Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
244 Paces Lakes Ridge 
Dallas, GA
30157
3 Beds 3 Baths 1,370 sqft
Built 1997
INVESTimate
$171,000
List Price
$51,065
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Built In 1997
- Price/Sqft : $124.82
- 2 Days on Market
- MLS # : 6771868
- Updated Date : 08/25/2020 at 19:40
CONSTRUCTION
- Beds : 3
- Floor Size : 1,370 sqft
- Baths : 3 full
Listing Agent's Description
Priced below comps! This 4 bedroom, 2 bath split foyer is ready to make your own. Exterior features large lot, generous parking, newer roof. Main level offers master suite with trey ceilings, master bath w/stand-up shower & soaking tub, walk-in closet. Secondary bedrooms with spacious closets, guest bath, kitchen with eat in breakfast, formal dining, and an open concept to family room w/factory built fireplace. Lower level offers 4th bedroom and bonus room ready to finish. Needs TLC.
SEE MORE
- #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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 30157
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,290 |
| EXPENSES | Loan Payment | -$631 |
| Property Tax | -$153 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$333
|
||
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.
$171,000
PROJECTED PRICE
$1,290
PROJECTED RENT
0.75%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.52% |
| Appreciation Year (1-5) | 9.38% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.33% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$51,065
LOAN DETAILS
$631
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $42,750 |
| Loan Amount | $128,250 |
13.5
YEARS SAVED
$43,270
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,290
LIST RENT -
$0.94
LIST RENT PER SQFT
-
$1,212
COMP ESTIMATED VALUE -
$0.89
COMP AVG. RENT PER SQFT
Comps Range
-
244 Paces Lakes Ridge Dallas, 3
- 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 1997
- Rent
- Rent Per SQFT
- $1,290
- $0.94
-
252 William Drive Dallas, 1
- 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1988
LEASED 04/01/20- Rent
- Rent Per SQFT
- $1,160
- $0.89
-
340 Tuscany Trace Dallas, 2
- 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 2001
LEASED 01/15/20- Rent
- Rent Per SQFT
- $1,249
- $0.88
PROPERTY LISTING DETAILS
1.678.663.6673
1.866.250.5610
RentVest Georgia LLC
H-75957
MLS #: 6771868
Last Updated: 08/25/2020
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.
