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2690 Westminister Lane Nw Conyers, GA 30012

3 Beds 2 Baths 1,643 sqft Built 1976

$209,900

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $127.75
  • 4 Days on Market
  • MLS # : 6845895
  • Updated Date : 02/26/2021 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,643 sqft
  • Baths : 2 full
Listing Agent's Description

Ranch Style Home Nestled in a Beautiful & Quiet Neighborhood Near a Lake! This Home Features Tons of Natural Light with an Open Concept Living Room & Eat-In Kitchen with Tall Beamed Ceilings, Plenty of Room to Entertain, Large Master Bedroom with Attached Bathroom, Two Large Secondary Bedrooms with Hall Bathroom, Gorgeous Sunroom, and a Fenced Backyard! Other Features Include 2 year Old LVP Flooring Throughout, 2 Year Old Roof, and Brand New HVAC!

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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Paces Landing

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Paces Landing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8131509

* 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
Edwards Middle School Middle Regular 885 59 5
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

Edwards Middle School

  • Education Level: Middle
  • # of students: 885
  • # of teachers: 59
5
GreatSchools Rating

Rockdale County High School

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

$188,910$230,890$209,900

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$729
Property Tax -$239
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$124

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.

$209,900

PROJECTED PRICE

$1,270

PROJECTED RENT

0.61%

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

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$61,374

INVESTMENT

$61,374

Down Payment
$52,475
Rehab Estimate
$5,750
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,475
Loan Amount $157,425
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$14,248

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,446

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3003$1,3504$1,450
$1,450
RENT COMPS ANALYSIS
  • 2690 Westminister Lane Nw Conyers, GA 1
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.77
    •  
  • 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
    •  
  • 2267 Margaret Court Lithonia, GA 4
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1989
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.96
    •  
PROPERTY LISTING DETAILS
Robert Smith
1.404.334.3263
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6845895
Last Updated: 02/26/2021
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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