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142 Mcclung Road Hiram, GA 30141

4 Beds 2 Baths 2,088 sqft Built 1986

$259,700

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $124.38
  • 90 Days on Market
  • MLS # : 6811389
  • Updated Date : 03/03/2021 at 15:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,088 sqft
  • Baths : 2 full
Listing Agent's Description

Property is in process of being removed from market per seller's request. No showings.

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
 

$233,730$285,670$259,700

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$902
Property Tax -$229
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$142

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.

$259,700

PROJECTED PRICE

$1,460

PROJECTED RENT

0.56%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$74,571

INVESTMENT

$74,571

Down Payment
$64,925
Rehab Estimate
$5,750
Closing Costs
$3,896

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$902

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,925
Loan Amount $194,775
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$22,411

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,552

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4603$1,5004$1,800
$1,800
RENT COMPS ANALYSIS
  • 142 Mcclung Road Hiram, GA 2
    • 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.70
    •  
  • 349 Victorian Circle Dallas, GA 1
    • 3 beds 3 baths ∙ 1,838 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,838 Sqft ∙ Built 1996
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.76
    •  
  • 295 Norton Drive Dallas, GA 3
    • 3 beds 3 baths ∙ 2,088 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,088 Sqft ∙ Built 2001
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.72
    •  
  • 604 Victorian Circle Dallas, GA 4
    • 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 1999
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
PROPERTY LISTING DETAILS
Brandon Bramlett
1.770.871.6031
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6811389
Last Updated: 03/03/2021
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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