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62 Ashley Lane Hiram, GA 30141

3 Beds 3 Baths 1,902 sqft Built 1992

INVESTimate

$238,400

List Price

$1,350

$1,215 - $1,485

Rent Est.

$261,525  ( +9.70%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1992
  • Price/Sqft : $125.34
  • 22 Days on Market
  • MLS # : 6759595
  • Updated Date : 08/21/2020 at 09:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,902 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Meticulously maintained and updated 3 bedrooms, 2.5 bath home. This home features fresh paint and flooring throughout the home. Country style kitchen with white cabinetry, matching appliances, tile countertops, and plenty of counter space/storage. Off the eat-in kitchen find a French door that opens to a heated and cooled sunroom, adjacent is an oversized screened-in porch with fan and beautiful views, massive deck and wrap around porch. The oversized master bedroom features tray ceilings, private access to the upstairs covered porch with views of mature trees and no

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

Zip Code: 30141

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $87k209k

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

Zip Code: 30141

ZipNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500Rent in $9651509

* 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
Panter Elementary School Primary Regular 543 41 6
Dobbins Middle School Middle Regular 793 48 7
Hiram High School High Regular 1,636 80 5

Panter Elementary School

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 41
6
GreatSchools Rating

Dobbins Middle School

  • Education Level: Middle
  • # of students: 793
  • # of teachers: 48
7
GreatSchools Rating

Hiram High School

  • Education Level: High
  • # of students: 1,636
  • # of teachers: 80
5
GreatSchools Rating
 

$214,560$262,240$238,400

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$880
Property Tax -$210
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$77

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$238,400

PROJECTED PRICE

$1,350

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.70%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,926

INVESTMENT

$68,926

Down Payment
$59,600
Rehab Estimate
$5,750
Closing Costs
$3,576

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$880

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,600
Loan Amount $178,800
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$19,246

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
  • $0.71

    LIST RENT PER SQFT
  • $1,446

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,3504$1,350
$1,350
RENT COMPS ANALYSIS
  • 62 Ashley Lane Hiram, 4
    • 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.71
    •  
  • 21 Poole Bridge Court Hiram, 1
    • 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 1994
    property image
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.77
    •  
  • 17 Mitchell Drive Hiram, 2
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2005
    property image
    LEASED 05/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.78
    •  
  • 108 Old Granger Road Hiram, 3
    • 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 2006
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.73
    •  
PROPERTY LISTING DETAILS
Shari Mosteller
1.770.713.0106
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6759595
Last Updated: 08/21/2020
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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