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1459 Ridgeland Court Sw Lilburn, GA 30047

4 Beds 2 Baths 1,964 sqft Built 1976

$240,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $122.20
  • 3 Days on Market
  • MLS # : 6807769
  • Updated Date : 11/21/2020 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,964 sqft
  • Baths : 2 full
Listing Agent's Description

LOCATION, LOCATION, LOCATION!! YOU WILL LOVE THIS THREE SIDE BRICK HOUSE SITUATED IN A FANTASTIC SUBDIVISION AND GREAT SCHOOL DISTRICT. GREAT FOR ENTERTAINING GUESTS. THERE IS A SUNROOM BESIDE THE FAMILY ROOM AND A NICE DECK WITH GREAT VIEW TO THE BACK YARD. BEAUTIFUL EAT IN  KITCHEN WITH VIEW TO THE FAMILY ROOM, SEPARATE DINING AND LIVING ROOM. SPACIOUS FENCED BACK YARD.

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)
  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30047

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30047

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Mountain Park Elementary School Primary Regular 596 36 7
Trickum Middle School Middle Regular 1,987 108 8
Parkview High School High Regular 2,834 152 8

Mountain Park Elementary School

  • Education Level: Primary
  • # of students: 596
  • # of teachers: 36
7
GreatSchools Rating

Trickum Middle School

  • Education Level: Middle
  • # of students: 1,987
  • # of teachers: 108
8
GreatSchools Rating

Parkview High School

  • Education Level: High
  • # of students: 2,834
  • # of teachers: 152
8
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$886
Property Tax -$257
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$284

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.

$240,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
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$0.0$5.0k$10k$15k$20k

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$45,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,606

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6104$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 1459 Ridgeland Court Sw Lilburn, GA 3
    • 4 beds 2 baths ∙ 1,964 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,964 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.82
    •  
  • 4996 Green Oak Drive Sw Lilburn, GA 1
    • 4 beds 2 baths ∙ 1,954 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,954 Sqft ∙ Built 1973
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
  • 4955 Fox Forest Drive Sw Lilburn, GA 2
    • 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 1971
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.81
    •  
  • 1472 Silver Maple Court Sw Lilburn, GA 4
    • 4 beds 3 baths ∙ 1,880 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,880 Sqft ∙ Built 1985
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 1308 Chesapeake Drive Sw Lilburn, GA 5
    • 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 1980
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
PROPERTY LISTING DETAILS
Tesfaledet Baye
1.404.451.3544
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6807769
Last Updated: 11/21/2020
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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