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2818 Rambling Way Lithonia, GA 30058

3 Beds 2 Baths 1,560 sqft Built 2001

$175,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $112.18
  • 4 Days on Market
  • MLS # : 6823139
  • Updated Date : 01/01/2021 at 15:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,560 sqft
  • Baths : 2 full
Listing Agent's Description

Welcome Home to Spacious Living! This Lovely Light-Filled Home has been Meticulously Maintained by the Original Owner and Updated with Custom Tile and Wood Floors, New Paint, and Newer Carpet. The Grand 2-story Foyer Welcomes you into a Huge Great Room with Vaulted Ceilings; Spacious Kitchen with Pantry; Dining Area; Large Master Suite with Double Tray Ceiling, Oversized Walk-In Closet and Ensuite with Vanity, Soaking Tub, Separate Shower and Vaulted Ceilings. From the Dining Area, Walk Out to the Spacious Deck that Overlooks the Large Private Backyard.

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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)
  • 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Zip Code: 30058

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30058

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
Stoneview Elementary School Primary Regular 846 48 2
Lithonia Middle School Middle Regular 1,158 71 2
Lithonia High School High Regular 1,315 77 3

Stoneview Elementary School

  • Education Level: Primary
  • # of students: 846
  • # of teachers: 48
2
GreatSchools Rating

Lithonia Middle School

  • Education Level: Middle
  • # of students: 1,158
  • # of teachers: 71
2
GreatSchools Rating

Lithonia High School

  • Education Level: High
  • # of students: 1,315
  • # of teachers: 77
3
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$646
Property Tax -$253
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$295

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.

$175,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.9%
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

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$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

11

YEARS SAVED

$34,390

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,252

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,210
1$1,2102$1,2993$1,3704$1,4255$1,468
$1,468
RENT COMPS ANALYSIS
  • 2818 Rambling Way Lithonia, GA 3
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.88
    •  
  • 2063 Wellborn Close Lithonia, GA 1
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1984
    property image
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.80
    •  
  • 2421 Rambling Way Lithonia, GA 2
    • 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2000
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.77
    •  
  • 2416 Rambling Way Lithonia, GA 4
    • 3 beds 3 baths ∙ 1,746 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,746 Sqft ∙ Built 2000
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.82
    •  
  • 6166 Charring Cross Court Lithonia, GA 5
    • 4 beds 3 baths ∙ 1,784 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,784 Sqft ∙ Built 1986
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,468
    • $0.82
    •  
PROPERTY LISTING DETAILS
Tommie Storer
1.678.517.5575
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6823139
Last Updated: 01/01/2021
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. © 2017 First Multiple Listing Service, Inc.

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