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$245,000

For Sale - Active
3278 Garden Glade Ln, Lithonia, GA 30038
3 Beds
3 Baths
0 Square Feet
0.00 Acres Lot
Built in 2018
For Sale - Active
Units n/a
Checked: 17 hours ago
Updated: Aug 22, 2025 at 06:15AM

Investment Summary


Monthly Cash Flow
-$393
Cap Rate
4.2%
Cash-on-Cash Return
-8.4%
Debt Coverage Ratio
0.69
Internal Rate of Return (5 years)
-4.1%

Property Description


0.00 Acres Lot
Built in 2018
For Sale - Active
Units n/a

Just 5 minutes from Stonecrest Mall, top retail stores, restaurants, and quick access to I-20, this beautifully townhome in a wonderful community has so many NEW updates! The home boasts a NEW stainless side-by-side refrigerator, NEW electric self-cleaning range, NEW quiet stainless dishwasher, NEW kitchen cabinet door handles, NEW kitchen, bathroom and shower/tub fixtures, NEW door fixtures throughout home, washer and dryer INCLUDED, and entire home is NEWly painted! The open-concept main level is designed for everyday living and entertaining, with the kitchen and dining areas flowing into a the living room and a private back patio, along with a half bathroom. Upstairs has lots of natural light with 3 bedrooms and 2 baths - the master bedroom has high ceilings and two closets (one is a walk in!), laundry closet, and each bedroom has ample closet space. Welcome to your NEW home, come see it before it's gone!

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Location


Property Details


Parking

  • Description: Garage
  • Details: Attached, Driveway, Garage, Garage Door Opener, Garage Faces Front
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 3.0

Interior Features

  • # of Stories: 2
  • Basement Description: None

Exterior Features

  • Exterior Walls Materials: Wood
  • Foundation: Brick/Mortar
  • Roof Material: Asbestos Shingle, Shingle

HOA

  • Has HOA: Yes
  • HOA Fee: $87/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Townhouse

Lot Information

  • Parcel ID: 1620301078
  • Lot Size: 0 sqft

Property Information

  • Property Type: Townhouse
  • Style: Townhouse
  • Year Built: 2018

Tax Information

  • Annual Tax: $5,174

Utilities

  • Water & Sewer: Public
  • Heating: Electric
  • Cooling: Ceiling Fan(s), Central Air, Electric

Location

  • County: De Kalb

Listing Details


Listed by:
Velera Wilson
HomeSmart
(678) 477-3144

Source:
First Multiple Listing Service (FMLS)
MLS#: 7622724
First Multiple Listing Service (FMLS)

Investment Summary


Monthly Cash Flow
-$393
Cap Rate
4.2%
Cash-on-Cash Return
-8.4%
Debt Coverage Ratio
0.69
Internal Rate of Return (5 years)
-4.1%

Purchase Details

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Purchase price:
$245,000
Amount financed:
-$196,000
Down payment:
$49,000
Closing costs:
$7,350
Rehab costs:
$0
Initial cash invested:
$56,350
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$196,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,255
Property tax:
$431
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,826

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (22%)
22%-$431-$5,174
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (4%)
4%-$87-$1,044
Total operating expenses: (51%)
51%-$1,018-$12,218

Cash Flow


Monthly Yearly
Net operating income:
$862 $10,344
Mortgage payments:
-$1,255 -$15,060
Cash flow:
$393 $4,716