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231 Norton Drive Dallas, GA 30157

3 Beds 2 Baths 1,789 sqft Built 2001

$235,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $131.36
  • 3 Days on Market
  • MLS # : 6805692
  • Updated Date : 11/07/2020 at 09:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,789 sqft
  • Baths : 2 full
Listing Agent's Description

Don't wait! This won't last - one level living on a bsmt. Almost all new flooring throughout the main level. High vaulted ceiling in living rm. Gas start fireplace. Lg casement opening to kitchen and dining area. Open kitchen with large pantry closet. Door to deck from kitchen and dining room. Master bedroom has trey ceiling and space to accommodate large furniture. Mirrored bay window in master bedroom as in living room. Large walk in closet. Separate garden tub and shower with glass door in master bath. Bsmt area offers 2 lg areas for extra living space.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30157

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $85k209k

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

Zip Code: 30157

ZipNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9251509

* 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
Nebo Elementary School Primary Regular 769 46 4
South Paulding Middle School Middle Regular 506 34 6
Paulding County High School High Regular 1,748 88 6

Nebo Elementary School

  • Education Level: Primary
  • # of students: 769
  • # of teachers: 46
4
GreatSchools Rating

South Paulding Middle School

  • Education Level: Middle
  • # of students: 506
  • # of teachers: 34
6
GreatSchools Rating

Paulding County High School

  • Education Level: High
  • # of students: 1,748
  • # of teachers: 88
6
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$867
Property Tax -$207
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$105

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.

$235,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.4%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$21,712

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,378

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3603$1,3754$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 231 Norton Drive Dallas, GA 2
    • 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.76
    •  
  • 143 Davis Mill Drive Dallas, GA 1
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1990
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.80
    •  
  • 19 Norton Drive Dallas, GA 3
    • 3 beds 3 baths ∙ 1,894 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,894 Sqft ∙ Built 2002
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.73
    •  
  • 295 Norton Drive Dallas, GA 4
    • 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
    •  
  • 65 Cricket Court Dallas, GA 5
    • 3 beds 3 baths ∙ 1,797 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,797 Sqft ∙ Built 2001
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
PROPERTY LISTING DETAILS
Rhonda Yearwood
1.770.315.7185
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805692
Last Updated: 11/07/2020
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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