Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1545 Fenmore Street Lithia Springs, GA 30122

4 Beds 3 Baths 2,002 sqft Built 2002

$209,999

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $104.89
  • 2 Days on Market
  • MLS # : 6803428
  • Updated Date : 11/02/2020 at 12:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,002 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Exciting home for first time buyer or investor! Spacious floor plan features entrance foyer, carpet and hardwood flooring throughout, separate dining room. Kitchen has ample storage space and pantry. HVAC and WH replaced last year. This is your time to conveniently live near Six Flags, Sweetwater Creek State Park, and Fulton County Airport!

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: Sweetwater

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $82k227k

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

Neighborhood: Sweetwater

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8171585

* 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
New Manchester Elementary School Primary Regular 876 48 4
Factory Shoals Middle School Middle Regular 854 47 5
New Manchester High School High Regular 1,680 95 4

New Manchester Elementary School

  • Education Level: Primary
  • # of students: 876
  • # of teachers: 48
4
GreatSchools Rating

Factory Shoals Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 47
5
GreatSchools Rating

New Manchester High School

  • Education Level: High
  • # of students: 1,680
  • # of teachers: 95
4
GreatSchools Rating
 

$188,999$230,999$209,999

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$775
Property Tax -$244
Property Insurance -$66
HOA -$42
Property Management Fees -$119
CASH FLOW
$235

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.

$209,999

PROJECTED PRICE

$1,480

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.7%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,499
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$27,648

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,241

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,480
$1,480
RENT COMPS ANALYSIS
  • 1545 Fenmore Street Lithia Springs, GA 2
    • 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.74
    •  
  • 7190 Walton Reserve Lane Austell, GA 1
    • 4 beds 3 baths ∙ 2,103 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,103 Sqft ∙ Built 2018
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.62
    •  
PROPERTY LISTING DETAILS
Tim Hardeman
1.678.608.2546
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803428
Last Updated: 11/02/2020
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.

BESbswy