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511 Clubland Circle Se Conyers, GA 30094

4 Beds 3 Baths 2,272 sqft Built 1979

$229,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $101.19
  • 7 Days on Market
  • MLS # : 6806610
  • Updated Date : 11/10/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,272 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Fantastic Multi Level Home in sought after Honey Creek! Separate Family, Living and Dining rooms. Eat in Kitchen! Four bedrooms upend two full baths. Family room includes a masonry fireplace and built in bookshelves. Unfinished basement-ideal for workshop or storage. Beautiful backyard with fruit trees and storage building. Plenty of room for working at home at virtual school. Recently painted outside.

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Honey Creek

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $90k209k

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

Neighborhood: Honey Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290095010001050110011501200125013001350140014501500Rent in $8631521

* 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
Honey Creek Elementary School Primary Regular 596 38 5
Edwards Middle School Middle Regular 885 59 5
Heritage High School High Regular 1,814 86 5

Honey Creek Elementary School

  • Education Level: Primary
  • # of students: 596
  • # of teachers: 38
5
GreatSchools Rating

Edwards Middle School

  • Education Level: Middle
  • # of students: 885
  • # of teachers: 59
5
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students: 1,814
  • # of teachers: 86
5
GreatSchools Rating
 

$206,910$252,890$229,900

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 -$848
Property Tax -$262
Property Insurance -$71
HOA -$7
Property Management Fees -$119
CASH FLOW
$323

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$229,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$45,466

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
  • $0.72

    LIST RENT PER SQFT
  • $1,590

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5353$1,6004$1,630
$1,630
RENT COMPS ANALYSIS
  • 511 Clubland Circle Se Conyers, GA 4
    • 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.72
    •  
  • 4751 Cold Creek Way Se Conyers, GA 1
    • 4 beds 3 baths ∙ 2,270 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,270 Sqft ∙ Built 1973
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.67
    •  
  • 2950 Camary Place Drive Conyers, GA 2
    • 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1991
    property image
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.69
    •  
  • 3712 Jolane Terrace Se Conyers, GA 3
    • 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 1988
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.74
    •  
PROPERTY LISTING DETAILS
Carol Moore
1.404.312.6739
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6806610
Last Updated: 11/10/2020
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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