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6836 Mahonia Place Lithonia, GA 30038

4 Beds 3 Baths 2,070 sqft Built 2004

$189,900

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $91.74
  • 3 Days on Market
  • MLS # : 6839624
  • Updated Date : 02/13/2021 at 19:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,070 sqft
  • Baths : 3 full
Listing Agent's Description

This updated home is ready for you! There is so much natural light coming through the bay windows in the family room and master bedroom. It also features a 2 car garage, brand new carpet throughout, ceiling fans, new wood flooring in the family room area and a eat in kitchen and bonus or bedroom on the main floor. There is covered porch entry at the front door, as well as a patio (great for grilling and chilling) in the fenced, private back yard. Also, the air condition unit is only one year old. Perfect for the upcoming summer weather! Come take a look and mak

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30038

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30038

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
Murphy Candler Elementary School Primary Regular 526 34 2
Salem Middle School Middle Regular 1,095 68 3
Martin Luther King, Junior High School High Regular 1,668 93 3

Murphy Candler Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 34
2
GreatSchools Rating

Salem Middle School

  • Education Level: Middle
  • # of students: 1,095
  • # of teachers: 68
3
GreatSchools Rating

Martin Luther King, Junior High School

  • Education Level: High
  • # of students: 1,668
  • # of teachers: 93
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$660
Property Tax -$275
Property Insurance -$67
HOA -$25
Property Management Fees -$119
CASH FLOW
$304

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

$1,450

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.9%
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$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 30% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$29,991

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,532

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4253$1,4504$1,740
$1,740
RENT COMPS ANALYSIS
  • 6836 Mahonia Place Lithonia, GA 3
    • 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.70
    •  
  • 6205 Leverett Drive Lithonia, GA 1
    • 3 beds 3 baths ∙ 2,016 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,016 Sqft ∙ Built 1999
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.69
    •  
  • 4850 Golod Court Lithonia, GA 2
    • 3 beds 3 baths ∙ 2,096 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,096 Sqft ∙ Built 2002
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.68
    •  
  • 4464 Idlewood Park Lithonia, GA 4
    • 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 2001
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.85
    •  
PROPERTY LISTING DETAILS
Kim Tullis
1.404.437.9882
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6839624
Last Updated: 02/13/2021
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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