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2178 Willow Court Grayson, GA 30017

3 Beds 2 Baths 1,633 sqft Built 1974

$230,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $140.85
  • 6 Days on Market
  • MLS # : 6813217
  • Updated Date : 11/28/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,633 sqft
  • Baths : 2 full
Listing Agent's Description

Great ranch home on basement. 3bed/2bath, Cul-de-sac lot , private back yard. Home in process of getting fresh paint interior and exterior, new carpet, new flooring. Fresh landscaping. Located in Grayson High School Cluster. Conveniently located to shopping and dining. This one will Go Fast!!!

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

Zip Code: 30017

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30017

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Grayson Elementary School Primary Regular 831 59 9
Bay Creek Middle School Middle Regular 1,079 56 7
Grayson High School High Regular 2,767 155 7

Grayson Elementary School

  • Education Level: Primary
  • # of students: 831
  • # of teachers: 59
9
GreatSchools Rating

Bay Creek Middle School

  • Education Level: Middle
  • # of students: 1,079
  • # of teachers: 56
7
GreatSchools Rating

Grayson High School

  • Education Level: High
  • # of students: 2,767
  • # of teachers: 155
7
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$849
Property Tax -$240
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$124

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$230,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
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$800k

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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$25,743

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,417

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3903$1,4004$1,4755$1,565
$1,565
RENT COMPS ANALYSIS
  • 2178 Willow Court Grayson, GA 2
    • 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.85
    •  
  • 1670 S Crestview Drive Snellville, GA 1
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1961
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.85
    •  
  • 1280 Summit Point Lane Snellville, GA 3
    • 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1991 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1991
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 3129 Fairview Drive Snellville, GA 4
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1986
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.88
    •  
  • 2041 Hutton Drive Grayson, GA 5
    • 4 beds 3 baths ∙ 1,808 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,808 Sqft ∙ Built 1986
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.87
    •  
PROPERTY LISTING DETAILS
Tracy Johnson
1.770.652.3447
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6813217
Last Updated: 11/28/2020
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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