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6292 Creekford Lane Lithonia, GA 30058

3 Beds 3 Baths 1,344 sqft Built 1986

INVESTimate

$189,900

List Price

$1,030

$927 - $1,133

Rent Est.

$206,820  ( +8.91%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1986
  • Price/Sqft : $141.29
  • 20 Days on Market
  • MLS # : 6764038
  • Updated Date : 08/23/2020 at 18:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

DOWN TO THE STUDS RENOVATION! MODERN, CLEAN LINES AND STYLISH FINISHES FLOW THROUGHOUT. NEW DRIVEWAY, NEW SIDING, NEW ROOF, NEW ELECTRICAL & PLUMBING, NEW DRYWALL, FRESH PAINT IN & OUT, LVP FLOORING ON MAIN, NEW CARPET UPSTAIRS, HIGH END WINDOWS, NEW SYSTEMS, SS APPLIANCES, GAS RANGE, SHAKER CABINETS, GRANITE COUNTERS. DEEP GARAGE FITS 2 SM. CARS PARKED TANDEM. MIN. FROM SHOPS & I-20

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: 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
Panola Way Elementary School Primary Regular 863 53 2
Lithonia Middle School Middle Regular 1,158 71 2
Lithonia High School High Regular 1,315 77 3

Panola Way Elementary School

  • Education Level: Primary
  • # of students: 863
  • # of teachers: 53
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
 

$170,910$208,890$189,900

PURCHASE PRICE

$927$1,133$1,030

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,030
EXPENSES Loan Payment -$701
Property Tax -$275
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
-$118

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.

$189,900

PROJECTED PRICE

$1,030

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.91%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,139

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,030

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,028

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,0303$1,1104$1,2105$1,299
$1,299
RENT COMPS ANALYSIS
  • 6292 Creekford Lane Lithonia, 2
    • 3 beds 3 baths ∙ 1,344 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,344 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,030
    • $0.77
    •  
  • 6249 Creekford Lane Lithonia, 1
    • 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 1986
    property image
    LEASED 05/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.74
    •  
  • 5938 Bobbin Court Lithonia, 3
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1979
    property image
    LEASED 05/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,110
    • $0.75
    •  
  • 2063 Wellborn Close Lithonia, 4
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1984
    property image
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.80
    •  
  • 2421 Rambling Way Lithonia, 5
    • 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2000
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.77
    •  
PROPERTY LISTING DETAILS
Kara Lyness
1.404.542.3790
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6764038
Last Updated: 08/23/2020
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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