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

191 Cowan Road Se Conyers, GA 30094

3 Beds 2 Baths 1,886 sqft Built 1991

$199,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $105.51
  • 5 Days on Market
  • MLS # : 6814954
  • Updated Date : 12/05/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,886 sqft
  • Baths : 2 full
Listing Agent's Description

With a little TLC, you can make this your dream home!! This 3bedroom, 2bathroom home is located on an acre of land. Honey Creek flows along a side border giving this property a taste of Rockdale's history. Owner's suite is located on the main floor with access to a huge deck that leads out a private backyard. A huge loft area provides additional living space. The outdoors was once wooded but has been cleared to allow you to enjoy a spacious yard. Did I mention that this homes comes with a FREE 1 year home warranty and a utility building. Schedule your showing today!

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Zip Code: 30094

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $90k209k

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

Zip Code: 30094

ZipNIR Market*CityMarket2010Year20002019 Q290095010001050110011501200125013001350140014501500Rent in $8631509

* 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
Barksdale Elementary School Primary Regular 584 38 7
General Ray Davis Middle School Middle Regular 1,012 62 6
Heritage High School High Regular 1,814 86 5

Barksdale Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 38
7
GreatSchools Rating

General Ray Davis Middle School

  • Education Level: Middle
  • # of students: 1,012
  • # of teachers: 62
6
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students: 1,814
  • # of teachers: 86
5
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$734
Property Tax -$227
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$216

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$199,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$31,410

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,333

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,245
1$1,2452$1,3603$1,5354$1,600
$1,600
RENT COMPS ANALYSIS
  • 191 Cowan Road Se Conyers, GA 2
    • 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.72
    •  
  • 4905 Cedar Court Se Conyers, GA 1
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 1990
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.70
    •  
  • 2950 Camary Place Drive Conyers, GA 3
    • 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1991
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.69
    •  
  • 5001 Se Bridlewood Circle Conyers, GA 4
    • 3 beds 2 baths ∙ 2,196 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,196 Sqft ∙ Built 1987
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
PROPERTY LISTING DETAILS
Lastacyeo Brooks
1.678.790.3320
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6814954
Last Updated: 12/05/2020
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