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3179 Hammock Creek Court Conyers, GA 30012

3 Beds 2 Baths 1,920 sqft Built 1983

$179,900

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $93.70
  • 7 Days on Market
  • MLS # : 6822610
  • Updated Date : 01/01/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,920 sqft
  • Baths : 2 full
Listing Agent's Description

Seller Relocating! Are you looking for privacy and serenity? If so, look no further! This home located in a beautiful, well established neighborhood is exactly what you need! The open concept floor plan offers endless possibilities. With a roomy 2 car garage, workshop area, storage or game room, you will have plenty of room for projects and fun! Make family memories while exploring your very own 2.6 acres which features a beautifully flowing creek along the rear property line.

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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)
  • 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Hammock Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $82k230k

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

Neighborhood: Hammock Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8171579

* 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
J.h. House Elementary School Primary Regular 675 50 5
Conyers Middle School Middle Regular 859 58 4
Rockdale County High School High Regular 1,998 111 5

J.h. House Elementary School

  • Education Level: Primary
  • # of students: 675
  • # of teachers: 50
5
GreatSchools Rating

Conyers Middle School

  • Education Level: Middle
  • # of students: 859
  • # of teachers: 58
4
GreatSchools Rating

Rockdale County High School

  • Education Level: High
  • # of students: 1,998
  • # of teachers: 111
5
GreatSchools Rating
 

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

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$664
Property Tax -$205
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$298

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

$1,350

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.6%
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$700k

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

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 25% 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

11.25

YEARS SAVED

$36,125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,414

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,3504$1,495
$1,495
RENT COMPS ANALYSIS
  • 3179 Hammock Creek Court Conyers, GA 3
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.70
    •  
  • 940 Nw Ray Drive Conyers, GA 1
    • 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 1974
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.70
    •  
  • 8483 Hightower Trail Snellville, GA 2
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1990
    property image
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.75
    •  
  • 1262 Corley Road Nw Conyers, GA 4
    • 4 beds 2 baths ∙ 1,979 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,979 Sqft ∙ Built 2001
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.76
    •  
PROPERTY LISTING DETAILS
Julie Chupp
1.678.873.2107
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6822610
Last Updated: 01/01/2021
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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