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7010 Red Maple Lane Lithonia, GA 30058

3 Beds 3 Baths 1,564 sqft Built 2004

$180,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $115.09
  • 7 Days on Market
  • MLS # : 6824130
  • Updated Date : 01/06/2021 at 15:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,564 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This is a great starter home! The master bedroom features tray ceilings, large closets, bathroom with stained glass shower and a whirlpool tub. Secondary bedrooms are spacious. On cold nights, cozy up to the fireplace in the living room. The spacious deck is perfect for entertaining. The HVAC system is just over 2 years old. The home is in a cul-de-sac. Home sold AS IS. Please follow COVID GUIDELINES.

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
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$625
Property Tax -$261
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$338

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.

$180,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.78%

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$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$33,538

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,185

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3653$1,4004$1,4275$1,475
$1,475
RENT COMPS ANALYSIS
  • 7010 Red Maple Lane Lithonia, GA 3
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 1345 Cutters Mill Drive Lithonia, GA 1
    • 3 beds 3 baths ∙ 1,718 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,718 Sqft ∙ Built 2001
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.75
    •  
  • 6936 Deshon Ridge Drive Lithonia, GA 2
    • 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 1986
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,365
    • $0.73
    •  
  • 7513 Edenberry Way Lithonia, GA 4
    • 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 1999
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,427
    • $0.75
    •  
  • 883 Timbervale Lane Lithonia, GA 5
    • 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 1988
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.80
    •  
PROPERTY LISTING DETAILS
Mica Kelley
1.678.437.0559
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6824130
Last Updated: 01/06/2021
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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