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2052 Chestnut Log Drive Lithia Springs, GA 30122

3 Beds 2 Baths 1,154 sqft Built 1982

$159,750

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $138.43
  • 5 Days on Market
  • MLS # : 6812891
  • Updated Date : 11/26/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,154 sqft
  • Baths : 2 full
Listing Agent's Description

You'll Love This Charming Home With New Luxury Plank Flooring. Greatroom With Fireplace, Open Concept Plan & Updated Sunny Chef's Kitchen! Refrigerator/Washer/Dryer Remain! Beautiful Patio Overlooking Lovely Backyard To Enjoy Nature's Beauty. Lower Level Is Wonderful With Bonus Room/Playroom/Huge Laundry/Pantry/Storage. Family Room. Rec Room With Recessed Lighting. Some Furniture & Trampoline Negotiable! So Neat & Clean! Conveniently Located -- Close To Suntrust Park, Airport, I-20, Shopping & More!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)
  • #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)

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
 

$143,775$175,725$159,750

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$589
Property Tax -$146
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$286

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.

$159,750

PROJECTED PRICE

$1,190

PROJECTED RENT

0.74%

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$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$48,084

INVESTMENT

$48,084

Down Payment
$39,938
Rehab Estimate
$5,750
Closing Costs
$2,396

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$589

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $39,938
Loan Amount $119,813
See What Happens When You Reinvest Cash Flow

11.92

YEARS SAVED

$35,175

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,190
1$1,190
$1,190
RENT COMPS ANALYSIS
  • 2052 Chestnut Log Drive Lithia Springs, GA
    • 3 beds 2 baths ∙ 1,154 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,154 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $1.03
    •  
PROPERTY LISTING DETAILS
Debbie P Forrester
1.404.409.0377
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6812891
Last Updated: 11/26/2020
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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