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1005 Creekdale Drive Clarkston, GA 30021

3 Beds 2 Baths 1,349 sqft Built 1962

$235,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $174.20
  • 4 Days on Market
  • MLS # : 6806925
  • Updated Date : 11/13/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,349 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Welcome home to this beautiful 3 bed, 1.5 bath Ranch in the Clarkston Neighborhood! Enjoy the bright and updated kitchen, complete with granite countertops, stainless steel appliances and island. Make your way into the spacious dining room, complete with modern barn doors and plenty of light. This home features beautiful hardwood floors, large windows updated bathrooms, and a bonus room. Enjoy your corner lot, with spacious front and back yards. Privacy and beauty surround you with mature trees, and an expansive covered back deck. This home won’t last long,

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Scottdale

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $83k209k

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

Neighborhood: Scottdale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8321509

* 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
Mclendon Elementary School Primary Regular 393 32 3
Druid Hills Middle School Middle Regular 902 67 6
Druid Hills High School High Regular 1,386 88 5

Mclendon Elementary School

  • Education Level: Primary
  • # of students: 393
  • # of teachers: 32
3
GreatSchools Rating

Druid Hills Middle School

  • Education Level: Middle
  • # of students: 902
  • # of teachers: 67
6
GreatSchools Rating

Druid Hills High School

  • Education Level: High
  • # of students: 1,386
  • # of teachers: 88
5
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$867
Property Tax -$322
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$59

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.

$235,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$15,479

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,196

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,4003$1,4204$1,500
$1,500
RENT COMPS ANALYSIS
  • 1005 Creekdale Drive Clarkston, GA 3
    • 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.05
    •  
  • 3743 Poplar Drive Clarkston, GA 1
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1949
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.78
    •  
  • 244 Forest Glen Circle Avondale Estates, GA 2
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1963 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1963
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 3174 Vine Circle Decatur, GA 4
    • 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 1959
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.98
    •  
PROPERTY LISTING DETAILS
Stacy Sugarman
1.770.873.7718
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6806925
Last Updated: 11/13/2020
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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