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5834 Cedar Croft Lane Lithonia, GA 30058

4 Beds 3 Baths 2,184 sqft Built 2016

$249,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $114.42
  • 8 Days on Market
  • MLS # : 6820692
  • Updated Date : 12/21/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,184 sqft
  • Baths : 3 full
Listing Agent's Description

This is the PERFECT HOME for a Large Family!! This split level home features a large updated kitchen with granite counter tops and plenty of 42" inch Stained Cabinets! This open concept home allows you to entertain from the kitchen while viewing your guest in the living room and dining room! Stainless steel appliances are included. The master bedroom is Huge with a double vanity bathroom and walk in closet. Upstairs is complete with 2 additional large secondary rooms and a large hallway bathroom. Downstairs Features a Spacious In-Law/ Teen suite

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: 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
Panola Way Elementary School Primary Regular 863 53 2
Miller Grove Middle School Middle Regular 977 61 3
Miller Grove High School High Regular 1,551 83 4

Panola Way Elementary School

  • Education Level: Primary
  • # of students: 863
  • # of teachers: 53
2
GreatSchools Rating

Miller Grove Middle School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 61
3
GreatSchools Rating

Miller Grove High School

  • Education Level: High
  • # of students: 1,551
  • # of teachers: 83
4
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$922
Property Tax -$362
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$188

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.

$249,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.66%

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$200k$400k$600k$800k

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$22,187

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,589

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4003$1,4504$1,4955$1,660
$1,660
RENT COMPS ANALYSIS
  • 5834 Cedar Croft Lane Lithonia, GA 5
    • 4 beds 3 baths ∙ 2,184 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,184 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.76
    •  
  • 6112 Shadow Rock Lane Lithonia, GA 1
    • 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
    •  
  • 2343 Cove Lake Way Lithonia, GA 2
    • 3 beds 2 baths ∙ 2,006 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,006 Sqft ∙ Built 1999
    property image
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.70
    •  
  • 2555 Willenhall Way Lithonia, GA 3
    • 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1997
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.71
    •  
  • 5403 Wellborn Creek Drive Lithonia, GA 4
    • 3 beds 3 baths ∙ 1,932 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,932 Sqft ∙ Built 1999
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.77
    •  
PROPERTY LISTING DETAILS
Takia Chambers
1.404.392.1544
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6820692
Last Updated: 12/21/2020
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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