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857 Orris Lane Sw Mableton, GA 30126

3 Beds 2 Baths 1,236 sqft Built 1962

$239,000

List Price

$1,070

$963 - $1.2K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $193.37
  • 5 Days on Market
  • MLS # : 6819644
  • Updated Date : 12/17/2020 at 11:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,236 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Four sided brick ranch on large lot with detached garage and separate workshop. 3 bedrooms with 1.5 bathrooms feature hardwood floors, tile and water purification system. Kitchen is spacious and open to both the living room and separate keeping room/den with fireplace. Large corner lot provides plenty of privacy and room for a pool or space to play. Separate side gate for workshop and garage. Additional parking is available under the carport. Side patio off the kitchen would be ideal for fire pit or grilling area. Wonderful location close to schools, shopping and parks.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Clayberg Manor

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $51k231k

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

Neighborhood: Clayberg Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6781561

* 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
Clay Elementary School Primary Regular 384 33 4
Lindley Middle School Middle Regular 1,166 65 4
Pebblebrook High School High Regular 2,289 120 3

Clay Elementary School

  • Education Level: Primary
  • # of students: 384
  • # of teachers: 33
4
GreatSchools Rating

Lindley Middle School

  • Education Level: Middle
  • # of students: 1,166
  • # of teachers: 65
4
GreatSchools Rating

Pebblebrook High School

  • Education Level: High
  • # of students: 2,289
  • # of teachers: 120
3
GreatSchools Rating
 

$215,100$262,900$239,000

PURCHASE PRICE

$963$1,177$1,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,070
EXPENSES Loan Payment -$882
Property Tax -$211
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$193

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.

$239,000

PROJECTED PRICE

$1,070

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.9%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,077

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,070

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,072

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,0703$1,1754$1,2135$1,275
$1,275
RENT COMPS ANALYSIS
  • 857 Orris Lane Sw Mableton, GA 2
    • 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,070
    • $0.87
    •  
  • 290 Stroud Drive Se Mableton, GA 1
    • 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1958
    property image
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.89
    •  
  • 1911 Silver Creek Drive Austell, GA 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1964
    property image
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.87
    •  
  • 361 Gordon Valley Lane Sw Mableton, GA 4
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1980
    property image
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,213
    • $0.82
    •  
  • 6717 Rioca Circle Se Mableton, GA 5
    • 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1969
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.89
    •  
PROPERTY LISTING DETAILS
Lindsey Gravitt
1.770.597.4677
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6819644
Last Updated: 12/17/2020
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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