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948 Ross Place Lilburn, GA 30087

4 Beds 3 Baths 2,692 sqft Built 1979

$270,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $100.30
  • 4 Days on Market
  • MLS # : 6812925
  • Updated Date : 11/26/2020 at 23:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,692 sqft
  • Baths : 3 full
Listing Agent's Description

All offers due by Sunday at 5 PM!! Come see this wonderful Family home. Great bones in this 4BR/3BA almost 2700 sf home in Parkview School District!! You won't believer how huge the kitchen is with a large breakfast area. You can now host Christmas at your home with the large Separate Dining room that is connected to the family room!! Wood beams in VAULTED Family Room with real brick fireplace!! Extra high base boards in Family Room!! Fun sun room off of master with tons of light!! Fenced yard for all of your pets!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Mountain Park

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $89k321k

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

Neighborhood: Mountain Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9082009

* 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
Camp Creek Elementary School Primary Regular 975 69 9
Trickum Middle School Middle Regular 1,987 108 8
Parkview High School High Regular 2,834 152 8

Camp Creek Elementary School

  • Education Level: Primary
  • # of students: 975
  • # of teachers: 69
9
GreatSchools Rating

Trickum Middle School

  • Education Level: Middle
  • # of students: 1,987
  • # of teachers: 108
8
GreatSchools Rating

Parkview High School

  • Education Level: High
  • # of students: 2,834
  • # of teachers: 152
8
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$996
Property Tax -$289
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
$197

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$270,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
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$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$35,583

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,817

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,7003$1,900
$1,900
RENT COMPS ANALYSIS
  • 948 Ross Place Lilburn, GA 1
    • 4 beds 3 baths ∙ 2,692 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,692 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.62
    •  
  • 399 Wayward Wind Drive Sw Lilburn, GA 2
    • 3 beds 2 baths ∙ 2,400 Sqft ∙ Built 1972 3 beds 2 baths ∙ 2,400 Sqft ∙ Built 1972
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.71
    •  
  • 1651 Howell Highlands Drive Stone Mountain, GA 3
    • 4 beds 3 baths ∙ 2,976 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,976 Sqft ∙ Built 1979
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.64
    •  
PROPERTY LISTING DETAILS
Jim Stewart
1.678.908.8000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6812925
Last Updated: 11/26/2020
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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