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2219 Millhaven Street Se Smyrna, GA 30080

3 Beds 4 Baths 1,821 sqft Built 2008

$315,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $172.98
  • 4 Days on Market
  • MLS # : 6840803
  • Updated Date : 02/19/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,821 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Beautiful brick-front townhome in great location at The Views at Park Avenue in lovely swim / tennis community. Walking distance to West Village! Only 5 miles to The Battery / Braves Stadium, close to Vinings, and a quick drive to Buckhead, Midtown, and easy drive to the airport.

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

Neighborhood: Views at Park Avenue

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k336k

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

Neighborhood: Views at Park Avenue

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9732139

* 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
Nickajack Elementary School Primary Regular 1,126 75 7
Campbell Middle School Middle Regular 1,416 77 6
Campbell High School High Regular 2,509 135 5

Nickajack Elementary School

  • Education Level: Primary
  • # of students: 1,126
  • # of teachers: 75
7
GreatSchools Rating

Campbell Middle School

  • Education Level: Middle
  • # of students: 1,416
  • # of teachers: 77
6
GreatSchools Rating

Campbell High School

  • Education Level: High
  • # of students: 2,509
  • # of teachers: 135
5
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,094
Property Tax -$355
Property Insurance -$62
HOA -$188
Property Management Fees -$119
CASH FLOW
$231

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.

$315,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.3%
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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$32,165

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,844

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$2,0003$2,0504$2,0955$2,100
$2,100
RENT COMPS ANALYSIS
  • 2219 Millhaven Street Se Smyrna, GA 3
    • 3 beds 4 baths ∙ 1,821 Sqft ∙ Built 2008 3 beds 4 baths ∙ 1,821 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.13
    •  
  • 1738 Graywood Drive Se Mableton, GA 1
    • 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2001
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 2169 Berryhill Circle Se Smyrna, GA 2
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 1996
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
  • 1159 Rhyne Chase Se Smyrna, GA 4
    • 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1999
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.02
    •  
  • 2159 Berryhill Circle Smyrna, GA 5
    • 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 1996
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.16
    •  
PROPERTY LISTING DETAILS
Celeste Murray
1.470.363.4574
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6840803
Last Updated: 02/19/2021
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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