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2600 King George Court Ne Conyers, GA 30012

3 Beds 2 Baths 1,444 sqft Built 1984

$150,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $103.88
  • 5 Days on Market
  • MLS # : 6817139
  • Updated Date : 12/10/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,444 sqft
  • Baths : 2 full
Listing Agent's Description

3 BR/2 BA home in convenient North Rockdale community. Needs some TLC. 4-sides brick with wood accents. Wood, vinyl and tile floors. Large laundry room off of the kitchen. Wood-burning stove in family room. Large bedrooms with big closets. Master with ensuite. Huge basement needs finishing touches. Large lot with beautiful nature views. Price reflects needed repairs.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Kings Mountain

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $74k209k

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

Neighborhood: Kings Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7721509

* 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
Hightower Trail Elementary School Primary Regular 689 46 5
Conyers Middle School Middle Regular 859 58 4
Rockdale County High School High Regular 1,998 111 5

Hightower Trail Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 46
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
 

$135,000$165,000$150,000

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 -$553
Property Tax -$171
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$431

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.

$150,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.89%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,500

INVESTMENT

$45,500

Down Payment
$37,500
Rehab Estimate
$5,750
Closing Costs
$2,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,500
Loan Amount $112,500
See What Happens When You Reinvest Cash Flow

15.33

YEARS SAVED

$44,657

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
  • $0.92

    LIST RENT PER SQFT
  • $1,343

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,185
1$1,1852$1,3303$1,3954$1,450
$1,450
RENT COMPS ANALYSIS
  • 2600 King George Court Ne Conyers, GA 2
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.92
    •  
  • 1403 Chelsea Downs Lane Conyers, GA 1
    • 3 beds 3 baths ∙ 1,205 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,205 Sqft ∙ Built 1988
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,185
    • $0.98
    •  
  • 1407 Chelsea Downs Lane Ne Conyers, GA 3
    • 4 beds 2 baths ∙ 1,672 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,672 Sqft ∙ Built 1988
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.83
    •  
  • 1641 Riverchase Circle Conyers, GA 4
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1993
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.98
    •  
PROPERTY LISTING DETAILS
Dwayne Walker
1.770.855.5729
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6817139
Last Updated: 12/10/2020
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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