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1808 Gingham Court Lithonia, GA 30058

3 Beds 3 Baths 1,036 sqft Built 1982

$145,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $139.96
  • 3 Days on Market
  • MLS # : 6840115
  • Updated Date : 02/13/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,036 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Great home for a first time homebuyer or investor. This 3 bed/ 2.5 bath split level is perfect for those looking for a low maintenance home waiting for your special decorative touch. The property is nestled in a quiet neighborhood and features hardwood floors throughout, natural light, a spacious bonus room and large fenced in backyard. Home has lots of potential and ready for a buyer to move-in.

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: 30058

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30058

ZipNIR 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
Panola Way Elementary School Primary Regular 863 53 2
Redan Middle School Middle Regular 762 53 4
Redan High School High Regular 1,107 66 3

Panola Way Elementary School

  • Education Level: Primary
  • # of students: 863
  • # of teachers: 53
2
GreatSchools Rating

Redan Middle School

  • Education Level: Middle
  • # of students: 762
  • # of teachers: 53
4
GreatSchools Rating

Redan High School

  • Education Level: High
  • # of students: 1,107
  • # of teachers: 66
3
GreatSchools Rating
 

$130,500$159,500$145,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$504
Property Tax -$210
Property Insurance -$47
Property Management Fees -$119
CASH FLOW
$350

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.

$145,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$44,175

INVESTMENT

$44,175

Down Payment
$36,250
Rehab Estimate
$5,750
Closing Costs
$2,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$504

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $36,250
Loan Amount $108,750
See What Happens When You Reinvest Cash Flow

13.67

YEARS SAVED

$32,570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,230
$1,230
RENT COMPS ANALYSIS
  • 1808 Gingham Court Lithonia, GA
    • 3 beds 3 baths ∙ 1,036 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,036 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.19
    •  
PROPERTY LISTING DETAILS
Shaunette Young
1.404.271.2648
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6840115
Last Updated: 02/13/2021
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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