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210 Miracle Lane Fayetteville, GA 30215

5 Beds 4 Baths 2,691 sqft Built 2006

$335,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $124.49
  • 6 Days on Market
  • MLS # : 6841008
  • Updated Date : 02/20/2021 at 18:52
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,691 sqft
  • Baths : 4 full
Listing Agent's Description

Enjoy a beautiful entrance leading to an open floor plan designed for the best in entertainment and daily function. New carpet and fresh paint. Family room features a fireplace and sweeping high ceilings. Spacious kitchen with granite countertops, island, and built-in desk area. Ample space with 5 bedrooms, including a finished basement with additional living space. Expansive master with remodeled bathroom. Hookup for washer and dryer, water connection, and surround sound in basement. Large wooded backyard with deck for entertaining.

SEE MORE

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: 30215

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30215

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,164
Property Tax -$338
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
$431

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.

$335,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.5%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

11.42

YEARS SAVED

$58,336

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,964

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,130
1$2,1302$2,190
$2,190
RENT COMPS ANALYSIS
  • 210 Miracle Lane Fayetteville, GA 1
    • 5 beds 4 baths ∙ 2,691 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,691 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.79
    •  
  • 440 Dickson Springs Road Fayetteville, GA 2
    • 5 beds 3 baths ∙ 2,999 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,999 Sqft ∙ Built 2013
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.73
    •  
PROPERTY LISTING DETAILS
Teka Walker
1.770.595.3558
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6841008
Last Updated: 02/20/2021
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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