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90 Highland Drive Mcdonough, GA 30253

4 Beds 2 Baths 1,519 sqft Built 2001

$162,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $106.65
  • 3 Days on Market
  • MLS # : 6817722
  • Updated Date : 12/12/2020 at 22:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,519 sqft
  • Baths : 2 full
Listing Agent's Description

Lovely, Move In Ready 4 beds 2 bath Ranch style home in Henry County! Enter into the family room w/vaulted ceilings and gas fireplace. Kitchen features beautiful solid maple cabinets, pantry, and immaculate floors. Spacious Master BR with generous sized walk in closet. Master bath has tiled flooring, separate soaking tub&shower. Secondary beds generous sized w/ walk in closets. The 4th BR could be a play room, or office. Venture outside to the fenced backyard-Perfect for entertaining. Just mins from I-75, nearby shopping and restaurants. Don't miss this one!

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

Neighborhood: Meadowbrook

NeighborhoodNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $67k209k

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

Neighborhood: Meadowbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7601509

* 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
Flippen Elementary School Primary Regular 646 45 5
Eagle's Landing Middle School Middle Regular 987 55 5
Eagle's Landing High School High Regular 1,226 75 5

Flippen Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 45
5
GreatSchools Rating

Eagle's Landing Middle School

  • Education Level: Middle
  • # of students: 987
  • # of teachers: 55
5
GreatSchools Rating

Eagle's Landing High School

  • Education Level: High
  • # of students: 1,226
  • # of teachers: 75
5
GreatSchools Rating
 

$145,800$178,200$162,000

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 -$598
Property Tax -$187
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$490

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.

$162,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.90%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.5%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,680

INVESTMENT

$48,680

Down Payment
$40,500
Rehab Estimate
$5,750
Closing Costs
$2,430

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$598

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $40,500
Loan Amount $121,500
See What Happens When You Reinvest Cash Flow

15.67

YEARS SAVED

$49,722

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
  • $0.95

    LIST RENT PER SQFT
  • $1,223

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,285
1$1,2852$1,3253$1,450
$1,450
RENT COMPS ANALYSIS
  • 90 Highland Drive Mcdonough, GA 3
    • 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 112 Eagles Crest Lane Mcdonough, GA 1
    • 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 1994
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,285
    • $0.80
    •  
  • 750 Chaseridge Drive Mcdonough, GA 2
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2001
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.81
    •  
PROPERTY LISTING DETAILS
Valerie Moore
1.770.827.7318
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6817722
Last Updated: 12/12/2020
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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