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61 Lantana Crossing Dallas, GA 30132

4 Beds 3 Baths 2,279 sqft Built 2021

$259,555

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $113.89
  • 7 Days on Market
  • MLS # : 6843597
  • Updated Date : 02/26/2021 at 17:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,279 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

UNDER CONSTRUCTION: The Chatsworth CC floor plan by Kerley Family Homes is a customer favorite - it has a large balcony on the front! A Foyer leads to the sunny Dining Room with a double window, shadow box trim, and chair rail. The Kitchen with granite counters, tile backsplash, and island with breakfast bar opens to the Breakfast Room and Family Room. The Breakfast Room has access to the covered deck. Upstairs a spacious Master Suite with double vanity, separate tub, and shower, and large closet. There are also 3 large secondary bedrooms and a convenient Laundry Room.

SEE MORE

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)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 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)
  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30132

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $88k209k

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

Zip Code: 30132

ZipNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9481509

* 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
Abney Elementary School Primary Regular 949 59 7
Moses Middle School Middle Regular 575 36 7
North Paulding High School High Regular 2,034 91 7

Abney Elementary School

  • Education Level: Primary
  • # of students: 949
  • # of teachers: 59
7
GreatSchools Rating

Moses Middle School

  • Education Level: Middle
  • # of students: 575
  • # of teachers: 36
7
GreatSchools Rating

North Paulding High School

  • Education Level: High
  • # of students: 2,034
  • # of teachers: 91
7
GreatSchools Rating
 

$233,600$285,511$259,555

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$902
Property Tax -$229
Property Insurance -$71
HOA -$18
Property Management Fees -$119
CASH FLOW
$12

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$259,555

PROJECTED PRICE

$1,350

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 3.00%
Vacancy 7.33%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,782

INVESTMENT

$70,782

Down Payment
$64,889
Rehab Estimate
$2,000
Closing Costs
$3,893

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$902

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,889
Loan Amount $194,666
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$11,509

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $1,641

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,5244$1,7155$1,730
$1,730
RENT COMPS ANALYSIS
  • 61 Lantana Crossing Dallas, GA 1
    • 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.59
    •  
  • 253 Lantana Crossing Dallas, GA 2
    • 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 2018
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.68
    •  
  • 496 Shady Glen Dallas, GA 3
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2017
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,524
    • $0.73
    •  
  • 528 Fieldcrest Drive Dallas, GA 4
    • 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2017
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,715
    • $0.78
    •  
  • 349 Holbrook Drive Dallas, GA 5
    • 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2014
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.69
    •  
PROPERTY LISTING DETAILS
Priscilla Cox
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6843597
Last Updated: 02/26/2021
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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