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3504 Cherry Creek Court Se Conyers, GA 30013

3 Beds 3 Baths 2,230 sqft Built 1990

$243,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $109.37
  • 2 Days on Market
  • MLS # : 6850185
  • Updated Date : 03/06/2021 at 16:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,230 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Photos coming soon. Conveniently situated near local stores and restaurants, you will absolutely love the location of this 3 bedroom and 2.5 bathroom home in Conyers. Gorgeous hardwood flooring greets you upon entering the home. Make your way through the hall towards the kitchen where there is plenty of cabinet storage and a beautiful dining area adjacent to the room. The living room features a brick fireplace and easy access to the back patio. The main floor primary bedroom has bright windows and an attached bathroom that is complete with a jetted tub!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cherry Creek

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Cherry Creek

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
Honey Creek Elementary School Primary Regular 596 38 5
Memorial Middle School Middle Regular 950 62 4
Salem High School High Regular 1,370 69 4

Honey Creek Elementary School

  • Education Level: Primary
  • # of students: 596
  • # of teachers: 38
5
GreatSchools Rating

Memorial Middle School

  • Education Level: Middle
  • # of students: 950
  • # of teachers: 62
4
GreatSchools Rating

Salem High School

  • Education Level: High
  • # of students: 1,370
  • # of teachers: 69
4
GreatSchools Rating
 

$219,510$268,290$243,900

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$847
Property Tax -$278
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$155

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.

$243,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.7%
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$200k$400k$600k$800k

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$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,384

INVESTMENT

$70,384

Down Payment
$60,975
Rehab Estimate
$5,750
Closing Costs
$3,659

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$847

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,975
Loan Amount $182,925
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$17,425

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,516

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4703$1,4904$1,535
$1,535
RENT COMPS ANALYSIS
  • 3504 Cherry Creek Court Se Conyers, GA 2
    • 3 beds 3 baths ∙ 2,230 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,230 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.66
    •  
  • 1038 Duke Drive Conyers, GA 1
    • 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 1972 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 1972
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.64
    •  
  • 165 Jericho Drive Covington, GA 3
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 2001
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.71
    •  
  • 2950 Camary Place Drive Conyers, GA 4
    • 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1991
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.69
    •  
PROPERTY LISTING DETAILS
Katrina Washington
1.470.552.7712
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6850185
Last Updated: 03/06/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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