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990 Old Greystone Drive Lithonia, GA 30058

4 Beds 3 Baths 2,306 sqft Built 1989

$214,900

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $93.19
  • 2 Days on Market
  • MLS # : 6803704
  • Updated Date : 11/02/2020 at 18:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,306 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Don't miss this two story home in Greystone! This home has been refreshed with new interior two-tone paint and new carpet. Formal livng and dining rooms flank the foyer with a family room and sun room at the back of the home. The eat in kitchen features new Quartz countertops and new stainless steel appliances. Half bathroom on the main floor for guests' convenience. The primary suite, three additional bedrooms and a full bathroom as well as the laundry located on the second floor. The primary ensuite bathroom has dual sinks, separate shower and tub, and a walk in

SEE MORE

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
Princeton Elementary School Primary Regular 924 53 2
Stephenson Middle School Middle Regular 1,006 58 4
Stephenson High School High Regular 1,599 84 4

Princeton Elementary School

  • Education Level: Primary
  • # of students: 924
  • # of teachers: 53
2
GreatSchools Rating

Stephenson Middle School

  • Education Level: Middle
  • # of students: 1,006
  • # of teachers: 58
4
GreatSchools Rating

Stephenson High School

  • Education Level: High
  • # of students: 1,599
  • # of teachers: 84
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$793
Property Tax -$311
Property Insurance -$72
HOA -$35
Property Management Fees -$119
CASH FLOW
$250

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

$1,580

PROJECTED RENT

0.74%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$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 35% 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

8.42

YEARS SAVED

$27,811

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5653$1,5804$1,5955$1,850
$1,850
RENT COMPS ANALYSIS
  • 990 Old Greystone Drive Lithonia, GA 3
    • 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.69
    •  
  • 7162 Mill Arbor Court Lithonia, GA 1
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2004
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.67
    •  
  • 1422 Alice Avenue Lithonia, GA 2
    • 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 2004
    LEASED 05/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.71
    •  
  • 670 Fair Harbor Drive Lithonia, GA 4
    • 3 beds 3 baths ∙ 2,161 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,161 Sqft ∙ Built 1987
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.74
    •  
  • 719 Stonemill Manor Lithonia, GA 5
    • 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1994
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
PROPERTY LISTING DETAILS
Jacqueline Shaffer
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803704
Last Updated: 11/02/2020
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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