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215 Lanella Parkway Conyers, GA 30013

3 Beds 4 Baths 2,901 sqft Built 2001

$275,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $94.79
  • 2 Days on Market
  • MLS # : 6853057
  • Updated Date : 03/13/2021 at 19:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,901 sqft
  • Baths : 2 full , 2 half
Listing Agent's Description

This home could truly be a 5 bedroom!!! Nearly new roof, HVAC unit, hardwood floors and exterior paint. Very nice size master bedroom and bath. Huge Bonus Room and Fully Finished Basement all in the middle of a cul-de-sac on over an acre.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30013

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30013

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
Oak Hill Elementary School Primary Regular 716 50 6
Veterans Memorial Middle School Middle Regular 708 44 4
Alcovy High School High Regular 2,029 98 4

Oak Hill Elementary School

  • Education Level: Primary
  • # of students: 716
  • # of teachers: 50
6
GreatSchools Rating

Veterans Memorial Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 44
4
GreatSchools Rating

Alcovy High School

  • Education Level: High
  • # of students: 2,029
  • # of teachers: 98
4
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$955
Property Tax -$271
Property Insurance -$83
Property Management Fees -$119
CASH FLOW
$142

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.

$275,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.57%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$17,738

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.54

    LIST RENT PER SQFT
  • $1,982

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,5953$1,8654$1,920
$1,920
RENT COMPS ANALYSIS
  • 215 Lanella Parkway Conyers, GA 1
    • 3 beds 4 baths ∙ 2,901 Sqft ∙ Built 2001 3 beds 4 baths ∙ 2,901 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.54
    •  
  • 55 Templeton Way Covington, GA 2
    • 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 2003
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.61
    •  
  • 160 Dairyland Drive Covington, GA 3
    • 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 2004
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,865
    • $0.71
    •  
  • 15 Franklin Way Covington, GA 4
    • 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2006
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.73
    •  
PROPERTY LISTING DETAILS
Jenea E Kennedy
1.404.304.8964
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6853057
Last Updated: 03/13/2021
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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