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3558 Orbit Court Ellenwood, GA 30294

3 Beds 3 Baths 2,142 sqft Built 1983

$177,500

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $82.87
  • 3 Days on Market
  • MLS # : 6846710
  • Updated Date : 02/26/2021 at 20:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,142 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome to this home in the highly sought after town of Ellenwood. This cozy family home creates some privacy with the steps on the front door and the large backyard. This home sits in a cul de sac in the back of the neighborhood. It features an elegant living room and dining room with updated flooring and carpeting. It opens up to a kitchen with new appliances. The home features a new back deck as well. With this clean-cut neighborhood, you are sure to feel right at home. You can look forward to making the sweetest memories right here at 3558 Orbit Ct.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Cedar Grove Elementary School Primary Regular 590 38 2
Cedar Grove Middle School Middle Regular 864 51 3
Cedar Grove High School High Regular 1,014 59 4

Cedar Grove Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 38
2
GreatSchools Rating

Cedar Grove Middle School

  • Education Level: Middle
  • # of students: 864
  • # of teachers: 51
3
GreatSchools Rating

Cedar Grove High School

  • Education Level: High
  • # of students: 1,014
  • # of teachers: 59
4
GreatSchools Rating
 

$159,750$195,250$177,500

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$617
Property Tax -$254
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$302

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.

$177,500

PROJECTED PRICE

$1,360

PROJECTED RENT

0.77%

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$700k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,788

INVESTMENT

$52,788

Down Payment
$44,375
Rehab Estimate
$5,750
Closing Costs
$2,663

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$617

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,375
Loan Amount $133,125
See What Happens When You Reinvest Cash Flow

11.08

YEARS SAVED

$30,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,548

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,3604$1,4505$1,470
$1,470
RENT COMPS ANALYSIS
  • 3558 Orbit Court Ellenwood, GA 3
    • 3 beds 3 baths ∙ 2,142 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,142 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.63
    •  
  • 3736 River Lake Shore Ellenwood, GA 1
    • 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 1991
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.72
    •  
  • 2529 Rockknoll Drive Conley, GA 2
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 1970
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.74
    •  
  • 2263 Rolling Rock Drive Conley, GA 4
    • 4 beds 3 baths ∙ 1,917 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,917 Sqft ∙ Built 1983
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
  • 3810 Rolling Place Conley, GA 5
    • 4 beds 3 baths ∙ 2,191 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,191 Sqft ∙ Built 1990
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.67
    •  
PROPERTY LISTING DETAILS
Mark Spain
1.770.886.9000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6846710
Last Updated: 02/26/2021
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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