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3891 Cedar Trace Lane Ellenwood, GA 30294

4 Beds 4 Baths 2,702 sqft Built 2000

$239,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $88.79
  • 5 Days on Market
  • MLS # : 6854971
  • Updated Date : 03/19/2021 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,702 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

This beautiful home located minutes from the interstate features a finished basement, formal dining room, sitting/ bonus room and a large great room with fireplace that opens to eat-in kitchen. Upstairs you will find 3 oversized bedrooms. Master bath features a relaxing garden tub, separate shower and a spacious walk-in closet. Exterior features a beautifully large land well maintained front yard and private backyard with 2 car garage with large driveway that will hold an additional 4 cars. It also features very low maintenance vinyl siding.

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

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
Oak View Elementary School Primary Regular 811 49 2
Cedar Grove Middle School Middle Regular 864 51 3
Cedar Grove High School High Regular 1,014 59 4

Oak View Elementary School

  • Education Level: Primary
  • # of students: 811
  • # of teachers: 49
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
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$833
Property Tax -$343
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
$265

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.

$239,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.68%

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$200k$400k$600k$800k$1.0M

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$26,302

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,763

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6403$1,6504$1,6955$1,890
$1,890
RENT COMPS ANALYSIS
  • 3891 Cedar Trace Lane Ellenwood, GA 2
    • 4 beds 4 baths ∙ 2,702 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,702 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.61
    •  
  • 2495 Riverwood Spring Ellenwood, GA 1
    • 4 beds 3 baths ∙ 2,373 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,373 Sqft ∙ Built 1992
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.63
    •  
  • 3431 Rockmill Drive Ellenwood, GA 3
    • 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 1999
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.62
    •  
  • 3822 Conley Downs Lane Decatur, GA 4
    • 5 beds 2 baths ∙ 2,552 Sqft ∙ Built 1989 5 beds 2 baths ∙ 2,552 Sqft ∙ Built 1989
    property image
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.66
    •  
  • 3409 River Mill Lane Ellenwood, GA 5
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 1993
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.70
    •  
PROPERTY LISTING DETAILS
Brandi Wimberly
1.678.615.4192
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6854971
Last Updated: 03/19/2021
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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