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3474 Underwood Road Se 
Conyers, GA
30013
5 Beds 3 Baths 2,860 sqft
Built 1983
INVESTimate
$249,999
List Price
$72,000
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PROPERTY INFO
FACTS
- Built In 1983
- Price/Sqft : $87.41
- 23 Days on Market
- MLS # : 6761426
- Updated Date : 08/24/2020 at 12:09
CONSTRUCTION
- Beds : 5
- Floor Size : 2,860 sqft
- Baths : 3 full
Listing Agent's Description
* Amazing rare opportunity in Rockdale. *All brick 5 bedroom 3 bathroom ranch beauty. *Double lot. *Home is on private lake. * Boat dock. *Double entry half moon driveway. * So much amazing potential. * Rich character throughout the home. *Features: * Brick and stone accents in foyer. *Nice engineered floors and throughout the main level. *Exposed beamed ceilings throughout home.
SEE MORE
- #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
Neighborhood: Salem Lake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Salem Lake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,660 |
| EXPENSES | Loan Payment | -$922 |
| Property Tax | -$285 | |
| Property Insurance | -$82 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$251
|
||
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.
$249,999
PROJECTED PRICE
$1,660
PROJECTED RENT
0.66%
PROJECTED RENT / PRICE RATIO
| 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
INVESTMENT
$72,000
LOAN DETAILS
$922
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $62,500 |
| Loan Amount | $187,499 |
8.25
YEARS SAVED
$31,169
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,660
LIST RENT -
$0.58
LIST RENT PER SQFT
-
$1,726
COMP ESTIMATED VALUE -
$0.6
COMP AVG. RENT PER SQFT
Comps Range
-
3474 Underwood Road Se Conyers, 4
- 5 beds 3 baths ∙ 2,860 Sqft ∙ Built 1983 5 beds 3 baths ∙ 2,860 Sqft ∙ Built 1983
- Rent
- Rent Per SQFT
- $1,660
- $0.58
-
505 Creekview Boulevard Covington, 1
- 4 beds 3 baths ∙ 2,558 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,558 Sqft ∙ Built 2003
LEASED 07/26/19- Rent
- Rent Per SQFT
- $1,595
- $0.62
-
395 Creekview Boulevard Covington, 2
- 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 2003
LEASED 03/24/20- Rent
- Rent Per SQFT
- $1,595
- $0.58
-
55 Templeton Way Covington, 3
- 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 2003
LEASED 04/15/20- Rent
- Rent Per SQFT
- $1,595
- $0.61
PROPERTY LISTING DETAILS
1.770.286.4551
1.866.250.5610
RentVest Georgia LLC
H-75957
MLS #: 6761426
Last Updated: 08/24/2020
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.
