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1985 Chestnut Log Drive Lithia Springs, GA 30122

5 Beds 2 Baths 2,600 sqft Built 1973

$229,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $88.08
  • 9 Days on Market
  • MLS # : 6823457
  • Updated Date : 01/04/2021 at 13:16
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,600 sqft
  • Baths : 2 full
Listing Agent's Description

Beautifully renovated brick ranch on a full finished basement features new roof, gutters, windows, plumbing, electrical, AC, flooring siding, renovated bathrooms, new light fixtures, and much more. Enjoy gatherings in the spacious family room or entertain in the separate dining or in your finished basement. You'll love cooking meals in your new kitchen featuring new cabinets, granite countertops, backsplash, and new stainless steel appliances. Relax in your covered front porch or back deck or spend your evenings sitting by the fireplace.

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).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • 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)
  • 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

Neighborhood: Chestnut Log

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200kPrice in $59k209k

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

Neighborhood: Chestnut Log

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7421509

* 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
Factory Shoals Middle School Middle Regular 854 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

Factory Shoals Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 47
5
GreatSchools Rating

Lithia Springs Comprehensive High School

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

$206,100$251,900$229,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$795
Property Tax -$209
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
$329

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.

$229,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.7%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$795

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$36,391

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $1,690

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,750
$1,750
RENT COMPS ANALYSIS
  • 1985 Chestnut Log Drive Lithia Springs, GA 1
    • 5 beds 2 baths ∙ 2,600 Sqft ∙ Built 1973 5 beds 2 baths ∙ 2,600 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.59
    •  
  • 3138 Beechwood Drive Lithia Springs, GA 2
    • 5 beds 3 baths ∙ 2,676 Sqft ∙ Built 1969 5 beds 3 baths ∙ 2,676 Sqft ∙ Built 1969
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.65
    •  
PROPERTY LISTING DETAILS
Ana Hodge
1.770.298.2226
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6823457
Last Updated: 01/04/2021
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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