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2135 Grant Avenue Locust Grove, GA 30252

5 Beds 4 Baths 2,384 sqft Built 2006

$245,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $102.77
  • 5 Days on Market
  • MLS # : 6833189
  • Updated Date : 01/28/2021 at 08:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,384 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

This amazing home has all the space you would need for a growing family, includes a formal dining room, den/office or bedroom on the 1st floor, a large fenced in backyard. Floor plan is perfect for in-law/guest suite with bedroom and full bath on main level. The upstairs you will find 4 additional bedrooms including the spacious master suite, Master bedroom boasts his and her closets, sitting room, and a fireplace. Kitchen includes tiled backsplash, breakfast area/bar.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (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).
  • 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)
  • #1 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: The Colonies at Williamsburg Plantation

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: The Colonies at Williamsburg Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8171607

* 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
Tussahaw Elementary School Primary Regular 565 38 3
Locust Grove Middle School Middle Regular 980 52 4
Locust Grove High School High Regular 1,371 82 5

Tussahaw Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 38
3
GreatSchools Rating

Locust Grove Middle School

  • Education Level: Middle
  • # of students: 980
  • # of teachers: 52
4
GreatSchools Rating

Locust Grove High School

  • Education Level: High
  • # of students: 1,371
  • # of teachers: 82
5
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$851
Property Tax -$281
Property Insurance -$73
HOA -$42
Property Management Fees -$119
CASH FLOW
$354

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.

$245,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.7%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$37,052

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,693

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,720
$1,720
RENT COMPS ANALYSIS
  • 2135 Grant Avenue Locust Grove, GA 2
    • 5 beds 4 baths ∙ 2,384 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,384 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.72
    •  
  • 2133 Grant Avenue Mcdonough, GA 1
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2006
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.71
    •  
PROPERTY LISTING DETAILS
Donald Ferguson
1.678.524.6459
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6833189
Last Updated: 01/28/2021
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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