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Newer Home with Limited Competition
Covington, GA 30016
Newer Home with Limited Competition
Covington, GA 30016
0.0%
Year 1 caprate$0
10 year cashflow0.00%
10 year irrDetails
- Lot size12,197
- Rentable Sq.Ft1,860
- $/Rentable Sq.Ft$145
- Monthly rent$2,145
- Safety deposit$2,145
- Estimated reserve$3,500
- Lease start2023-10-01
- Lease end2024-09-30
- HoaYes
- Flood zoneNo
COMING SOON - FIGURES SUBJECT TO CHANGE
Long-term investors stand to benefit from the following factors:
- Opportunity to increase value and rental income through renovations
- Desirable neighborhood with limited competitive rental homes
- Low going-in basis for both single family homes and rentals in a major metro
- Accessibility to employment, with the metro being home to 16 Fortune 500 companies
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Neighborhood
Niche grades and rankings use rigorously analyzed data and user opinions to assess the key aspects of this neighborhood.
Overall neighborhood score:
Covington, 30016
Cost Of Living
Good For Families
Good For Young Professionals
Housing
Jobs
Public Schools
Weather
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Financials
| Income | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
|---|---|---|---|---|---|
| Rental revenue | $25,740 | $26,770 | $27,840 | $30,112 | $36,636 |
| Vacancy | ($0) | ($1,071) | ($1,114) | ($1,204) | ($1,465) |
| Operating revenues | $25,740 | $25,699 | $26,726 | $28,908 | $35,171 |
| Expenses | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| HOA fees | ($176) | ($182) | ($187) | ($198) | ($230) |
| Insurance | ($1,788) | ($1,842) | ($1,897) | ($2,013) | ($2,334) |
| Utilities | ($151) | ($156) | ($160) | ($170) | ($197) |
| Leasing fee | ($0) | ($697) | ($725) | ($784) | ($954) |
| Property mgmt | ($0) | ($2,409) | ($2,506) | ($2,710) | ($3,297) |
| Real estate taxes | ($2,821) | ($2,906) | ($2,993) | ($3,175) | ($3,681) |
| Repairs maintenance | ($644) | ($1,338) | ($1,392) | ($1,506) | ($1,832) |
| Operating expenses | ($5,580) | ($9,530) | ($9,860) | ($10,556) | ($12,525) |
| Net Operating Income | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| Operating revenues | $0 | $0 | $0 | $0 | $0 |
| Operating expenses | $0 | $0 | $0 | $0 | $0 |
| Net operating income | $0 | $0 | $0 | $0 | $0 |
| Caprate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Other income & expenses | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| Share mgmt | ($1,360) | ($1,401) | ($1,443) | ($1,531) | ($1,775) |
| Mortgage payments | $0 | $0 | $0 | $0 | $0 |
| Other income & expenses | ($1,360) | ($1,401) | ($1,443) | ($1,531) | ($1,775) |
| Cash flow & yield | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| Cash flow | $0 | $0 | $0 | $0 | $0 |
| Cash yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Acquisition equity
| Down payment | ($270,000) | |||
|---|---|---|---|---|
| Acquisition fee | ($8,100) | |||
| Title insurance | ($2,700) | |||
| Debt costs | ||||
| Home buyer inspection | ($500) | |||
| Leasing fee | ($2,145) | |||
| Reserves | ($3,500) | |||
| Stabilization costs | ($1,464) | |||
| Total | ($288,409) | |||
Disposition proceeds
| Estimated sale price | $572,637 | |||
|---|---|---|---|---|
| Disposition fee | ($5,726) | |||
| Other disposition costs | ($11,453) | |||
| Year 10 mortgage balance | ($0) | |||
| Total | $555,458 | |||