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2585 Highland Drive Se Conyers, GA 30013

4 Beds 3 Baths 2,893 sqft Built 1973

$219,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $76.01
  • 10 Days on Market
  • MLS # : 6847405
  • Updated Date : 03/05/2021 at 11:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,893 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

GREAT OPPORTUNITY IN CONYERS! LARGE, SPACIOUS 4 BEDROOM HOME READY FOR ITS NEW FAMILY. 2 CAR GARAGE, LARGE FAMILY ROOM, PLENTY OF CABINET SPACE WITH SPACIOUS LAUNDRY ROOM. FINISHED BASEMENT FOR MULTIPLE PURPOSE WITH LARGE STORAGE SPACE CONNECTED. HOME IS MOVE IN READY, JUST READY FOR YOUR PERSONAL TOUCH!

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

Neighborhood: Fieldstone

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Fieldstone

NeighborhoodNIR 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
Peek's Chapel Elementary School Primary Regular 636 39 5
Memorial Middle School Middle Regular 950 62 4
Salem High School High Regular 1,370 69 4

Peek's Chapel Elementary School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 39
5
GreatSchools Rating

Memorial Middle School

  • Education Level: Middle
  • # of students: 950
  • # of teachers: 62
4
GreatSchools Rating

Salem High School

  • Education Level: High
  • # of students: 1,370
  • # of teachers: 69
4
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$764
Property Tax -$251
Property Insurance -$83
Property Management Fees -$119
CASH FLOW
$443

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.

$219,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.8%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

12.67

YEARS SAVED

$44,848

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $1,823

    COMP ESTIMATED VALUE
  • $0.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,895
$1,895
RENT COMPS ANALYSIS
  • 2585 Highland Drive Se Conyers, GA 1
    • 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.57
    •  
  • 1715 Foxwood Glen Se Conyers, GA 2
    • 4 beds 3 baths ∙ 3,022 Sqft ∙ Built 1991 4 beds 3 baths ∙ 3,022 Sqft ∙ Built 1991
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.63
    •  
PROPERTY LISTING DETAILS
Steve Poe
1.770.533.1771
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6847405
Last Updated: 03/05/2021
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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