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2541 S Ola Road S Locust Grove, GA 30248

3 Beds 2 Baths 1,366 sqft Built 1998

$188,900

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $138.29
  • 6 Days on Market
  • MLS # : 6810003
  • Updated Date : 11/18/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,366 sqft
  • Baths : 2 full
Listing Agent's Description

Finally! An affordable home. This ranch home has 3 spacious bedrooms with large closets, 2 full baths, great room with fireplace leads to nice country kitchen with breakfast area and dining room. Vaulted ceilings on great room, great sized laundry and pantry area, two car garage. Spacious and level yard with 1.0 Acre, additional parking on driveway.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30248

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30248

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
Unity Grove Elementary School Primary Regular 816 52 4
Locust Grove Middle School Middle Regular 980 52 4
Locust Grove High School High Regular 1,371 82 5

Unity Grove Elementary School

  • Education Level: Primary
  • # of students: 816
  • # of teachers: 52
4
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
 

$170,010$207,790$188,900

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$697
Property Tax -$217
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$163

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.

$188,900

PROJECTED PRICE

$1,250

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,809

INVESTMENT

$55,809

Down Payment
$47,225
Rehab Estimate
$5,750
Closing Costs
$2,834

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,225
Loan Amount $141,675
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$20,309

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,079

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,299
$1,299
RENT COMPS ANALYSIS
  • 2541 S Ola Road S Locust Grove, GA 1
    • 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.92
    •  
  • 102 Old Stonewall Drive Locust Grove, GA 2
    • 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 1998
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.79
    •  
PROPERTY LISTING DETAILS
Jaime Garces
1.678.508.7541
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6810003
Last Updated: 11/18/2020
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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