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4633 Highway 42 Locust Grove, GA 30248

4 Beds 1 Baths 1,415 sqft Built 1992

INVESTimate

$155,000

List Price

$1,200

$1,080 - $1,320

Rent Est.

$162,766  ( +5.01%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $109.54
  • 6 Days on Market
  • MLS # : 6770878
  • Updated Date : 08/22/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,415 sqft
  • Baths : 1 full
Listing Agent's Description

CUTE SOUTHERN CHARM with Cedar Posts & Window Flower Boxes! 4 Bedrooms, 1 Full Bath with a Large Mud/Laundry Room with exterior door, New Blinds throughout the home, New Engineered Hardwood throughout including the bathroom, Fresh Paint Inside & Out, Roof less than 6 years old, Fenced Back Yard! Over an acre lot! This house is cute as a button! Very Convenient to town with Locust Grove shopping, Medical & Interstate! Schedule your showing & Make it YOUR home today!

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: 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
Locust Grove Elementary School Primary Regular 472 36 4
Locust Grove Middle School Middle Regular 980 52 4
Locust Grove High School High Regular 1,371 82 5

Locust Grove Elementary School

  • Education Level: Primary
  • # of students: 472
  • # of teachers: 36
4
GreatSchools Rating

Locust Grove Middle School

  • Education Level: Middle
  • # of students: 980
  • # of teachers: 52
4
GreatSchools Rating

Locust Grove High School

  • Education Level: High
  • # of students: 1,371
  • # of teachers: 82
5
GreatSchools Rating
 

$139,500$170,500$155,000

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k$450k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$572
Property Tax -$170
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$284

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.

$155,000

PROJECTED PRICE

$1,200

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.01%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,825

INVESTMENT

$46,825

Down Payment
$38,750
Rehab Estimate
$5,750
Closing Costs
$2,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$572

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $38,750
Loan Amount $116,250
See What Happens When You Reinvest Cash Flow

11.83

YEARS SAVED

$33,907

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,278

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2003$1,2354$1,435
$1,435
RENT COMPS ANALYSIS
  • 4633 Highway 42 Locust Grove, 2
    • 4 beds 1 baths ∙ 1,415 Sqft ∙ Built 1992 4 beds 1 baths ∙ 1,415 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.85
    •  
  • 361 Jasmine Drive Locust Grove, 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1998
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.77
    •  
  • 328 Kellys Walk Locust Grove, 3
    • 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 2001
    LEASED 05/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,235
    • $1.02
    •  
  • 324 Shelley Lane Locust Grove, 4
    • 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 2002
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.92
    •  
PROPERTY LISTING DETAILS
Angela Whitmire
1.678.614.1349
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770878
Last Updated: 08/22/2020
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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