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1300 Milstead Avenue Ne Conyers, GA 30012

3 Beds 2 Baths 1,582 sqft Built 1971

$229,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $144.75
  • 4 Days on Market
  • MLS # : 6836314
  • Updated Date : 02/05/2021 at 16:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,582 sqft
  • Baths : 2 full
Listing Agent's Description

Beautiful renovated 3 Bedroom, 2 1/2 bath full brick Ranch home with Metal Roof, less than a mile from Olde Town Conyers. Bright spacious open floorplan. Kitchen and baths with Granite countertops, stainless appliances and farmhouse sink. Rear entry attached garage with privacy gate on drive. Patio and large deck. Great for socially distanced entertaining! Wonderful location close to parks, restaurants, Piedmont Rockdale Hospital and easy access to Interstate 20. Come make this Great property your next home.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30012

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $72k209k

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

Zip Code: 30012

ZipNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7421509

* 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
Pine Street Elementary School Primary Regular 630 46 3
Conyers Middle School Middle Regular 859 58 4
Rockdale County High School High Regular 1,998 111 5

Pine Street Elementary School

  • Education Level: Primary
  • # of students: 630
  • # of teachers: 46
3
GreatSchools Rating

Conyers Middle School

  • Education Level: Middle
  • # of students: 859
  • # of teachers: 58
4
GreatSchools Rating

Rockdale County High School

  • Education Level: High
  • # of students: 1,998
  • # of teachers: 111
5
GreatSchools Rating
 

$206,100$251,900$229,000

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 -$795
Property Tax -$410
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$38

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.

$229,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.62%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$795

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$6,503

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
  • $0.9

    LIST RENT PER SQFT
  • $1,479

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,420
$1,420
RENT COMPS ANALYSIS
  • 1300 Milstead Avenue Ne Conyers, GA 3
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.90
    •  
  • 1106 Nw Mountain View Road Conyers, GA 1
    • 4 beds 2 baths ∙ 1,320 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,320 Sqft ∙ Built 1965
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.91
    •  
  • 1377 Peggy Lane Nw Conyers, GA 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1969
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.96
    •  
PROPERTY LISTING DETAILS
Harry Doster
1.678.977.5497
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6836314
Last Updated: 02/05/2021
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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