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151 Ellis Drive Conyers, GA 30012

3 Beds 3 Baths 1,562 sqft Built 2005

INVESTimate

$140,000

List Price

$1,300

$1,170 - $1,430

Rent Est.

$150,584  ( +7.56%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2005
  • Price/Sqft : $89.63
  • 10 Days on Market
  • MLS # : 6770051
  • Updated Date : 08/22/2020 at 18:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,562 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This beautiful 3 bed 2 1/2 bath brick front townhouse is located in the heart of Conyers. Laminated hardwood floors located throughout, kitchen has a breakfast bar that connects to the living space making it one big open area. Spacious bedrooms with plenty of closet space. The patio is the perfect spot for grilling or just relaxing after a long day. Don't let this one slip away, just minutes away from I-20, Rockdale Medical Center, and Rockdale County Courthouse!!

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Milstead Place

NeighborhoodNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $69k209k

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

Neighborhood: Milstead Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7841509

* 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
 

$126,000$154,000$140,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$517
Property Tax -$250
Property Insurance -$57
HOA -$160
Property Management Fees -$119
CASH FLOW
$197

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.

$140,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.93%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.56%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$42,850

INVESTMENT

$42,850

Down Payment
$35,000
Rehab Estimate
$5,750
Closing Costs
$2,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$517

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $35,000
Loan Amount $105,000
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$16,427

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,312

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,4004$1,4255$1,450
$1,450
RENT COMPS ANALYSIS
  • 151 Ellis Drive Conyers, 1
    • 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.83
    •  
  • 2084 Belmont Circle Conyers, 2
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2019
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 2144 Belmont Circle Conyers, 3
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2019
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 2140 Belmont Circle Conyers, 4
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2019
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.84
    •  
  • 2062 Belmont Circle Conyers, 5
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2019
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
PROPERTY LISTING DETAILS
Wanda Langley
1.404.924.0641
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770051
Last Updated: 08/22/2020
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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