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122 Golightly Street Fairburn, GA 30213

3 Beds 2 Baths 1,008 sqft Built 1983

$229,900

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $228.08
  • 4 Days on Market
  • MLS # : 6842233
  • Updated Date : 02/19/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,008 sqft
  • Baths : 2 full
Listing Agent's Description

LIKE NEW! This fully remodeled home has it all-open concept with combining dining and living space, luxury floors throughout, new stainless steel appliances, gorgeous granite countertops, large bedrooms, minutes from downtown, the airport, shopping, dining and all major interstates. This home won't last! Hurry before its gone! Please use all CDC guidelines including wearing masks and social distancing

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Zip Code: 30213

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30213

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171521

* 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
Campbell Elementary School Primary Regular 882 67 4
Renaissance Middle School Middle Regular 1,208 83 3
Langston Hughes High School High Regular 1,890 105 3

Campbell Elementary School

  • Education Level: Primary
  • # of students: 882
  • # of teachers: 67
4
GreatSchools Rating

Renaissance Middle School

  • Education Level: Middle
  • # of students: 1,208
  • # of teachers: 83
3
GreatSchools Rating

Langston Hughes High School

  • Education Level: High
  • # of students: 1,890
  • # of teachers: 105
3
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$799
Property Tax -$182
Property Insurance -$47
Property Management Fees -$119
CASH FLOW
$14

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.

$229,900

PROJECTED PRICE

$1,160

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.6%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$8,671

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,159

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,160
1$1,1602$1,2503$1,395
$1,395
RENT COMPS ANALYSIS
  • 122 Golightly Street Fairburn, GA 1
    • 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $1.15
    •  
  • 529 Mehaffey Drive Fairburn, GA 2
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1965
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.14
    •  
  • 211 Margaret Street Fairburn, GA 3
    • 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 2003
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.16
    •  
PROPERTY LISTING DETAILS
Kim Anderson
1.404.369.1980
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6842233
Last Updated: 02/19/2021
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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