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513 Epris Lane Mcdonough, GA 30253

3 Beds 3 Baths 1,398 sqft Built 2004

$155,000

List Price

$1,120

$1K - $1.2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $110.87
  • 3 Days on Market
  • MLS # : 6831246
  • Updated Date : 01/23/2021 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,398 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This McDonough two-story home offers a patio, and a one-car garage. This home is vacant and cleaned regularly.

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

Neighborhood: Bridgewater Crossing

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200kPrice in $61k209k

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

Neighborhood: Bridgewater Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7311509

* 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
Wesley Lakes Elementary School Primary Regular 530 34 4
Eagle's Landing Middle School Middle Regular 987 55 5
Eagle's Landing High School High Regular 1,226 75 5

Wesley Lakes Elementary School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 34
4
GreatSchools Rating

Eagle's Landing Middle School

  • Education Level: Middle
  • # of students: 987
  • # of teachers: 55
5
GreatSchools Rating

Eagle's Landing High School

  • Education Level: High
  • # of students: 1,226
  • # of teachers: 75
5
GreatSchools Rating
 

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

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$538
Property Tax -$179
Property Insurance -$54
HOA -$27
Property Management Fees -$119
CASH FLOW
$203

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

$1,120

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.5%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

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

$538

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $38,750
Loan Amount $116,250
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$20,255

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,120

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,188

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,120
1$1,1202$1,3253$1,3954$1,500
$1,500
RENT COMPS ANALYSIS
  • 513 Epris Lane Mcdonough, GA 1
    • 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,120
    • $0.80
    •  
  • 705 Claven Court Mcdonough, GA 2
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1996
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.85
    •  
  • 335 Fallview Drive Mcdonough, GA 3
    • 4 beds 2 baths ∙ 1,653 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,653 Sqft ∙ Built 1997
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.84
    •  
  • 313 Parkview Place Drive Mcdonough, GA 4
    • 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 2018
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
PROPERTY LISTING DETAILS
Kim Klir
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831246
Last Updated: 01/23/2021
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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