPING ROOM AS WELL - FORMAL DINING WITH FLOOR TO CEILING WINDOWS AND AMAZING TREY CEILING - UPDATED KITCHEN WITH GRANITE COUNTER TOPS, TONS OF CABINETS AND COUNTER SPACE, BAR FOR EXTRA SEATING, AND KEEPING ROOM WITH FIREPLACE - OVERSIZED MASTER SUITE, MASTER BATH WITH DOUBLE VANITY, JETTED GARDEN TUB, SEPARATE SHOWER AND WALK IN CLOSET - TWO GOOD SIZE SECONDARY BEDROOMS, HALL BATH IN BETWEEN - LARGE LAUNDRY ROOM BETWEEN GARAGE AND K

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)
  • #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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Lambeth Estates

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $90k236k

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

Neighborhood: Lambeth Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8631596

* 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
Flat Shoals Elementary School Primary Regular 736 55 6
Memorial Middle School Middle Regular 950 62 4
Salem High School High Regular 1,370 69 4

Flat Shoals Elementary School

  • Education Level: Primary
  • # of students: 736
  • # of teachers: 55
6
GreatSchools Rating

Memorial Middle School

  • Education Level: Middle
  • # of students: 950
  • # of teachers: 62
4
GreatSchools Rating

Salem High School

  • Education Level: High
  • # of students: 1,370
  • # of teachers: 69
4
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$885
Property Tax -$274
Property Insurance -$66
HOA -$4
Property Management Fees -$119
CASH FLOW
$173

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$239,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$27,460

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,366

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,520
$1,520
RENT COMPS ANALYSIS
  • 1217 Lambeth Way Se Conyers, GA 3
    • 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.76
    •  
  • 1750 Poplar Street Se Conyers, GA 1
    • 3 beds 3 baths ∙ 2,115 Sqft ∙ Built 1973 3 beds 3 baths ∙ 2,115 Sqft ∙ Built 1973
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.64
    •  
  • 2660 Laurel Woods Lane Conyers, GA 2
    • 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 1989
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.73
    •  
PROPERTY LISTING DETAILS
Deon Cannon
1.404.630.2985
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808429
Last Updated: 11/14/2020
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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