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172 Lotus Circle Mcdonough, GA 30252

5 Beds 4 Baths 2,759 sqft Built 2021

$345,900

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $125.37
  • 7 Days on Market
  • MLS # : 6826386
  • Updated Date : 01/12/2021 at 08:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,759 sqft
  • Baths : 4 full
Listing Agent's Description

The Jasmine Plan built by Heatherland Homes. This home has a open concept consisting of a spacious kitchen w/breakfast bar, overlooking the great room. Two covered porches on back of home. Stainless steel kitchen appliances such as double oven, range cook top, microwave and dishwasher. Wood flooring on main level, oak stained staircase with metal rails. Front and Back Yard. 4 Side-Brick home. Located in Henry County School District. Home of Top College Success Award Winners.

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Zip Code: 30252

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k220k

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

Zip Code: 30252

ZipNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9731556

* 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
Ola Elementary School Primary Regular 869 57 7
Henry County Middle School Middle Regular 789 49 3
Henry County High School High Regular 1,031 116 3

Ola Elementary School

  • Education Level: Primary
  • # of students: 869
  • # of teachers: 57
7
GreatSchools Rating

Henry County Middle School

  • Education Level: Middle
  • # of students: 789
  • # of teachers: 49
3
GreatSchools Rating

Henry County High School

  • Education Level: High
  • # of students: 1,031
  • # of teachers: 116
3
GreatSchools Rating
 

$311,310$380,490$345,900

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,201
Property Tax -$399
Property Insurance -$80
HOA -$46
Property Management Fees -$119
CASH FLOW
$454

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$345,900

PROJECTED PRICE

$2,300

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 3.00%
Vacancy 7.33%
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$25k

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$93,664

INVESTMENT

$93,664

Down Payment
$86,475
Rehab Estimate
$2,000
Closing Costs
$5,189

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,201

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,475
Loan Amount $259,425
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$61,997

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,876

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,8253$2,1454$2,300
$2,300
RENT COMPS ANALYSIS
  • 172 Lotus Circle Mcdonough, GA 4
    • 5 beds 4 baths ∙ 2,759 Sqft ∙ Built 2021 5 beds 4 baths ∙ 2,759 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.83
    •  
  • 140 Fashion Crossing Mcdonough, GA 1
    • 4 beds 3 baths ∙ 2,989 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,989 Sqft ∙ Built 2004
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.53
    •  
  • 461 Best Friends Turn Alley Mcdonough, GA 2
    • 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2017
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.68
    •  
  • 177 Scenic Drive Mcdonough, GA 3
    • 6 beds 4 baths ∙ 2,582 Sqft ∙ Built 2003 6 beds 4 baths ∙ 2,582 Sqft ∙ Built 2003
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.83
    •  
PROPERTY LISTING DETAILS
Tamra Wade
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6826386
Last Updated: 01/12/2021
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. © 2017 First Multiple Listing Service, Inc.

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