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130 Ontario Drive Fairburn, GA 30213

5 Beds 3 Baths 2,932 sqft Built 2007

$280,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $95.50
  • 3 Days on Market
  • MLS # : 6815019
  • Updated Date : 12/12/2020 at 08:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,932 sqft
  • Baths : 3 full
Listing Agent's Description

Great floorplan with a huge master bedroom. Upstairs features a spacious loft area and two other secondary bedrooms also the main level has a bedroom. The Kitchen has gorgeous granite countertops, stainless steel appliances and and an open concept combining the dining and living space. A nice size yard has a large patio deck awesome for get togethers...a must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (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)
  • #1 Most affordable big city (WalletHub, 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)

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
S. L. Lewis Elementary School Primary Regular 580 39 2
Bear Creek Middle School Middle Regular 962 71 4
Creekside High School High Regular 1,635 86 4

S. L. Lewis Elementary School

  • Education Level: Primary
  • # of students: 580
  • # of teachers: 39
2
GreatSchools Rating

Bear Creek Middle School

  • Education Level: Middle
  • # of students: 962
  • # of teachers: 71
4
GreatSchools Rating

Creekside High School

  • Education Level: High
  • # of students: 1,635
  • # of teachers: 86
4
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,033
Property Tax -$312
Property Insurance -$84
HOA -$25
Property Management Fees -$119
CASH FLOW
$107

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.

$280,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.60%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$17,217

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $1,657

    COMP ESTIMATED VALUE
  • $0.57

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6803$1,7654$1,8005$1,885
$1,885
RENT COMPS ANALYSIS
  • 130 Ontario Drive Fairburn, GA 2
    • 5 beds 3 baths ∙ 2,932 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,932 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.57
    •  
  • 620 Superior Way Fairburn, GA 1
    • 5 beds 3 baths ∙ 3,190 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,190 Sqft ∙ Built 2007
    LEASED 08/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.47
    •  
  • 7283 Toccoa Circle Union City, GA 3
    • 4 beds 3 baths ∙ 3,008 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,008 Sqft ∙ Built 2006
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $0.59
    •  
  • 7344 Melhana Lane Union City, GA 4
    • 5 beds 3 baths ∙ 3,174 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,174 Sqft ∙ Built 2004
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.57
    •  
  • 7340 Melhana Lane Union City, GA 5
    • 4 beds 3 baths ∙ 2,991 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,991 Sqft ∙ Built 2004
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.63
    •  
PROPERTY LISTING DETAILS
Keith Eatmon
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815019
Last Updated: 12/12/2020
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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