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5220 Bailey Drive Ellenwood, GA 30294

3 Beds 4 Baths 2,048 sqft Built 2002

$199,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $97.17
  • 5 Days on Market
  • MLS # : 6804675
  • Updated Date : 11/06/2020 at 06:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,048 sqft
  • Baths : 2 full , 2 half
Listing Agent's Description

Check out this highly sought out neighborhood in Ellenwood. Well maintained split level with plenty of living space including a living room, a separate family room, and a formal dining area. Large Master bedroom with extra sitting space and two closets. Beautifully maintained landscaping, rocking chair front porch and a deck perfect for grilling. With extra driveway space in addition to a two car garage. Great for a multi car family. Close to I 675 for easy access to wherever your need to go!

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: 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
East Clayton Elementary School Primary Regular 615 37 5
Adamson Middle School Middle Regular 600 40 5
Morrow High School High Regular 1,830 83 3

East Clayton Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 37
5
GreatSchools Rating

Adamson Middle School

  • Education Level: Middle
  • # of students: 600
  • # of teachers: 40
5
GreatSchools Rating

Morrow High School

  • Education Level: High
  • # of students: 1,830
  • # of teachers: 83
3
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$734
Property Tax -$213
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$177

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.

$199,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.66%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$22,081

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,393

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,235
1$1,2352$1,3103$1,3994$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 5220 Bailey Drive Ellenwood, GA 2
    • 3 beds 3 baths ∙ 2,048 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,048 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.64
    •  
  • 5643 Rex Mill Creek Rex, GA 1
    • 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 1988
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,235
    • $0.61
    •  
  • 5876 Colonnade Drive Rex, GA 3
    • 4 beds 3 baths ∙ 2,184 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,184 Sqft ∙ Built 2004
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.64
    •  
  • 3790 Clayton Crossing Way Ellenwood, GA 4
    • 3 beds 3 baths ∙ 2,174 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,174 Sqft ∙ Built 1999
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
  • 5526 Luther Court Ellenwood, GA 5
    • 4 beds 2 baths ∙ 2,396 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,396 Sqft ∙ Built 2015
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.71
    •  
PROPERTY LISTING DETAILS
Mark Spain
1.770.886.9000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6804675
Last Updated: 11/06/2020
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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