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5987 Fairfield Estates Drive Lithonia, GA 30058

3 Beds 2 Baths 1,717 sqft Built 1988

$190,000

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $110.66
  • 3 Days on Market
  • MLS # : 6834238
  • Updated Date : 01/30/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,717 sqft
  • Baths : 2 full
Listing Agent's Description

This immaculate ranch 3 bedroom 2 full bathroom home is nestled in the city of Lithonia, with easy access to I-20. Features like the updated flooring, rustic statement fireplace, updated lighting fixtures, country kitchen, and the luxurious master suite make this home move-in ready. Great outdoor space to entertain family during the spring and summer seasons. 3D Virtual Home Tour Available. SHOWN BY APPOINTMENT ONLY. SEE Private Remarks

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (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).
  • 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)
  • #1 World’s Busiest Airport(Airports Council International, 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
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$660
Property Tax -$275
Property Insurance -$60
HOA -$10
Property Management Fees -$119
CASH FLOW
$25

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.

$190,000

PROJECTED PRICE

$1,150

PROJECTED RENT

0.61%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$5,737

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,275

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,3003$1,3404$1,3755$1,500
$1,500
RENT COMPS ANALYSIS
  • 5987 Fairfield Estates Drive Lithonia, GA 1
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.67
    •  
  • 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
    •  
  • 6112 Shadow Rock Lane Lithonia, GA 4
    • 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 2003
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.73
    •  
  • 1994 Spencer Oaks Lane Lithonia, GA 5
    • 3 beds 3 baths ∙ 1,915 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,915 Sqft ∙ Built 1985
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.78
    •  
PROPERTY LISTING DETAILS
Robert Louder
1.770.710.9341
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6834238
Last Updated: 01/30/2021
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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