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2050 Pintail Cove Lithonia, GA 30058

3 Beds 2 Baths 1,276 sqft Built 1986

$145,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $113.64
  • 3 Days on Market
  • MLS # : 6825503
  • Updated Date : 01/09/2021 at 11:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,276 sqft
  • Baths : 2 full
Listing Agent's Description

Beautiful, well located and updated 3 bed, 2 bath home with large new deck and backyard for entertaining. New appliances with granite counters. Large bedrooms and additional extra large bonus room adjacent to living room for potential bedroom, workout room, office or storage. Excellent floor plan with living room featuring a fireplace and dining room just off the kitchen. Split-level home provides for comfort and privacy with a small staircases leading to bedrooms. Convenient to shopping, dining and more.

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

Zip Code: 30058

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30058

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171509

* 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
Panola Way Elementary School Primary Regular 863 53 2
Miller Grove Middle School Middle Regular 977 61 3
Miller Grove High School High Regular 1,551 83 4

Panola Way Elementary School

  • Education Level: Primary
  • # of students: 863
  • # of teachers: 53
2
GreatSchools Rating

Miller Grove Middle School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 61
3
GreatSchools Rating

Miller Grove High School

  • Education Level: High
  • # of students: 1,551
  • # of teachers: 83
4
GreatSchools Rating
 

$130,500$159,500$145,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$504
Property Tax -$210
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$365

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.

$145,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
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

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$44,175

INVESTMENT

$44,175

Down Payment
$36,250
Rehab Estimate
$5,750
Closing Costs
$2,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$504

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $36,250
Loan Amount $108,750
See What Happens When You Reinvest Cash Flow

14

YEARS SAVED

$33,497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,000

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,125
1$1,1252$1,1503$1,2104$1,250
$1,250
RENT COMPS ANALYSIS
  • 2050 Pintail Cove Lithonia, GA 4
    • 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.98
    •  
  • 1418 Jon Juca Court Stone Mountain, GA 1
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1968
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $0.83
    •  
  • 2116 Scarbrough Road Stone Mountain, GA 2
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1984
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.72
    •  
  • 2063 Wellborn Close Lithonia, GA 3
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1984
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.80
    •  
PROPERTY LISTING DETAILS
Neil Lansing
1.404.798.1821
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6825503
Last Updated: 01/09/2021
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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