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2913 Winding Grove Drive Lithonia, GA 30038

3 Beds 3 Baths 1,804 sqft Built 1998

$209,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $115.85
  • 2 Days on Market
  • MLS # : 6826147
  • Updated Date : 01/09/2021 at 21:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,804 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This two story move-in ready home is located in a quiet family-friendly neighborhood. The beautiful home has 3 bedrooms, 2.5 bathrooms with an amazing loft area. Spacious two car garage. Only 0.3 miles from I-20.This home is sure to go fast!

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MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Zip Code: 30038

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30038

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
Browns Mill Elementary School Primary Regular 712 40 2
Salem Middle School Middle Regular 1,095 68 3
Martin Luther King, Junior High School High Regular 1,668 93 3

Browns Mill Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 40
2
GreatSchools Rating

Salem Middle School

  • Education Level: Middle
  • # of students: 1,095
  • # of teachers: 68
3
GreatSchools Rating

Martin Luther King, Junior High School

  • Education Level: High
  • # of students: 1,668
  • # of teachers: 93
3
GreatSchools Rating
 

$188,100$229,900$209,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$726
Property Tax -$303
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$240

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.

$209,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.9%
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$800k

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$61,135

INVESTMENT

$61,135

Down Payment
$52,250
Rehab Estimate
$5,750
Closing Costs
$3,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$726

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,250
Loan Amount $156,750
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$23,798

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,299

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3573$1,4504$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 2913 Winding Grove Drive Lithonia, GA 4
    • 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.80
    •  
  • 5165 Oaktree Trail Lithonia, GA 1
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1989
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.74
    •  
  • 3186 Pearce Court Lithonia, GA 2
    • 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 1988
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,357
    • $0.71
    •  
  • 2555 Willenhall Way Lithonia, GA 3
    • 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1997
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.71
    •  
  • 3674 Walnut Creek Way Lithonia, GA 5
    • 3 beds 3 baths ∙ 2,082 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,082 Sqft ∙ Built 2002
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.72
    •  
PROPERTY LISTING DETAILS
Will Puente
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6826147
Last Updated: 01/09/2021
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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