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245 Devilla Court Fayetteville, GA 30214

3 Beds 3 Baths 1,953 sqft Built 1978

$250,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $128.01
  • 12 Days on Market
  • MLS # : 6913580
  • Updated Date : 07/13/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,953 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This cozy Fayetteville bungalow is primely located to shopping and restaurants. This Ponderosa subdivision is in a well established neighborhood. This home has a nice rocking chair front porch and private wooded backyard. Quality features inside, master bedroom on main and two bedrooms upstairs with jack and jill bathroom, with walk in closet. New carpets in bedrooms and flex room, which could be used for an office. New upstairs HVAC Unit and thermostat. ***Currently finishing probate closing may be delayed for 2 weeks***

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30214

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30214

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9592009

* 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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$868
Property Tax -$217
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$451

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.

$250,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

13.5

YEARS SAVED

$54,348

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,699

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7203$1,950
$1,950
RENT COMPS ANALYSIS
  • 245 Devilla Court Fayetteville, GA 2
    • 3 beds 3 baths ∙ 1,953 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,953 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.88
    •  
  • 195 Huntington Court Fayetteville, GA 1
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1978
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 300 Weatherly Drive Fayetteville, GA 3
    • 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 1991
    LEASED 03/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
PROPERTY LISTING DETAILS
Margie Lynn
1.404.940.9985
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6913580
Last Updated: 07/13/2021
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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