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1477 Rivermist Drive Sw Lilburn, GA 30047

4 Beds 4 Baths 2,702 sqft Built 1979

$415,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $153.59
  • 3 Days on Market
  • MLS # : 6856160
  • Updated Date : 03/20/2021 at 10:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,702 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

All brick home on a large corner lot in the highly sought after Rivermist subdivision. Served by the award winning Brookwood schools. Upgrades abound throughout this beautiful home. The kitchen has been updated with new cabinets, quartz countertops, farmhouse sink and stainless steel appliances. New flooring in the kitchen and family room. Formal living room and dining room are connected for a great entertainment space. Upstairs will not disappoint! The owner's suite is spacious and hosts an updated bathroom with oversized shower and double vanity. His and Hers closets.

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: 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
Head Elementary School Primary Regular 545 37 8
Five Forks Middle School Middle Regular 1,065 61 9
Brookwood High School High Regular 3,424 172 9

Head Elementary School

  • Education Level: Primary
  • # of students: 545
  • # of teachers: 37
8
GreatSchools Rating

Five Forks Middle School

  • Education Level: Middle
  • # of students: 1,065
  • # of teachers: 61
9
GreatSchools Rating

Brookwood High School

  • Education Level: High
  • # of students: 3,424
  • # of teachers: 172
9
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,441
Property Tax -$444
Property Insurance -$79
HOA -$48
Property Management Fees -$119
CASH FLOW
-$71

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.

$415,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.50%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,079

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,033

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9453$1,9504$2,0505$2,060
$2,060
RENT COMPS ANALYSIS
  • 1477 Rivermist Drive Sw Lilburn, GA 5
    • 4 beds 4 baths ∙ 2,702 Sqft ∙ Built 1979 4 beds 4 baths ∙ 2,702 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.76
    •  
  • 3832 Betty Jean Court Sw Lilburn, GA 1
    • 4 beds 3 baths ∙ 2,726 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,726 Sqft ∙ Built 1983
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.70
    •  
  • 1442 Hartman Drive Lilburn, GA 2
    • 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 1984
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.79
    •  
  • 1578 Rivermist Drive Sw Lilburn, GA 3
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1979
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
  • 3725 Colonial Trail Sw Lilburn, GA 4
    • 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 1996
    property image
    LEASED 03/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.75
    •  
PROPERTY LISTING DETAILS
Kathy Coots
1.770.654.8972
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6856160
Last Updated: 03/20/2021
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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