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120 Jerry Allen Ridge Dallas, GA 30157

4 Beds 3 Baths 1,956 sqft Built 2020

INVESTimate

$234,900

List Price

$1,600

$1,440 - $1,760

Rent Est.

$256,934  ( +9.38%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $120.09
  • 9 Days on Market
  • MLS # : 6768639
  • Updated Date : 08/22/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,956 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

New construction Terra plan on a full basement. Four bedrooms, 2.5 baths in established neighborhood just outside of Dallas. Convenient to shopping, dining, Silver Comet Trail. Home features an open concept kitchen/dining/family room. Kitchen has granite counters, stained cabinets, an island with plenty of prep and storage space. Family room has a wood burning fireplace. The master suite is located upstairs and master bath has a double vanity with granite counters. Three additional bedrooms, a second bath, and laundry room are also upstairs. The home is

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MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30157

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $85k209k

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

Zip Code: 30157

ZipNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9251509

* 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
Poole Elementary School Primary Regular 407 29 6
Herschel Jones Middle School Middle Regular 737 44 5
Paulding County High School High Regular 1,748 88 6

Poole Elementary School

  • Education Level: Primary
  • # of students: 407
  • # of teachers: 29
6
GreatSchools Rating

Herschel Jones Middle School

  • Education Level: Middle
  • # of students: 737
  • # of teachers: 44
5
GreatSchools Rating

Paulding County High School

  • Education Level: High
  • # of students: 1,748
  • # of teachers: 88
6
GreatSchools Rating
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$867
Property Tax -$207
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$342

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$234,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.38%
Maintenance Year (1-5) 3.00%
Vacancy 7.33%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,249

INVESTMENT

$64,249

Down Payment
$58,725
Rehab Estimate
$2,000
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% 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 $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

12.17

YEARS SAVED

$54,099

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,560

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3703$1,5004$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 120 Jerry Allen Ridge Dallas, 5
    • 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
  • 301 Providence Road Dallas, 1
    • 4 beds 3 baths ∙ 1,729 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,729 Sqft ∙ Built 2003
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.78
    •  
  • 206 Overlook Point Dallas, 2
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2006
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.73
    •  
  • 202 Providence Drive Dallas, 3
    • 3 beds 3 baths ∙ 1,778 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,778 Sqft ∙ Built 2003
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 110 Providence Way Dallas, 4
    • 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2004
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
PROPERTY LISTING DETAILS
Penny Beam
1.404.821.6505
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6768639
Last Updated: 08/22/2020
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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