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596 Lakeridge Drive Se Conyers, GA 30094

4 Beds 2 Baths 2,254 sqft Built 1975

INVESTimate

$165,000

List Price

$1,470

$1,323 - $1,617

Rent Est.

$177,326  ( +7.47%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1975
  • Price/Sqft : $73.20
  • 5 Days on Market
  • MLS # : 6771144
  • Updated Date : 08/24/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,254 sqft
  • Baths : 2 full
Listing Agent's Description

Completely renovated 4/2. Home boasts new hardwood floors throughout. New landscaping around perimeter. Freshly painted. All new appliances. Close to shopping, restaurants, schools. Will not last long.

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

Neighborhood: Stanton Woods-Landmark

NeighborhoodNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $66k209k

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

Neighborhood: Stanton Woods-Landmark

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7761509

* 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
 

$148,500$181,500$165,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

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$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$609
Property Tax -$188
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$483

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.

$165,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.89%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.47%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$609

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

15.42

YEARS SAVED

$49,627

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,499

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4703$1,535
$1,535
RENT COMPS ANALYSIS
  • 596 Lakeridge Drive Se Conyers, 2
    • 4 beds 2 baths ∙ 2,254 Sqft ∙ Built 1975 4 beds 2 baths ∙ 2,254 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.65
    •  
  • 1038 Duke Drive Conyers, 1
    • 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 1972 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 1972
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.64
    •  
  • 2950 Camary Place Drive Conyers, 3
    • 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1991
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.69
    •  
PROPERTY LISTING DETAILS
Robert Norris
1.470.379.6258
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6771144
Last Updated: 08/24/2020
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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