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5788 Giles Road Lithonia, GA 30058

3 Beds 3 Baths 1,721 sqft Built 1996

$160,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $92.97
  • 5 Days on Market
  • MLS # : 6814728
  • Updated Date : 12/05/2020 at 17:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,721 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Sold as-is! Welcome to this open floor plan dream! Home needs some TLC, but the amount of space is a charmer. All bedrooms are located upstairs including an oversized master! First floor boast a large formal living room/ den, formal dining room, and a separate family room off the eat-in kitchen. Ready for a new owner or Investor! Must give 24 hours showing notice. Home is tenant occupied! No lockbox on property. PLEASE follow covid-19 procedures & wear a mask. No mask, No showing.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Zip Code: 30058

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30058

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
Redan Elementary School Primary Regular 507 34 2
Lithonia Middle School Middle Regular 1,158 71 2
Lithonia High School High Regular 1,315 77 3

Redan Elementary School

  • Education Level: Primary
  • # of students: 507
  • # of teachers: 34
2
GreatSchools Rating

Lithonia Middle School

  • Education Level: Middle
  • # of students: 1,158
  • # of teachers: 71
2
GreatSchools Rating

Lithonia High School

  • Education Level: High
  • # of students: 1,315
  • # of teachers: 77
3
GreatSchools Rating
 

$144,000$176,000$160,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$590
Property Tax -$232
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$238

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.

$160,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,150

INVESTMENT

$48,150

Down Payment
$40,000
Rehab Estimate
$5,750
Closing Costs
$2,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$590

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $40,000
Loan Amount $120,000
See What Happens When You Reinvest Cash Flow

9.92

YEARS SAVED

$27,362

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,274

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,240
1$1,2402$1,3003$1,3754$1,3925$1,400
$1,400
RENT COMPS ANALYSIS
  • 5788 Giles Road Lithonia, GA 1
    • 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.72
    •  
  • 6122 Great Oaks Drive Lithonia, GA 2
    • 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 1989
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.73
    •  
  • 6112 Shadow Rock Lane Lithonia, GA 3
    • 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 2003
    property image
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.73
    •  
  • 5712 Albans Way Lithonia, GA 4
    • 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 1979
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,392
    • $0.76
    •  
  • 5812 Calico Court Lithonia, GA 5
    • 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1984
    property image
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.74
    •  
PROPERTY LISTING DETAILS
Ashley Mandowa
1.770.330.7212
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6814728
Last Updated: 12/05/2020
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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