Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6116 Mount Zion Boulevard Ellenwood, GA 30294

3 Beds 1 Baths 1,248 sqft Built 1971

$150,900

List Price

$950

$855 - $1K

Rent Est.

PROPERTY INFO

November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $120.91
  • 8 Days on Market
  • MLS # : 6811878
  • Updated Date : 11/24/2020 at 19:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,248 sqft
  • Baths : 1 full
Listing Agent's Description

Come and take a look at this wonderful 4 bedroom and 2 bathroom home in Ellenwood that is just minutes away from local schools! The first thing you'll notice about this home is the privacy that it offers. It's tucked away from the busy road. Hardwood flooring covers most of the home. The kitchen has a ton of character and we just love the copious amounts of counter space and the stainless steel fridge. The primary bedroom is very spacious and is well-lit with natural light. The home is also conveniently located between both I-75 and I-675.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30294

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30294

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
Marshall Elementary School Primary Regular 919 45 5
Adamson Middle School Middle Regular 600 40 5
Morrow High School High Regular 1,830 83 3

Marshall Elementary School

  • Education Level: Primary
  • # of students: 919
  • # of teachers: 45
5
GreatSchools Rating

Adamson Middle School

  • Education Level: Middle
  • # of students: 600
  • # of teachers: 40
5
GreatSchools Rating

Morrow High School

  • Education Level: High
  • # of students: 1,830
  • # of teachers: 83
3
GreatSchools Rating
 

$135,810$165,990$150,900

PURCHASE PRICE

$855$1,045$950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $950
EXPENSES Loan Payment -$557
Property Tax -$162
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$61

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.

$150,900

PROJECTED PRICE

$950

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.2%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,739

INVESTMENT

$45,739

Down Payment
$37,725
Rehab Estimate
$5,750
Closing Costs
$2,264

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$557

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,725
Loan Amount $113,175
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$9,966

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $950

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $973

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$9553$1,0254$1,1255$1,188
$1,188
RENT COMPS ANALYSIS
  • 6116 Mount Zion Boulevard Ellenwood, GA 1
    • 3 beds 1 baths ∙ 1,248 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,248 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.76
    •  
  • 2600 Stratford Lane Morrow, GA 2
    • 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1973
    property image
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $955
    • $0.75
    •  
  • 6574 Katie Lane Morrow, GA 3
    • 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1968
    property image
    LEASED 06/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $0.80
    •  
  • 2603 Lilac Drive Morrow, GA 4
    • 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1968
    property image
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $0.81
    •  
  • 6511 Melandre Drive Morrow, GA 5
    • 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 1974
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,188
    • $0.76
    •  
PROPERTY LISTING DETAILS
Michelle Sanders
1.678.884.7933
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6811878
Last Updated: 11/24/2020
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.

BESbswy