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6361 Saddlewood Drive Lithonia, GA 30058

4 Beds 3 Baths 2,200 sqft Built 1972

$199,500

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $90.68
  • 7 Days on Market
  • MLS # : 6798184
  • Updated Date : 01/05/2021 at 12:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,200 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful 4 bedroom 2.5 bath, roof 3 years, with newer ceramic tiles in foyer, kitchen and family room. Hard hardwood in bedrooms. Separate dining and living rooms, with sunken family room. Large master bedroom with spacious secondary rooms. Deck leading from secondary rooms overlooking the beautiful backyard. Extra storage in garage. Large outbuilding for additional storage. No HOA. Large lot.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 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
Princeton Elementary School Primary Regular 924 53 2
Lithonia Middle School Middle Regular 1,158 71 2
Lithonia High School High Regular 1,315 77 3

Princeton Elementary School

  • Education Level: Primary
  • # of students: 924
  • # 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
 

$179,550$219,450$199,500

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$693
Property Tax -$289
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$259

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.

$199,500

PROJECTED PRICE

$1,430

PROJECTED RENT

0.72%

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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,618

INVESTMENT

$58,618

Down Payment
$49,875
Rehab Estimate
$5,750
Closing Costs
$2,993

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$693

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,875
Loan Amount $149,625
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$25,745

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,436

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3253$1,3754$1,4305$1,569
$1,569
RENT COMPS ANALYSIS
  • 6361 Saddlewood Drive Lithonia, GA 4
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.65
    •  
  • 6255 Saddlewood Drive Lithonia, GA 1
    • 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 1972
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.71
    •  
  • 1204 Regal Heights Drive Lithonia, GA 2
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 1988
    property image
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.60
    •  
  • 1265 Baywood Glen Lithonia, GA 3
    • 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1991
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.67
    •  
  • 1002 Walnut Trace Lithonia, GA 5
    • 5 beds 4 baths ∙ 2,490 Sqft ∙ Built 1992 5 beds 4 baths ∙ 2,490 Sqft ∙ Built 1992
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,569
    • $0.63
    •  
PROPERTY LISTING DETAILS
Everton Lindo
1.404.934.7119
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6798184
Last Updated: 01/05/2021
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. © 2017 First Multiple Listing Service, Inc.

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