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111 Mitchell Way Hiram, GA 30141

3 Beds 3 Baths 2,164 sqft Built 2003

$299,999

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $138.63
  • 9 Days on Market
  • MLS # : 6840251
  • Updated Date : 02/18/2021 at 09:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,164 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome home to this spacious ranch on full basement that is situated on the largest lot in the neighborhood. Enjoy the peace and quiet of cul-de-sac living in this beautiful open floor plan. Large, secure back yard area with privacy fence is perfect for pets and children. Primary suite features a sitting room, dual closets and dual vanities in the primary bath. Luxury Laminate Tile throughout, water proof, scratch proof with a 50 year warranty.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Zip Code: 30141

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $87k209k

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

Zip Code: 30141

ZipNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500Rent in $9651509

* 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
Panter Elementary School Primary Regular 543 41 6
Dobbins Middle School Middle Regular 793 48 7
Hiram High School High Regular 1,636 80 5

Panter Elementary School

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 41
6
GreatSchools Rating

Dobbins Middle School

  • Education Level: Middle
  • # of students: 793
  • # of teachers: 48
7
GreatSchools Rating

Hiram High School

  • Education Level: High
  • # of students: 1,636
  • # of teachers: 80
5
GreatSchools Rating
 

$269,999$329,999$299,999

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,042
Property Tax -$265
Property Insurance -$69
HOA -$4
Property Management Fees -$119
CASH FLOW
$31

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.

$299,999

PROJECTED PRICE

$1,530

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.7%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $224,999
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$14,931

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,717

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,8003$1,8004$1,900
$1,900
RENT COMPS ANALYSIS
  • 111 Mitchell Way Hiram, GA 1
    • 3 beds 3 baths ∙ 2,164 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,164 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.71
    •  
  • 224 Lanier Court Hiram, GA 2
    • 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2019
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 54 Dynasty Lane Hiram, GA 3
    • 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2019
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 397 Westchester Club Drive Hiram, GA 4
    • 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 1999
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
PROPERTY LISTING DETAILS
Boyd Monk
1.404.787.0659
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6840251
Last Updated: 02/18/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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