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205 Malone Circle Fairburn, GA 30213

5 Beds 3 Baths 1,475 sqft Built 1973

$285,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $193.22
  • 5 Days on Market
  • MLS # : 6835575
  • Updated Date : 02/05/2021 at 01:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,475 sqft
  • Baths : 3 full
Listing Agent's Description

Splendid well built home; centrally located, to live in or for income property; Split-level 5 bedroom 3 baths; Roof & HVAC replaced last year; In-law or Teen suite with own entry way; Recently renovated kitchens with granite tops; Nice large deck for entertaining, large area beneath deck great for DIY Project; schools on bus line; on Marta bus line; shopping areas nearby; close to major expressways; 10 minutes away for Hartsfield Jackson Atlanta Airport; 18 miles from downtown Atlanta; great community; Come see this home today!! must see to appreciate.

SEE MORE

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: 30213

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30213

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171521

* 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
Evoline C. West Elementary School Primary Regular 818 56 5
Bear Creek Middle School Middle Regular 962 71 4
Creekside High School High Regular 1,635 86 4

Evoline C. West Elementary School

  • Education Level: Primary
  • # of students: 818
  • # of teachers: 56
5
GreatSchools Rating

Bear Creek Middle School

  • Education Level: Middle
  • # of students: 962
  • # of teachers: 71
4
GreatSchools Rating

Creekside High School

  • Education Level: High
  • # of students: 1,635
  • # of teachers: 86
4
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$990
Property Tax -$225
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
-$10

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$285,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$8,831

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,269

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,380
$1,380
RENT COMPS ANALYSIS
  • 205 Malone Circle Fairburn, GA 2
    • 5 beds 3 baths ∙ 1,475 Sqft ∙ Built 1973 5 beds 3 baths ∙ 1,475 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.94
    •  
  • 610 Mary Erna Drive Fairburn, GA 1
    • 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1989
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.86
    •  
PROPERTY LISTING DETAILS
Siray Freeman
1.404.983.6713
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6835575
Last Updated: 02/05/2021
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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