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3078 Highland Park Lane Lithonia, GA 30038

3 Beds 3 Baths 1,738 sqft Built 1997

$180,000

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $103.57
  • 5 Days on Market
  • MLS # : 6812789
  • Updated Date : 11/26/2020 at 14:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,738 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

What is better than convenience and location? This cute and cozy two story home provides both convenient access to schools, shopping, and restaurants while being minutes away from a major interstate. This charming home is close enough to the hustle and bustle but far enough away to escape the city life and experience the suburbs. New renovations with an open floor plan and modern touches make great additions for entertaining and hosting. A quaint backyard allows for the good times to continue outside.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Fairington Elementary School Primary Regular 712 39 2
Salem Middle School Middle Regular 1,095 68 3
Martin Luther King, Junior High School High Regular 1,668 93 3

Fairington Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 39
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
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$664
Property Tax -$261
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$96

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.

$180,000

PROJECTED PRICE

$1,200

PROJECTED RENT

0.67%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$12,313

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,251

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2003$1,2954$1,3575$1,400
$1,400
RENT COMPS ANALYSIS
  • 3078 Highland Park Lane Lithonia, GA 2
    • 3 beds 3 baths ∙ 1,738 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,738 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.69
    •  
  • 5338 Timor Trail Lithonia, GA 1
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1979
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.73
    •  
  • 5165 Oaktree Trail Lithonia, GA 3
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1989
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.74
    •  
  • 3186 Pearce Court Lithonia, GA 4
    • 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 1988
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,357
    • $0.71
    •  
  • 2343 Cove Lake Way Lithonia, GA 5
    • 3 beds 2 baths ∙ 2,006 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,006 Sqft ∙ Built 1999
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.70
    •  
PROPERTY LISTING DETAILS
Brittney Simmons
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6812789
Last Updated: 11/26/2020
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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