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2278 Ridge Trails Court Lithonia, GA 30058

3 Beds 2 Baths 1,468 sqft Built 1988

$165,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $112.40
  • 6 Days on Market
  • MLS # : 6822424
  • Updated Date : 12/30/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,468 sqft
  • Baths : 2 full
Listing Agent's Description

Nice Cul-de-sac Home close to schools, shopping and major roadways. Freshly painted. New carpet. Stainless appliances. Vaulted ceilings in living space and master suite. 1-car garage. Move right in!

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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)
  • 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 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
Lithonia Middle School Middle Regular 1,158 71 2
Lithonia High School High Regular 1,315 77 3

Panola Way Elementary School

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

Lithonia Middle School

  • Education Level: Middle
  • # of students: 1,158
  • # of teachers: 71
2
GreatSchools Rating

Lithonia High School

  • Education Level: High
  • # of students: 1,315
  • # of teachers: 77
3
GreatSchools Rating
 

$148,500$181,500$165,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$609
Property Tax -$239
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$308

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.

$165,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.81%

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$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$609

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$35,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,178

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,210
1$1,2102$1,2993$1,3304$1,4255$1,468
$1,468
RENT COMPS ANALYSIS
  • 2278 Ridge Trails Court Lithonia, GA 3
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.91
    •  
  • 2063 Wellborn Close Lithonia, GA 1
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1984
    property image
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.80
    •  
  • 2421 Rambling Way Lithonia, GA 2
    • 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2000
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.77
    •  
  • 2416 Rambling Way Lithonia, GA 4
    • 3 beds 3 baths ∙ 1,746 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,746 Sqft ∙ Built 2000
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.82
    •  
  • 6166 Charring Cross Court Lithonia, GA 5
    • 4 beds 3 baths ∙ 1,784 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,784 Sqft ∙ Built 1986
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,468
    • $0.82
    •  
PROPERTY LISTING DETAILS
James E Ashenfelter
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6822424
Last Updated: 12/30/2020
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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