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642 Clubland Circle Se Conyers, GA 30094

3 Beds 2 Baths 2,585 sqft Built 1988

$294,500

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $113.93
  • 3 Days on Market
  • MLS # : 6831469
  • Updated Date : 01/23/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,585 sqft
  • Baths : 2 full
Listing Agent's Description

Great curb appeal on this Cape Cod style, brick house on a level lot backing up to a golf course – what’s not to love?! Upon entering the front door, you’re greeted by an open dining room and huge family room with soaring ceilings and a fireplace – a nice sized deck overlooking the golf course is right off the family room! The large & sunny kitchen features pretty granite countertops, newer appliances, a nice breakfast area and great storage! The 2-car garage is off the kitchen, as is the laundry room.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)

PRICE & RENT TRENDS

Neighborhood: Honey Creek

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $90k209k

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

Neighborhood: Honey Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290095010001050110011501200125013001350140014501500Rent in $8631521

* 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
Honey Creek Elementary School Primary Regular 596 38 5
Edwards Middle School Middle Regular 885 59 5
Heritage High School High Regular 1,814 86 5

Honey Creek Elementary School

  • Education Level: Primary
  • # of students: 596
  • # of teachers: 38
5
GreatSchools Rating

Edwards Middle School

  • Education Level: Middle
  • # of students: 885
  • # of teachers: 59
5
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students: 1,814
  • # of teachers: 86
5
GreatSchools Rating
 

$265,050$323,950$294,500

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,023
Property Tax -$336
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
$55

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.

$294,500

PROJECTED PRICE

$1,610

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,793

INVESTMENT

$83,793

Down Payment
$73,625
Rehab Estimate
$5,750
Closing Costs
$4,418

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,023

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,625
Loan Amount $220,875
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$15,264

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,564

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5253$1,610
$1,610
RENT COMPS ANALYSIS
  • 642 Clubland Circle Se Conyers, GA 3
    • 3 beds 2 baths ∙ 2,585 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,585 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.62
    •  
  • 609 Sugar Creek Trail Se Conyers, GA 1
    • 4 beds 3 baths ∙ 2,766 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,766 Sqft ∙ Built 1972
    LEASED 07/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.54
    •  
  • 4751 Cold Creek Way Se Conyers, GA 2
    • 4 beds 3 baths ∙ 2,270 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,270 Sqft ∙ Built 1973
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.67
    •  
PROPERTY LISTING DETAILS
Shawn Perez
1.404.234.3166
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831469
Last Updated: 01/23/2021
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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