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PROPERTY INFO
FACTS
- Single Family
- Built In 1988
- Price/Sqft : $103.55
- 21 Days on Market
- MLS # : 6821313
- Updated Date : 01/04/2021 at 16:07
CONSTRUCTION
- Beds : 6
- Floor Size : 2,453 sqft
- Baths : 4 full
Listing Agent's Description
A rare find, a lovely split-level home with 6 bedrooms and 4 baths. It sits on a level lot in a cul-de-sac. The kitchen offers plenty of cabinet space, a pantry, a breakfast area that opens to the living room filled with natural light. There is a a cozy fireplace in the family room and a separate dining room. The home has a new roof. It also has an outbuilding for extra storage space. This home has been a state regulated Personal Care Home since 2003. It has a fire alarm system - alarm & strobe lights with battery back-up , pulls, sprinklers, smoke detectors.
SEE MORE
- #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
Zip Code: 30058
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 30058
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,800 |
| EXPENSES | Loan Payment | -$882 |
| Property Tax | -$368 | |
| Property Insurance | -$75 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$356
|
||
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.
$254,000
PROJECTED PRICE
$1,800
PROJECTED RENT
0.71%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$73,060
LOAN DETAILS
$882
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $63,500 |
| Loan Amount | $190,500 |
9.67
YEARS SAVED
$36,499
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,800
LIST RENT -
$0.73
LIST RENT PER SQFT
-
$1,913
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
-
2038 Mallard Way Lithonia, GA 1
- 6 beds 4 baths ∙ 2,453 Sqft ∙ Built 1988 6 beds 4 baths ∙ 2,453 Sqft ∙ Built 1988
![property image]()
- Rent
- Rent Per SQFT
- $1,800
- $0.73
-
6263 Giles Road Lithonia, GA 2
- 5 beds 4 baths ∙ 2,709 Sqft ∙ Built 1986 5 beds 4 baths ∙ 2,709 Sqft ∙ Built 1986
![property image]()
LEASED 01/12/20- Rent
- Rent Per SQFT
- $2,100
- $0.78
PROPERTY LISTING DETAILS
1.404.697.6681
1.866.250.5610
RentVest Georgia LLC
H-75957
MLS #: 6821313
Last Updated: 01/04/2021
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.
