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154 Ellis Drive Conyers, GA 30012

3 Beds 3 Baths 1,573 sqft Built 2005

$142,000

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $90.27
  • 4 Days on Market
  • MLS # : 6815424
  • Updated Date : 12/04/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,573 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

STOP the CAR and Welcome Home- Here you have a 3/2.5 townhome with tile flooring on the main floor, Stainless Steel Kitchen appliances, plenty of cabinet storage, half bathroom on the main, 1 car garage! New carpet will be installed prior to closing, laundry closet upstairs, private patio, Master bathroom with separate shower & garden tub with a nice walk-in closet, 2ndry rooms down the hall with bathroom! Seller(s) will offer paint allowance up to $1,500...HOA includes Termites, Water, Lawn Service,and common areas! FHA APPROVED...

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MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • 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)
  • 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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
 

$127,800$156,200$142,000

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$524
Property Tax -$254
Property Insurance -$58
HOA -$160
Property Management Fees -$119
CASH FLOW
$86

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.

$142,000

PROJECTED PRICE

$1,200

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$43,380

INVESTMENT

$43,380

Down Payment
$35,500
Rehab Estimate
$5,750
Closing Costs
$2,130

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$524

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $35,500
Loan Amount $106,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$6,581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,321

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3503$1,4004$1,4255$1,450
$1,450
RENT COMPS ANALYSIS
  • 154 Ellis Drive Conyers, GA 1
    • 3 beds 3 baths ∙ 1,573 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,573 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.76
    •  
  • 2084 Belmont Circle Conyers, GA 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, GA 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, GA 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, GA 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
Ocie J Murphy
1.770.481.8250
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815424
Last Updated: 12/04/2020
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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