Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

726 Derek Place Locust Grove, GA 30248

3 Beds 3 Baths 1,742 sqft Built 2000

$214,900

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $123.36
  • 5 Days on Market
  • MLS # : 6814538
  • Updated Date : 12/03/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,742 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Don't miss this two story home in Locust Grove! NEW HVAC! This home has been refreshed with new two-tone interior paint. Off the entry is a spacious living room with a fireplace to cozy up to. The kitchen features new granite countertops and new stainless steel appliances. Half bathroom on the main floor for guests' convenience. All bedrooms and full bathrooms as well as a loft located on the second floor. The primary bedroom has an ensuite bathroom with dual sinks, separate shower and tub, and a walk in closet. Other bedrooms are spacious. Fenced backyard with

SEE MORE

MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)

PRICE & RENT TRENDS

Zip Code: 30248

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30248

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
Luella Elementary School Primary Regular 662 39 5
Luella Middle School Middle Regular 792 47 5
Luella High School High Regular 1,389 82 5

Luella Elementary School

  • Education Level: Primary
  • # of students: 662
  • # of teachers: 39
5
GreatSchools Rating

Luella Middle School

  • Education Level: Middle
  • # of students: 792
  • # of teachers: 47
5
GreatSchools Rating

Luella High School

  • Education Level: High
  • # of students: 1,389
  • # of teachers: 82
5
GreatSchools Rating
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$793
Property Tax -$247
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$40

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.

$214,900

PROJECTED PRICE

$1,180

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$5,203

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,320

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,180
1$1,1802$1,1953$1,2654$1,2995$1,349
$1,349
RENT COMPS ANALYSIS
  • 726 Derek Place Locust Grove, GA 1
    • 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.68
    •  
  • 175 Planters Walk Locust Grove, GA 2
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1991
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.64
    •  
  • 612 Everlasting Way Locust Grove, GA 3
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 2006
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,265
    • $0.83
    •  
  • 300 Klinetop Drive Mcdonough, GA 4
    • 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 2007
    property image
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.82
    •  
  • 185 Whistle Way Locust Grove, GA 5
    • 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 2003
    property image
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.74
    •  
PROPERTY LISTING DETAILS
Jacqueline Shaffer
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6814538
Last Updated: 12/03/2020
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.

BESbswy