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2020 Grayfield Drive Grayson, GA 30017

3 Beds 2 Baths 1,868 sqft Built 1986

$250,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $133.83
  • 4 Days on Market
  • MLS # : 6805208
  • Updated Date : 11/06/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,868 sqft
  • Baths : 2 full
Listing Agent's Description

Looking for a spacious and affordable home in the Grayson High School district? This updated home has everything you need. The main floor includes a large living area with fireplace and an extra private room suitable for an office or school room. On the middle level, you will enjoy the large, bright kitchen with stainless steel appliances and extra living area. The large 1/2 acre lot provides plenty of room for children and pets to play. This home has been freshly painted inside and out, with new carpet in the bedrooms as well.

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Zip Code: 30017

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30017

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Grayson Elementary School Primary Regular 831 59 9
Bay Creek Middle School Middle Regular 1,079 56 7
Grayson High School High Regular 2,767 155 7

Grayson Elementary School

  • Education Level: Primary
  • # of students: 831
  • # of teachers: 59
9
GreatSchools Rating

Bay Creek Middle School

  • Education Level: Middle
  • # of students: 1,079
  • # of teachers: 56
7
GreatSchools Rating

Grayson High School

  • Education Level: High
  • # of students: 2,767
  • # of teachers: 155
7
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$922
Property Tax -$254
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$111

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.

$250,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.2%
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$800k$900k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$25,709

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,490

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4153$1,4504$1,4705$1,675
$1,675
RENT COMPS ANALYSIS
  • 2020 Grayfield Drive Grayson, GA 4
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.79
    •  
  • 2141 Grayfield Drive Grayson, GA 1
    • 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 1987
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.81
    •  
  • 120 Grayview Court Grayson, GA 2
    • 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1997
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,415
    • $0.78
    •  
  • 1970 Shoreline Trace Grayson, GA 3
    • 4 beds 2 baths ∙ 1,883 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,883 Sqft ∙ Built 1982
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
  • 1934 Mcconnell Road Grayson, GA 5
    • 4 beds 2 baths ∙ 2,013 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,013 Sqft ∙ Built 1994
    LEASED 05/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.83
    •  
PROPERTY LISTING DETAILS
Shari Niemann
1.404.451.8053
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805208
Last Updated: 11/06/2020
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.

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