Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1103 Mill Pond Drive Se #1103 Smyrna, GA 30082

2 Beds 2 Baths 1,229 sqft Built 1987

$140,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $113.91
  • 6 Days on Market
  • MLS # : 6824348
  • Updated Date : 01/08/2021 at 09:42
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,229 sqft
  • Baths : 2 full
Listing Agent's Description

1103 Mill Pond Drive- Welcome Home! Conveniently located 2-bedroom 2-bathroom condo minutes from The Battery, Smyrna Village and I-75 and I-285. This open concept home offers newer carpet and neutrally painted walls. The kitchen/dining area has a view to the spacious living room with fireplace and access to the back covered patio. Many updates include New Thermal Pane Windows, Hot Water Heater and Furnace (all since 2015 or later). This wonderful community is well maintained and close to shops and restaurants. Swim and Tennis, Exterior and Grounds Maintenance, Pest

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • 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 has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Mill Pond Village

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280k300k320kPrice in $52k321k

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

Neighborhood: Mill Pond Village

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
King Springs Elementary School Primary Regular 863 53 8
Griffin Middle School Middle Regular 1,196 70 5
Campbell High School High Regular 2,509 135 5

King Springs Elementary School

  • Education Level: Primary
  • # of students: 863
  • # of teachers: 53
8
GreatSchools Rating

Griffin Middle School

  • Education Level: Middle
  • # of students: 1,196
  • # of teachers: 70
5
GreatSchools Rating

Campbell High School

  • Education Level: High
  • # of students: 2,509
  • # of teachers: 135
5
GreatSchools Rating
 

$126,000$154,000$140,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$486
Property Tax -$142
Property Insurance -$51
HOA -$315
Property Management Fees -$119
CASH FLOW
$387

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.

$140,000

PROJECTED PRICE

$1,500

PROJECTED RENT

1.07%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$42,850

INVESTMENT

$42,850

Down Payment
$35,000
Rehab Estimate
$5,750
Closing Costs
$2,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$486

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $35,000
Loan Amount $105,000
See What Happens When You Reinvest Cash Flow

15

YEARS SAVED

$34,542

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,757

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$2,195
$2,195
RENT COMPS ANALYSIS
  • 1103 Mill Pond Drive Se Smyrna, GA 1
    • 2 beds 2 baths ∙ 1,229 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,229 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.22
    •  
  • 1900 Tecumseh Trail Se Smyrna, GA 2
    • 2 beds 2 baths ∙ 1,530 Sqft ∙ Built 1968 2 beds 2 baths ∙ 1,530 Sqft ∙ Built 1968
    property image
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.43
    •  
PROPERTY LISTING DETAILS
The Hester Group
1.404.495.8392
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6824348
Last Updated: 01/08/2021
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.

BESbswy