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1530 Ridgeland Court Sw Lilburn, GA 30047

5 Beds 3 Baths 2,607 sqft Built 1976

$340,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $130.42
  • 5 Days on Market
  • MLS # : 6837952
  • Updated Date : 02/12/2021 at 12:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,607 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome Home! This home offers so much living space. Enjoy a gorgeous sun room that leads to an oversized deck and overlooks the large fenced back yard. On the main level you will find a dining room, great room and perfect area for a sitting room or office. Upstairs is an oversized owner's suite with large closet. The basement is finished with a bedroom and entertaining area. There is no lack of storage space. The whole home features brand new carpet, paint as well refinished hard wood floors. The home is located with easy access to lots of shopping and restaurants.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Camp Creek Elementary School Primary Regular 975 69 9
Trickum Middle School Middle Regular 1,987 108 8
Parkview High School High Regular 2,834 152 8

Camp Creek Elementary School

  • Education Level: Primary
  • # of students: 975
  • # of teachers: 69
9
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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,181
Property Tax -$364
Property Insurance -$78
Property Management Fees -$119
CASH FLOW
$289

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.

$340,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.60%

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

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$42,992

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,255

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$1,9954$2,0305$2,200
$2,200
RENT COMPS ANALYSIS
  • 1530 Ridgeland Court Sw Lilburn, GA 4
    • 5 beds 3 baths ∙ 2,607 Sqft ∙ Built 1976 5 beds 3 baths ∙ 2,607 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.78
    •  
  • 5285 Silver Creek Drive Lilburn, GA 1
    • 4 beds 4 baths ∙ 2,336 Sqft ∙ Built 1982 4 beds 4 baths ∙ 2,336 Sqft ∙ Built 1982
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.85
    •  
  • 1337 Arlene Court Lilburn, GA 2
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 1979
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
  • 4705 Lincoln Way Lilburn, GA 3
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1972
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.88
    •  
  • 3859 Meandering Way Sw Lilburn, GA 5
    • 5 beds 4 baths ∙ 2,425 Sqft ∙ Built 1996 5 beds 4 baths ∙ 2,425 Sqft ∙ Built 1996
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
PROPERTY LISTING DETAILS
Stephanie Jackson
1.678.617.5575
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837952
Last Updated: 02/12/2021
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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