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1705 Silver Creek Drive Lithia Springs, GA 30122

4 Beds 3 Baths 1,367 sqft Built 1996

INVESTimate

$220,000

List Price

$1,210

$1,089 - $1,331

Rent Est.

$239,052  ( +8.66%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $160.94
  • 4 Days on Market
  • MLS # : 6769973
  • Updated Date : 08/24/2020 at 14:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,367 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome to this well-maintained home in a quiet neighborhood. Main level has an open floor plan. There is a large back yard perfect for kids to play and a deck ideal for entertaining. Home has a finished basement with a lot of extra space.

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: Silver Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Silver Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171509

* 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
Sweetwater Elementary School Primary Regular 579 39 3
Turner Middle School Middle Regular 792 47 5
Lithia Springs Comprehensive High School High Regular 1,483 88 4

Sweetwater Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 39
3
GreatSchools Rating

Turner Middle School

  • Education Level: Middle
  • # of students: 792
  • # of teachers: 47
5
GreatSchools Rating

Lithia Springs Comprehensive High School

  • Education Level: High
  • # of students: 1,483
  • # of teachers: 88
4
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$812
Property Tax -$201
Property Insurance -$54
HOA -$25
Property Management Fees -$119
CASH FLOW
$0

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.

$220,000

PROJECTED PRICE

$1,210

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.66%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$8,181

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,107

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,160
1$1,1602$1,2103$1,350
$1,350
RENT COMPS ANALYSIS
  • 1705 Silver Creek Drive Lithia Springs, 2
    • 4 beds 2 baths ∙ 1,367 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,367 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.89
    •  
  • 6652 Ivy Log Drive Austell, 1
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1981
    property image
    LEASED 03/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $0.79
    •  
  • 7036 Ivy Pointe Row Austell, 3
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1988
    property image
    LEASED 05/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.83
    •  
PROPERTY LISTING DETAILS
Mark Spain
1.770.886.9000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6769973
Last Updated: 08/24/2020
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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