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2462 Briar Knoll Road Lithonia, GA 30058

3 Beds 3 Baths 2,036 sqft Built 1996

$215,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $105.60
  • 3 Days on Market
  • MLS # : 6849846
  • Updated Date : 03/06/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,036 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

WELCOME HOME to this Lovely home in Covington Place! Open the Front Door to a Stunning 2 Story Foyer with All Updated Laminate Flooring and TONS of Natural lighting throughout! Entertain Friends & Family in the Formal Dining Room, Spacious Great Room with Floor-to-Ceiling Mirrors or Open Concept Kitchen overlooking the Family Room with Gorgeous Fireplace.

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: 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
Miller Grove Middle School Middle Regular 977 61 3
Miller Grove High School High Regular 1,551 83 4

Panola Way Elementary School

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

Miller Grove Middle School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 61
3
GreatSchools Rating

Miller Grove High School

  • Education Level: High
  • # of students: 1,551
  • # of teachers: 83
4
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$747
Property Tax -$311
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$196

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.

$215,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.67%

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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$19,190

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,568

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4403$1,4954$1,5005$1,650
$1,650
RENT COMPS ANALYSIS
  • 2462 Briar Knoll Road Lithonia, GA 2
    • 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.71
    •  
  • 2343 Cove Lake Way Lithonia, GA 1
    • 3 beds 2 baths ∙ 2,006 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,006 Sqft ∙ Built 1999
    property image
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.70
    •  
  • 5403 Wellborn Creek Drive Lithonia, GA 3
    • 3 beds 3 baths ∙ 1,932 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,932 Sqft ∙ Built 1999
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.77
    •  
  • 1940 Patton Place Lithonia, GA 4
    • 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 1984
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
  • 1984 Taffeta Trail Lithonia, GA 5
    • 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 1980
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
PROPERTY LISTING DETAILS
Taylor Tindal
1.770.799.6535
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6849846
Last Updated: 03/06/2021
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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