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3901 Micah Lane Ellenwood, GA 30294

4 Beds 3 Baths 2,168 sqft Built 2005

$237,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $109.73
  • 10 Days on Market
  • MLS # : 6829410
  • Updated Date : 01/19/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,168 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Step inside this charming 4 bedroom, 2.5 bathroom home in the quiet Broad River Pointe neighborhood of Ellenwood. Once inside, you will immediately find a crisp, white stairway that nicely complements the wood flooring that greets you upon entry. You're sure to appreciate the formal dining room, as well as the kitchen, which includes stone countertops, matching black appliances, and an eat-in area with a lovely bay window that truly elevates the space. The spacious primary bedroom offers vaulted ceilings, two closets (one walk-in), and an ensuite bathroom.

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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
 

$214,110$261,690$237,900

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 -$826
Property Tax -$341
Property Insurance -$69
HOA -$13
Property Management Fees -$119
CASH FLOW
$103

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.

$237,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.62%

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$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,794

INVESTMENT

$68,794

Down Payment
$59,475
Rehab Estimate
$5,750
Closing Costs
$3,569

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$826

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,475
Loan Amount $178,425
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$11,834

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
  • $0.68

    LIST RENT PER SQFT
  • $1,554

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,386
1$1,3862$1,4503$1,4704$1,470
$1,470
RENT COMPS ANALYSIS
  • 3901 Micah Lane Ellenwood, GA 4
    • 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.68
    •  
  • 4196 Boulder Pointe Drive Ellenwood, GA 1
    • 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 1998
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,386
    • $0.75
    •  
  • 4260 Boulder Pointe Drive Ellenwood, GA 2
    • 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 1996
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.73
    •  
  • 3810 Rolling Place Conley, GA 3
    • 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
Michelle Sanders
1.678.884.7933
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6829410
Last Updated: 01/19/2021
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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