The Lithonia
Single Family
4
2.5
1985
Sqft
2005
$283,050
Purchase Price
$1,995
Rent / Mo
0%
Property Leverage
About
The Lithonia is a beautiful 4-bedroom, 2.5-bathroom home with an attached 2-car garage in Lithonia, Georgia. This newly-renovated home spans nearly 2,000 square feet. It features updated fixtures, energy-efficient appliances, brand-new flooring, spacious bedrooms, and a lovely backyard with a small cement patio with plenty of space for a grill. This property was purchased as an off-market deal with an institutional partner who had purchased the home previously and did a rehab to a professional standard. This property was previously showing a different average annual property value appreciation estimate for the last 10 and 20 years. The initial zip code appreciation data displayed was found to be too aggressive. Another in-network data firm provided additional data that better reflected the current environment . The estimated dividend figure did not change.
Tenant Leasing Process
The time needed to sign the first tenant lease is variable and can depend on several factors including seasonality and whether the property requires any sort of renovation. Historically the average time to lease has been 45 days and has ranged from a minimum of 7 days to over 90 days. For more details on each status, check out the different rental statuses here.
Rented
Rental Status
This property is eligible to start receiving dividends after its first lease is signed.
The Market
Atlanta, GA
Atlanta is the capital and the most populous city in the state of Georgia. The Atlanta-Sandy Springs-Roswell MSA has a population of over 6 million people, ranking 9th in the U.S. with Atlanta as the cultural and economic center. Atlanta has a diverse economy with a dominance in the aerospace, transportation, film, media, medical services, business services and information technology industries. Atlanta is considered a hub for air transportation with the Hartsfield-Jackson Atlanta International Airport, which is considered to have the world’s busiest passenger airport traffic and has achieved international prominence. The area has unique geography as it is located among the foothills of the Appalachian Mountains, creating rolling hills and the most dense urban tree coverage in the U.S.
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100%
Funded
1,090
Investors
$332,030
Invested