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6227 Lake Valley Point Lithonia, GA 30058

3 Beds 3 Baths 1,588 sqft Built 2005

$185,000

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $116.50
  • 3 Days on Market
  • MLS # : 6837189
  • Updated Date : 02/06/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,588 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Vaulted Cathedral Ceilings. HUGE OWNERS' bedroom with covered balcony attached. VERY WELL MAINTAINED. END UNIT and CORNER LOT. BEAUTIFUL Townhome in DESIRABLE Neighborhood!! Large family room with fireplace. Kitchen with a view of the family room and pantry. Hardwood floors. View of wooded area from patio and balcony. Home is convenient to shopping and Stone Mountain Park. Close to everything!! Come See it Before IT IS GONE!!

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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: 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
Shadow Rock Elementary School Primary Regular 659 40 3
Redan Middle School Middle Regular 762 53 4
Redan High School High Regular 1,107 66 3

Shadow Rock Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 40
3
GreatSchools Rating

Redan Middle School

  • Education Level: Middle
  • # of students: 762
  • # of teachers: 53
4
GreatSchools Rating

Redan High School

  • Education Level: High
  • # of students: 1,107
  • # of teachers: 66
3
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$643
Property Tax -$268
Property Insurance -$58
HOA -$33
Property Management Fees -$119
CASH FLOW
$39

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.

$185,000

PROJECTED PRICE

$1,160

PROJECTED RENT

0.63%

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$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$643

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$6,133

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,175

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,160
1$1,1602$1,2753$1,3654$1,375
$1,375
RENT COMPS ANALYSIS
  • 6227 Lake Valley Point Lithonia, GA 1
    • 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $0.73
    •  
  • 946 Fox Valley Court Stone Mountain, GA 2
    • 4 beds 3 baths ∙ 1,678 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,678 Sqft ∙ Built 1986
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.76
    •  
  • 6936 Deshon Ridge Drive Lithonia, GA 3
    • 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 1986
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,365
    • $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
    •  
PROPERTY LISTING DETAILS
Skyla Hutchins
1.404.583.8043
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837189
Last Updated: 02/06/2021
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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