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2570 Bonds Lake Road Nw Conyers, GA 30012

3 Beds 2 Baths 1,652 sqft Built 1975

$189,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $114.95
  • 7 Days on Market
  • MLS # : 6832282
  • Updated Date : 01/26/2021 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,652 sqft
  • Baths : 2 full
Listing Agent's Description

MUST SELL! Owner is retiring. This home sits in a peaceful, beautiful area located very close to a small local lake. Not far from Walmart and tons of grocery stores nearby. Ranch Style with unfinished basement with master on MAIN Level. Rooms are good size and the home is MOVE IN READY. Best Home in the areas for the price and the condition. Lot is very large, almost approx on 2 acres of land perfect for bringing your recreational vehicles. NO HOA Rule. Great curb appeal, nicely secluded and private brick front Home.

SEE MORE

MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Zip Code: 30012

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $72k209k

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

Zip Code: 30012

ZipNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7421509

* 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
J.h. House Elementary School Primary Regular 675 50 5
Conyers Middle School Middle Regular 859 58 4
Rockdale County High School High Regular 1,998 111 5

J.h. House Elementary School

  • Education Level: Primary
  • # of students: 675
  • # of teachers: 50
5
GreatSchools Rating

Conyers Middle School

  • Education Level: Middle
  • # of students: 859
  • # of teachers: 58
4
GreatSchools Rating

Rockdale County High School

  • Education Level: High
  • # of students: 1,998
  • # of teachers: 111
5
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$660
Property Tax -$217
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$346

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.

$189,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.6%
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$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

11.83

YEARS SAVED

$35,780

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,426

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3003$1,3504$1,400
$1,400
RENT COMPS ANALYSIS
  • 2570 Bonds Lake Road Nw Conyers, GA 4
    • 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 1106 Nw Mountain View Road Conyers, GA 1
    • 4 beds 2 baths ∙ 1,320 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,320 Sqft ∙ Built 1965
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.91
    •  
  • 940 Nw Ray Drive Conyers, GA 2
    • 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 1974
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.70
    •  
  • 2450 Irwin Bridge Road Conyers, GA 3
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1992
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.98
    •  
PROPERTY LISTING DETAILS
Mayra Senquiz
1.678.772.8585
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6832282
Last Updated: 01/26/2021
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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