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7721 Outcrop Pass Lithonia, GA 30058

4 Beds 3 Baths 2,594 sqft Built 2014

$247,900

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $95.57
  • 7 Days on Market
  • MLS # : 6821151
  • Updated Date : 12/23/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,594 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

DO NOT DISTURB TENANT. TENANT WILL BE OUT BY 01/01/21. A MUST SEE! WON'T LAST LONG! THIS SPECTACULAR FOUR BEDROOM 2 1/2 BATH HOME IN SOUGHT AFTER POPLAR FALLS! OPEN FLOOR PLAN WITH SPACIOUS BEDROOMS. FORMAL LIVING ROOM OFF THE FOYER AND A FAMILY ROOM OPEN TO THE KITCHEN AT THE BACK OF THE HOME. THE KITCHEN FEATURES GRANITE COUNTERTOPS AND STAINLESS STEEL APPLIANCES. HUGE OVERSIZED PRIMARY BEDROOM. THREE ADDITIONAL SPACIOUS BEDROOMS AND ANOTHER FULL BATHROOM LOCATED ON THE SECOND FLOOR. THE MASTER BEDROOM HAS DUAL SINKS, SEPARATE SHOWER, AND TUB AND A WALK IN CLOSET.

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MARKET HIGHLIGHTS

  • #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)
  • 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)

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
Rock Chapel Elementary School Primary Regular 499 33 4
Lithonia Middle School Middle Regular 1,158 71 2
Lithonia High School High Regular 1,315 77 3

Rock Chapel Elementary School

  • Education Level: Primary
  • # of students: 499
  • # of teachers: 33
4
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
 

$223,110$272,690$247,900

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$915
Property Tax -$366
Property Insurance -$77
HOA -$25
Property Management Fees -$119
CASH FLOW
$308

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.

$247,900

PROJECTED PRICE

$1,810

PROJECTED RENT

0.73%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,444

INVESTMENT

$71,444

Down Payment
$61,975
Rehab Estimate
$5,750
Closing Costs
$3,719

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$915

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,975
Loan Amount $185,925
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$35,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,842

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,8103$1,945
$1,945
RENT COMPS ANALYSIS
  • 7721 Outcrop Pass Lithonia, GA 2
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.70
    •  
  • 7536 Poplar Falls Trail Lithonia, GA 1
    • 3 beds 3 baths ∙ 2,306 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,306 Sqft ∙ Built 2007
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.71
    •  
  • 2478 Osceola Road Lithonia, GA 3
    • 4 beds 3 baths ∙ 2,737 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,737 Sqft ∙ Built 2017
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.71
    •  
PROPERTY LISTING DETAILS
Nekisha Smith
1.404.630.5913
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6821151
Last Updated: 12/23/2020
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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