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160 Devilla Trace Fayetteville, GA 30214

3 Beds 2 Baths 1,835 sqft Built 1977

$255,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $138.96
  • 11 Days on Market
  • MLS # : 6825551
  • Updated Date : 01/09/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,835 sqft
  • Baths : 2 full
Listing Agent's Description

Check out this beautiful ranch home on a partially finished basement. This home has so much character and charm. The main level features a great room with a fireplace, vaulted ceilings, and skyline window, formal dining room, formal sitting room, updated kitchen with granite countertops, and large island with cooktop. The home has large master bedroom with tiled bath/shower combo. There are also two secondary bedrooms and a full bath on the main floor. The partially finished basement features media room, utility room/workshop, and 2 car garage. There is a wonderful scre

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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: 30214

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30214

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9592009

* 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
Spring Hill Elementary School Primary Regular 696 48 8
Bennett's Mill Middle School Middle Regular 986 62 6
Fayette County High School High Regular 1,369 77 6

Spring Hill Elementary School

  • Education Level: Primary
  • # of students: 696
  • # of teachers: 48
8
GreatSchools Rating

Bennett's Mill Middle School

  • Education Level: Middle
  • # of students: 986
  • # of teachers: 62
6
GreatSchools Rating

Fayette County High School

  • Education Level: High
  • # of students: 1,369
  • # of teachers: 77
6
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$886
Property Tax -$221
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$412

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.

$255,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

12.67

YEARS SAVED

$51,886

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,679

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,605
1$1,6052$1,6503$1,700
$1,700
RENT COMPS ANALYSIS
  • 160 Devilla Trace Fayetteville, GA 3
    • 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
  • 145 Valley Brook Trail Jonesboro, GA 1
    • 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1987
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,605
    • $0.94
    •  
  • 195 Huntington Court Fayetteville, GA 2
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1978
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
PROPERTY LISTING DETAILS
Courtney Maddox
1.770.820.9755
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6825551
Last Updated: 01/09/2021
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. © 2017 First Multiple Listing Service, Inc.

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