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137 Nettie Lane Mcdonough, GA 30252

4 Beds 4 Baths 2,935 sqft Built 2005

$330,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $112.44
  • 4 Days on Market
  • MLS # : 6808148
  • Updated Date : 11/20/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,935 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

This lovely 2900 sq ft brick front traditional style home in the highly sought-after Ola school district includes 4 bedrooms and 3 full size bathrooms. This home incorporates high ceilings, fresh paint and brand-new hardwood floors throughout the main level. The granite kitchen countertops, and stainless-steel appliances surround a lovely breakfast table area, with lots of windows to enjoy the view of the large backyard that backs up to gorgeous farmland. The formal dining room can accommodate all your favorite dinner guests.

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)
  • 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (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)
  • #1 Most affordable big city (WalletHub, 2018)

PRICE & RENT TRENDS

Neighborhood: Keys Ferry Landing

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220kPrice in $103k225k

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

Neighborhood: Keys Ferry Landing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9731633

* 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
Rock Spring Elementary School Primary Regular 711 42 6
Ola Middle School Middle Regular 1,160 67 8
Ola High School High Regular 1,560 91 8

Rock Spring Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 42
6
GreatSchools Rating

Ola Middle School

  • Education Level: Middle
  • # of students: 1,160
  • # of teachers: 67
8
GreatSchools Rating

Ola High School

  • Education Level: High
  • # of students: 1,560
  • # of teachers: 91
8
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,218
Property Tax -$380
Property Insurance -$84
Property Management Fees -$119
CASH FLOW
$99

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.

$330,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 5.7%
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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$24,086

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,820

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,930
$1,930
RENT COMPS ANALYSIS
  • 137 Nettie Lane Mcdonough, GA 1
    • 4 beds 4 baths ∙ 2,935 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,935 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.65
    •  
  • 1519 Lincoln Terrace Mcdonough, GA 2
    • 4 beds 3 baths ∙ 3,113 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,113 Sqft ∙ Built 2004
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.62
    •  
PROPERTY LISTING DETAILS
The Joe Carbone Team
1.404.449.5547
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808148
Last Updated: 11/20/2020
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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