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1907 Piedmont Pointe Drive Lithonia, GA 30058

4 Beds 3 Baths 2,671 sqft Built 2008

$260,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $97.34
  • 4 Days on Market
  • MLS # : 6833661
  • Updated Date : 01/29/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,671 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Don't miss this 4 bedroom, 3.5 bath home in Lithonia. Home includes a formal living room, dining room with judges paneling, and family room with fireplace. The kitchen features a breakfast area, island, and pantry. The vaulted master showcases a large walk-in closet, double vanity, garden tub, and separate shower. All secondary bedrooms include walk-in closets also. Home is located close to I-20 and shopping. Use one of our preferred lenders and receive $500 lender credit. Showings only on Saturday between 9 AM - 4 PM.

SEE MORE

MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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 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
Rock Chapel Elementary School Primary Regular 499 33 4
Lithonia Middle School Middle Regular 1,158 71 2
Lithonia High School High Regular 1,315 77 3

Rock Chapel Elementary School

  • Education Level: Primary
  • # of students: 499
  • # of teachers: 33
4
GreatSchools Rating

Lithonia Middle School

  • Education Level: Middle
  • # of students: 1,158
  • # of teachers: 71
2
GreatSchools Rating

Lithonia High School

  • Education Level: High
  • # of students: 1,315
  • # of teachers: 77
3
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$903
Property Tax -$377
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
$142

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.

$260,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.62%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$15,107

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,736

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,585
1$1,5852$1,6203$1,945
$1,945
RENT COMPS ANALYSIS
  • 1907 Piedmont Pointe Drive Lithonia, GA 2
    • 4 beds 3 baths ∙ 2,671 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,671 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.61
    •  
  • 1667 Cutters Mill Drive Lithonia, GA 1
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2003
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.59
    •  
  • 2478 Osceola Road Lithonia, GA 3
    • 4 beds 3 baths ∙ 2,737 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,737 Sqft ∙ Built 2017
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.71
    •  
PROPERTY LISTING DETAILS
Shannon Watkins
1.678.462.9648
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6833661
Last Updated: 01/29/2021
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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