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2 Fairway Lane Peachtree City, GA 30269

3 Beds 3 Baths 1,741 sqft Built 1975

$189,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $109.08
  • 6 Days on Market
  • MLS # : 6829725
  • Updated Date : 01/20/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,741 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome home to Peachtree City! This recently renovated 3 bedroom, 2 bathroom condo sits adjacent to Lake Peachtree. This home features beautiful hardwood floors in the main living areas. The covered patio is perfect for entertaining guests. The master bedroom features private access to the second floor balcony, perfect for relaxing and enjoying the view. This community sits just minutes away from the Flat Creek Country Club as well as local shopping and dining. Come see this beautiful property today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Zip Code: 30269

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k342k

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

Zip Code: 30269

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9732169

* 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
Peachtree City Elementary School Primary Regular 514 33 9
J.c. Booth Middle School Middle Regular 1,206 72 9
Mcintosh High School High Regular 1,664 93 9

Peachtree City Elementary School

  • Education Level: Primary
  • # of students: 514
  • # of teachers: 33
9
GreatSchools Rating

J.c. Booth Middle School

  • Education Level: Middle
  • # of students: 1,206
  • # of teachers: 72
9
GreatSchools Rating

Mcintosh High School

  • Education Level: High
  • # of students: 1,664
  • # of teachers: 93
9
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$660
Property Tax -$180
Property Insurance -$61
HOA -$294
Property Management Fees -$119
CASH FLOW
$317

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.

$189,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
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$16k

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$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$34,286

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,741

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,9503$2,065
$2,065
RENT COMPS ANALYSIS
  • 2 Fairway Lane Peachtree City, GA 1
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.94
    •  
  • 233 Cedar Drive Peachtree City, GA 2
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1972
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.95
    •  
  • 103 Crossbow Court Peachtree City, GA 3
    • 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1975 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1975
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,065
    • $1.05
    •  
PROPERTY LISTING DETAILS
Samantha Edelstein
1.770.500.4242
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6829725
Last Updated: 01/20/2021
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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