Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3105 Horseshoe Springs Drive Ne Conyers, GA 30013

4 Beds 2 Baths 2,415 sqft Built 1997

INVESTimate

$279,000

List Price

$1,560

$1,404 - $1,716

Rent Est.

$303,245  ( +8.69%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1997
  • Price/Sqft : $115.53
  • 69 Days on Market
  • MLS # : 6730447
  • Updated Date : 08/25/2020 at 10:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,415 sqft
  • Baths : 2 full
Listing Agent's Description

Welcome home! This beautiful four sided brick ranch home is set on a generous 1.3 acre corner lot in a peaceful area of large residential lots and horse farms. The established Horseshoe Springs neighborhood is convenient to Covington, Oxford, Conyers and Atlanta via I-20. It is close to shopping, dining, the Georgia International Horse Park and Costley Mill Park. This home has a wonderful open floor plan with a sun room filled with natural light sure to be your favorite room in the house. This home is move in ready with new stainless appliances, carpet and paint.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30013

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30013

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
Fairview Elementary School Primary Regular 962 52 8
Fairview Elementary School Middle Regular 962 52 8
Newton High School High Regular 2,175 117 4

Fairview Elementary School

  • Education Level: Primary
  • # of students: 962
  • # of teachers: 52
8
GreatSchools Rating

Fairview Elementary School

  • Education Level: Middle
  • # of students: 962
  • # of teachers: 52
8
GreatSchools Rating

Newton High School

  • Education Level: High
  • # of students: 2,175
  • # of teachers: 117
4
GreatSchools Rating
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,029
Property Tax -$275
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
$63

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.

$279,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.69%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$14,967

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,618

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,538
1$1,5382$1,5603$1,595
$1,595
RENT COMPS ANALYSIS
  • 3105 Horseshoe Springs Drive Ne Conyers, 2
    • 4 beds 2 baths ∙ 2,415 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,415 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.65
    •  
  • 2508 Highland Drive Conyers, 1
    • 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 1978
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,538
    • $0.65
    •  
  • 45 Windcrest Terrace Covington, 3
    • 4 beds 3 baths ∙ 2,326 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,326 Sqft ∙ Built 2004
    property image
    LEASED 03/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.69
    •  
PROPERTY LISTING DETAILS
Jennifer Long
1.770.883.1900
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6730447
Last Updated: 08/25/2020
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.

BESbswy