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PROPERTY INFO
FACTS
- Single Family
- Built In 1987
- Price/Sqft : $121.97
- 3 Days on Market
- MLS # : 6825382
- Updated Date : 01/10/2021 at 00:31
CONSTRUCTION
- Beds : 2
- Floor Size : 1,229 sqft
- Baths : 2 full
Listing Agent's Description
This top-floor, renovated condo in hot Smyrna is ready to be your new home. Light-filled, open floor plan offers a lot of space and functionality with breakfast-bar kitchen overlooking family room, separate dining area, and two large private bedrooms. Unit also boasts NEW paint throughout, NEW laminate flooring in common areas, NEW Granite countertops with trendy backsplash in kitchen, updated baths, and NEW faux-wood blinds.
SEE MORE
- #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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mill Pond Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,500 |
| EXPENSES | Loan Payment | -$521 |
| Property Tax | -$152 | |
| Property Insurance | -$51 | |
| HOA | -$315 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$343
|
||
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.
$149,900
PROJECTED PRICE
$1,500
PROJECTED RENT
1.00%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$45,474
LOAN DETAILS
$521
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $37,475 |
| Loan Amount | $112,425 |
13.58
YEARS SAVED
$32,835
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
-
1105 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
1.404.519.5017
1.866.250.5610
RentVest Georgia LLC
H-75957
MLS #: 6825382
Last Updated: 01/10/2021
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.
