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1463 Alice Avenue Lithonia, GA 30058

3 Beds 3 Baths 2,468 sqft Built 2004

$239,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $97.20
  • 7 Days on Market
  • MLS # : 6801613
  • Updated Date : 01/15/2021 at 08:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,468 sqft
  • Baths : 3 full
Listing Agent's Description

This beautiful traditional one-story ranch is nested in the highly sought-after Greystone Woods subdivision! A Well-Kept Community and home that's minutes from I-20. Offering 3beds/3baths, formal living room, dining room, large eat-in kitchen w/plenty of cabinet space and tiled floors, and a spacious family room w/ fireplace. The master suite is on the main and a great retreat designed with a large walk-in closet, high ceilings, and a garden tub. Seller desires to stay in the home until April 30, 2021. *Please adhere to COVID-19 protocols: Face Mask and hand glove!

SEE MORE

MARKET HIGHLIGHTS

  • #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).
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Zip Code: 30058

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30058

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171509

* 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
Princeton Elementary School Primary Regular 924 53 2
Stephenson Middle School Middle Regular 1,006 58 4
Stephenson High School High Regular 1,599 84 4

Princeton Elementary School

  • Education Level: Primary
  • # of students: 924
  • # of teachers: 53
2
GreatSchools Rating

Stephenson Middle School

  • Education Level: Middle
  • # of students: 1,006
  • # of teachers: 58
4
GreatSchools Rating

Stephenson High School

  • Education Level: High
  • # of students: 1,599
  • # of teachers: 84
4
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$833
Property Tax -$313
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$130

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.

$239,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.9%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$14,447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $1,505

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,4953$1,5654$1,585
$1,585
RENT COMPS ANALYSIS
  • 1463 Alice Avenue Lithonia, GA 1
    • 3 beds 3 baths ∙ 2,468 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,468 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.60
    •  
  • 7162 Mill Arbor Court Lithonia, GA 2
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2004
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.67
    •  
  • 1022 Cherry Laurel Drive Lithonia, GA 3
    • 4 beds 2 baths ∙ 2,735 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,735 Sqft ∙ Built 1991
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.57
    •  
  • 1667 Cutters Mill Drive Lithonia, GA 4
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2003
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.59
    •  
PROPERTY LISTING DETAILS
Benjamin Kuku
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6801613
Last Updated: 01/15/2021
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. © 2017 First Multiple Listing Service, Inc.

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