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6598 Willow Lane Winston, GA 30187

4 Beds 2 Baths 1,269 sqft Built 1983

$195,000

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $153.66
  • 5 Days on Market
  • MLS # : 6822497
  • Updated Date : 12/30/2020 at 21:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,269 sqft
  • Baths : 2 full
Listing Agent's Description

Welcome home!!!! You will love calling this 4 bedroom 2 bathroom home with 2 living spaces YOURS! Newly renovated boasting new floors and paint. New A/C unit, hot water heater, fixtures and MORE! This beautiful corner lot is just minutes away from shopping and dinning. Entertain (after COVID-19 of course) on your new back deck overlooking your large fully fenced backyard. A backyard perfect for running around, playing, and more! Schedule your viewing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Rainbow Heights

NeighborhoodNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $66k209k

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

Neighborhood: Rainbow Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7591509

* 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
Bright Star Elementary School Primary Regular 452 31 4
Mason Creek Middle School Middle Regular 868 49 5
Alexander High School High Regular 1,729 96 7

Bright Star Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 31
4
GreatSchools Rating

Mason Creek Middle School

  • Education Level: Middle
  • # of students: 868
  • # of teachers: 49
5
GreatSchools Rating

Alexander High School

  • Education Level: High
  • # of students: 1,729
  • # of teachers: 96
7
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$719
Property Tax -$178
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$122

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.

$195,000

PROJECTED PRICE

$1,190

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.0%
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$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

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$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$21,421

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,161

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,135
1$1,1352$1,1903$1,2504$1,2605$1,280
$1,280
RENT COMPS ANALYSIS
  • 6598 Willow Lane Winston, GA 2
    • 4 beds 2 baths ∙ 1,269 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,269 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $0.94
    •  
  • 6598 Apache Lane Douglasville, GA 1
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1981
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,135
    • $0.91
    •  
  • 3354 Cheoah Drive Douglasville, GA 3
    • 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1968
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.90
    •  
  • 3486 Scenic Drive Winston, GA 4
    • 4 beds 3 baths ∙ 1,380 Sqft ∙ Built 1972 4 beds 3 baths ∙ 1,380 Sqft ∙ Built 1972
    property image
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.91
    •  
  • 6148 Hillpine Drive Douglasville, GA 5
    • 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1973
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.94
    •  
PROPERTY LISTING DETAILS
Rashonda Thomas
1.678.983.5273
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6822497
Last Updated: 12/30/2020
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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