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309 Patillo Road Stockbridge, GA 30281

3 Beds 2 Baths 1,444 sqft Built 1986

$179,900

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $124.58
  • 3 Days on Market
  • MLS # : 6811470
  • Updated Date : 11/21/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,444 sqft
  • Baths : 2 full
Listing Agent's Description

Charming, Move In Ready 3/2 with 2 car garage is ready for your family. Spacious Fireside Great Room with new flooring & paint, Kitchen with Breakfast Bar & Lot's of cabinets & Pantry. Oversized Laundry Room with Storage Cabinets. Owner's bedroom with walk-in closet and bath. 2 spacious secondary bedrooms & full bath. You'll spend lots of time relaxing and entertaining on the great covered patio and playing around the fire pit. Lots of space for kids & pets in the large, completely privacy fenced corner lot! Plenty of parking space for guest.

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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Patillo Pointe

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Patillo Pointe

NeighborhoodNIR 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
Austin Road Elementary School Primary Regular 413 30 4
Austin Road Middle School Middle Regular 730 40 6
Woodland High School High Regular 1,531 83 6

Austin Road Elementary School

  • Education Level: Primary
  • # of students: 413
  • # of teachers: 30
4
GreatSchools Rating

Austin Road Middle School

  • Education Level: Middle
  • # of students: 730
  • # of teachers: 40
6
GreatSchools Rating

Woodland High School

  • Education Level: High
  • # of students: 1,531
  • # of teachers: 83
6
GreatSchools Rating
 

$161,910$197,890$179,900

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$664
Property Tax -$207
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$55

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.

$179,900

PROJECTED PRICE

$1,100

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.6%
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

PROJECTED ANNUAL CASH FLOW

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

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$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$10,235

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,112

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,1003$1,1754$1,199
$1,199
RENT COMPS ANALYSIS
  • 309 Patillo Road Stockbridge, GA 2
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.76
    •  
  • 145 Glenloch Parkway Stockbridge, GA 1
    • 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1990
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.66
    •  
  • 116 Susan Lane Stockbridge, GA 3
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1983
    LEASED 07/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.80
    •  
  • 107 Springview Drive Stockbridge, GA 4
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1986
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $0.85
    •  
PROPERTY LISTING DETAILS
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6811470
Last Updated: 11/21/2020
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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