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2986 Bunchberry Court Ellenwood, GA 30294

4 Beds 3 Baths 2,120 sqft Built 2006

$220,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $103.77
  • 5 Days on Market
  • MLS # : 6837912
  • Updated Date : 02/11/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,120 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautifully updated offering the space and freedom you deserve! The bright and spacious floorplan features all fresh interior paint and large windows throughout, providing natural light and a welcoming atmosphere to all who enter. Cook and entertain in the gorgeous galley-style kitchen, with a charming dining nook that has a bay window view of the backyard. On the upper floor, all four bedrooms are generous in size with vaulted ceilings and ceiling fans, so all members of the household can relax in comfort.

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

Zip Code: 30294

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30294

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
East Clayton Elementary School Primary Regular 615 37 5
Adamson Middle School Middle Regular 600 40 5
Morrow High School High Regular 1,830 83 3

East Clayton Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 37
5
GreatSchools Rating

Adamson Middle School

  • Education Level: Middle
  • # of students: 600
  • # of teachers: 40
5
GreatSchools Rating

Morrow High School

  • Education Level: High
  • # of students: 1,830
  • # of teachers: 83
3
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$764
Property Tax -$236
Property Insurance -$68
HOA -$18
Property Management Fees -$119
CASH FLOW
$255

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.

$220,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.2%
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$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% 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 $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

8.75

YEARS SAVED

$26,995

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,511

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4253$1,4604$1,6605$1,695
$1,695
RENT COMPS ANALYSIS
  • 2986 Bunchberry Court Ellenwood, GA 3
    • 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.69
    •  
  • 5780 Star Flower Drive Ellenwood, GA 1
    • 4 beds 3 baths ∙ 2,090 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,090 Sqft ∙ Built 2006
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.66
    •  
  • 2601 W Meyer Drive Morrow, GA 2
    • 5 beds 3 baths ∙ 1,924 Sqft ∙ Built 2005 5 beds 3 baths ∙ 1,924 Sqft ∙ Built 2005
    property image
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.74
    •  
  • 5605 Sapphire Circle Ellenwood, GA 4
    • 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 2003
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.74
    •  
  • 5526 Luther Court Ellenwood, GA 5
    • 4 beds 2 baths ∙ 2,396 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,396 Sqft ∙ Built 2015
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.71
    •  
PROPERTY LISTING DETAILS
Sharla Lowell
1.248.790.3635
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837912
Last Updated: 02/11/2021
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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