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441 Lake Ridge Lane Fairburn, GA 30213

4 Beds 3 Baths 2,608 sqft Built 2007

$250,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $95.86
  • 1 Days on Market
  • MLS # : 6803858
  • Updated Date : 11/03/2020 at 01:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,608 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful 4 bedroom, 2 bath home features inviting 2 story foyer, spacious living room and dining room and amazing eat-in kitchen with pantry and view to family room with fireplace. Upstairs Owner's suite features sitting room and spa-like bath with double vanity, separate shower, sep soaking tub and walk-in closet. 3 additional generous sized bedrooms on the upper level. Patio overlooks level fenced backyard. Great cul-de-sac lot!

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: 30213

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30213

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171521

* 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
Liberty Point Elementary School Primary Regular 775 55 5
Renaissance Middle School Middle Regular 1,208 83 3
Langston Hughes High School High Regular 1,890 105 3

Liberty Point Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 55
5
GreatSchools Rating

Renaissance Middle School

  • Education Level: Middle
  • # of students: 1,208
  • # of teachers: 83
3
GreatSchools Rating

Langston Hughes High School

  • Education Level: High
  • # of students: 1,890
  • # of teachers: 105
3
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$922
Property Tax -$198
Property Insurance -$78
HOA -$28
Property Management Fees -$119
CASH FLOW
$256

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.

$250,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.6%
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

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$33,474

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,600

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6714$1,785
$1,785
RENT COMPS ANALYSIS
  • 441 Lake Ridge Lane Fairburn, GA 1
    • 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.61
    •  
  • 1075 Winding Brook Way Fairburn, GA 2
    • 4 beds 4 baths ∙ 2,716 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,716 Sqft ∙ Built 2004
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.61
    •  
  • 5018 Upper Elm Street Atlanta, GA 3
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2004
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,671
    • $0.60
    •  
  • 2154 Dodson Woods Drive Fairburn, GA 4
    • 4 beds 3 baths ∙ 2,816 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,816 Sqft ∙ Built 2016
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.63
    •  
PROPERTY LISTING DETAILS
Tangie Warrior
1.404.604.3318
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803858
Last Updated: 11/03/2020
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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