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3374 Homeward Trail Ellenwood, GA 30294

3 Beds 2 Baths 1,208 sqft Built 1999

$134,000

List Price

$1,140

$1K - $1.3K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1999
  • Price/Sqft : $110.93
  • 19 Days on Market
  • MLS # : 6804657
  • Updated Date : 11/05/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,208 sqft
  • Baths : 2 full
Listing Agent's Description

***TENANT OCCUPIED***ADORABLE RANCH HOME FEATURING 3 BEDROOMS, 2 FULL BATHROOMS, LIVING ROOM WITH FACTORY BUILT FIREPLACE, EAT IN/DINING KITCHEN, STAINED OAK LOOK KITCHEN CABINETS WITH WHITE COUNTERTOPS. ALL KITCHEN APPLIANCES. WALL TO WALL CARPET. THIS HOME IS IN A QUIET COMMUNITY OF NEIGHBORS AND IS CLOSE TO ALL THAT ELLENWOOD HAS TO OFFER.

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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: 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
Chapel Hill Elementary School Primary Regular 632 39 3
Salem Middle School Middle Regular 1,095 68 3
Martin Luther King, Junior High School High Regular 1,668 93 3

Chapel Hill Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 39
3
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
 

$120,600$147,400$134,000

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$494
Property Tax -$192
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$284

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.

$134,000

PROJECTED PRICE

$1,140

PROJECTED RENT

0.85%

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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$41,260

INVESTMENT

$41,260

Down Payment
$33,500
Rehab Estimate
$5,750
Closing Costs
$2,010

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$494

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $33,500
Loan Amount $100,500
See What Happens When You Reinvest Cash Flow

12.67

YEARS SAVED

$31,638

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,140

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $930

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,1403$1,275
$1,275
RENT COMPS ANALYSIS
  • 3374 Homeward Trail Ellenwood, GA 2
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $0.94
    •  
  • 3242 Deer Pause Lane Decatur, GA 1
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1990
    property image
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.71
    •  
  • 3645 Silver Springs Court Decatur, GA 3
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1994
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.83
    •  
PROPERTY LISTING DETAILS
Desiree B Tolbert
1.404.719.4788
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6804657
Last Updated: 11/05/2020
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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