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3715 Micah Court Ellenwood, GA 30294

4 Beds 3 Baths 2,056 sqft Built 1999

$195,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $94.84
  • 3 Days on Market
  • MLS # : 6805843
  • Updated Date : 11/07/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,056 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Large 4 bedroom, 2.5 bath house in established neighborhood. There is a separate formal living and dining room and the bright kitchen looks into the family room. Upstairs boasts 4 spacious bedrooms and two bathrooms. Master bathroom has a garden tub and double vanity. Nice sized backyard for entertaining and play! Professional pictures coming!

SEE MORE

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
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
 

$175,500$214,500$195,000

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 -$719
Property Tax -$279
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$176

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.

$195,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.70%

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

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$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$20,076

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
  • $0.66

    LIST RENT PER SQFT
  • $1,465

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3253$1,3604$1,4505$1,470
$1,470
RENT COMPS ANALYSIS
  • 3715 Micah Court Ellenwood, GA 3
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.66
    •  
  • 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
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.72
    •  
  • 3122 Orbit Circle Ellenwood, GA 2
    • 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 1981
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.70
    •  
  • 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
    property image
    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
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.67
    •  
PROPERTY LISTING DETAILS
Katie Reid
1.404.933.1460
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805843
Last Updated: 11/07/2020
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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