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138 Morgan Lake Lane Dallas, GA 30157

3 Beds 3 Baths 2,231 sqft Built 2006

$299,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $134.42
  • 57 Days on Market
  • MLS # : 6800590
  • Updated Date : 12/15/2020 at 20:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,231 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Gorgeous home in South Paulding! Great living space on main with two story foyer, separate dining room, spacious eat in kitchen with granite and tile backsplash and open and bright living room with fireplace. The master bedroom is a true retreat with a large sitting room and spa master bath. The master closet is a perfect ten! Spacious secondary bedrooms and secondary bath. The enclosed back porch overlooks the private and fenced backyard. Don't miss out on this one!

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

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
New Georgia Elementary School Primary Regular 344 24 5
Scoggins Middle School Middle Regular 695 44 6
South Paulding High School High Regular 1,774 84 6

New Georgia Elementary School

  • Education Level: Primary
  • # of students: 344
  • # of teachers: 24
5
GreatSchools Rating

Scoggins Middle School

  • Education Level: Middle
  • # of students: 695
  • # of teachers: 44
6
GreatSchools Rating

South Paulding High School

  • Education Level: High
  • # of students: 1,774
  • # of teachers: 84
6
GreatSchools Rating
 

$269,910$329,890$299,900

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 -$70
HOA -$15
Property Management Fees -$119
CASH FLOW
$20

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.

$299,900

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) 9.4%
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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$13,881

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
  • $0.69

    LIST RENT PER SQFT
  • $1,383

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,175
1$1,1752$1,4993$1,530
$1,530
RENT COMPS ANALYSIS
  • 138 Morgan Lake Lane Dallas, GA 3
    • 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.69
    •  
  • 390 Princeton Drive Dallas, GA 1
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 2001
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.56
    •  
  • 62 Legend Creek Way Douglasville, GA 2
    • 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 2004
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.68
    •  
PROPERTY LISTING DETAILS
Stephanie Shelton
1.770.318.1920
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6800590
Last Updated: 12/15/2020
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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