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5967 Dart Drive Lithonia, GA 30058

4 Beds 2 Baths 1,620 sqft Built 1980

$159,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $98.15
  • 4 Days on Market
  • MLS # : 6831063
  • Updated Date : 01/22/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,620 sqft
  • Baths : 2 full

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

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
 

$143,100$174,900$159,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$552
Property Tax -$230
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$270

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.

$159,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.77%

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$47,885

INVESTMENT

$47,885

Down Payment
$39,750
Rehab Estimate
$5,750
Closing Costs
$2,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$552

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $39,750
Loan Amount $119,250
See What Happens When You Reinvest Cash Flow

11

YEARS SAVED

$26,751

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,211

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,3003$1,3404$1,3925$1,495
$1,495
RENT COMPS ANALYSIS
  • 5967 Dart Drive Lithonia, GA 1
    • 4 beds 2 baths ∙ 1,620 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,620 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.76
    •  
  • 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
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.73
    •  
  • 1716 Tree Line Road Lithonia, GA 3
    • 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 1975
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $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
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,392
    • $0.76
    •  
  • 5403 Wellborn Creek Drive Lithonia, GA 5
    • 3 beds 3 baths ∙ 1,932 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,932 Sqft ∙ Built 1999
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.77
    •  
PROPERTY LISTING DETAILS
Carmen Small
1.770.866.4231
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831063
Last Updated: 01/22/2021
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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