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3815 Bill Gardner Parkway Locust Grove, GA 30248

3 Beds 3 Baths 1,979 sqft Built 1998

$245,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $123.80
  • 7 Days on Market
  • MLS # : 6809147
  • Updated Date : 12/15/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,979 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Lovely Estate in sought after location in Locust Grove. Traditional 1.5 Story Home Features New Upgrades Throughout! Three Bedrooms, 2.5 Baths on Main. Master features Large Walk-in closet, Bath w/ Soaking Tub & Separate Shower. Home offers a Large Bonus Room upstairs Perfect for Family Great room, Recreation or Office space - Options Are Endless! This home is conveniently located 2 miles from I-75, Strong Rock Christian School, Tanger Outlet Mall, Main Street Locust Grove, Dining and Only 30 min South of Atlanta Airport.

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)
  • 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)
  • #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)

PRICE & RENT TRENDS

Zip Code: 30248

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30248

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
Bethlehem Elementary School Primary Regular 538 39 4
Luella Middle School Middle Regular 792 47 5
Luella High School High Regular 1,389 82 5

Bethlehem Elementary School

  • Education Level: Primary
  • # of students: 538
  • # of teachers: 39
4
GreatSchools Rating

Luella Middle School

  • Education Level: Middle
  • # of students: 792
  • # of teachers: 47
5
GreatSchools Rating

Luella High School

  • Education Level: High
  • # of students: 1,389
  • # of teachers: 82
5
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$904
Property Tax -$281
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$260

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.

$245,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.0%
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$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$32,530

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,656

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,6303$1,7454$1,885
$1,885
RENT COMPS ANALYSIS
  • 3815 Bill Gardner Parkway Locust Grove, GA 2
    • 3 beds 3 baths ∙ 1,979 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,979 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.82
    •  
  • 905 Piedmont Drive Locust Grove, GA 1
    • 4 beds 2 baths ∙ 1,907 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,907 Sqft ∙ Built 2016
    property image
    LEASED 07/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.81
    •  
  • 137 Lantana Drive Locust Grove, GA 3
    • 3 beds 3 baths ∙ 2,263 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,263 Sqft ∙ Built 2003
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.77
    •  
  • 236 Gilliam Court Locust Grove, GA 4
    • 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 2003
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.93
    •  
PROPERTY LISTING DETAILS
Sells Strong Team
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6809147
Last Updated: 12/15/2020
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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