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122 Edgar Court Hiram, GA 30141

3 Beds 2 Baths 1,624 sqft Built 1992

$225,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $138.55
  • 6 Days on Market
  • MLS # : 6820831
  • Updated Date : 12/23/2020 at 14:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,624 sqft
  • Baths : 2 full
Listing Agent's Description

Welcome to this amazing renovated cape cod in a Cul De Sac, Fantastic neighborhood with a large front Porch and Backyard! Freshly painted Interior and Exterior, Wood plank tile throughout main floor and Basement and new carpet in upstairs bedrooms & staircases. Updated kitchen with marble countertops and herringbone backsplash. New front and backdoors, New garage doors, New double vanity in Master Bath with quartz countertop and updated light fixtures throughout the house.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30141

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $87k209k

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

Zip Code: 30141

ZipNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500Rent in $9651509

* 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
Hal Hutchens Elementary School Primary Regular 799 53 6
Austin Middle School Middle Regular 877 51 7
Hiram High School High Regular 1,636 80 5

Hal Hutchens Elementary School

  • Education Level: Primary
  • # of students: 799
  • # of teachers: 53
6
GreatSchools Rating

Austin Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 51
7
GreatSchools Rating

Hiram High School

  • Education Level: High
  • # of students: 1,636
  • # of teachers: 80
5
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$830
Property Tax -$199
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$154

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.

$225,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.7%
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

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$26,250

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,372

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2953$1,3604$1,4455$1,475
$1,475
RENT COMPS ANALYSIS
  • 122 Edgar Court Hiram, GA 3
    • 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.84
    •  
  • 21 Poole Bridge Court Hiram, GA 1
    • 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 1994
    property image
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.77
    •  
  • 43 Oak Landing Circle Douglasville, GA 2
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1992
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.86
    •  
  • 73 Brandon Woods Circle Hiram, GA 4
    • 4 beds 2 baths ∙ 1,582 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,582 Sqft ∙ Built 1993
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.91
    •  
  • 392 Paradise Crossing Douglasville, GA 5
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 2002
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.84
    •  
PROPERTY LISTING DETAILS
Maria Estrella
1.770.286.1939
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6820831
Last Updated: 12/23/2020
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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