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250 Hollow Springs Drive Hiram, GA 30141

4 Beds 4 Baths 2,861 sqft Built 1998

$349,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $121.99
  • 4 Days on Market
  • MLS # : 6830940
  • Updated Date : 01/23/2021 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,861 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

This well-maintained ranch home with acreage is a must see! Cozy yet spacious floorplan features hardwoods on main, an eat-in kitchen and bonus room upstairs. Partially finished basement offers an in-law suite and plenty of storage! Spacious covered deck and back patio as well as a pool! Sale includes parcel 081801 (Hollow Springs Drive) of 20.07+/- acres with $1 optional.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)

PRICE & RENT TRENDS

Zip Code: 30141

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $87k209k

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

Zip Code: 30141

ZipNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500Rent in $9651509

* 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
Hal Hutchens Elementary School Primary Regular 799 53 6
Austin Middle School Middle Regular 877 51 7
Hiram High School High Regular 1,636 80 5

Hal Hutchens Elementary School

  • Education Level: Primary
  • # of students: 799
  • # of teachers: 53
6
GreatSchools Rating

Austin Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 51
7
GreatSchools Rating

Hiram High School

  • Education Level: High
  • # of students: 1,636
  • # of teachers: 80
5
GreatSchools Rating
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,212
Property Tax -$308
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
$218

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.

$349,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.7%
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$1.0M$1.2M$1.4M

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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,212

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$32,817

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,774

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,449
1$1,4492$1,5003$1,9354$1,940
$1,940
RENT COMPS ANALYSIS
  • 250 Hollow Springs Drive Hiram, GA 4
    • 4 beds 4 baths ∙ 2,861 Sqft ∙ Built 1998 4 beds 4 baths ∙ 2,861 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.68
    •  
  • 198 Abbington Way Douglasville, GA 1
    • 3 beds 3 baths ∙ 2,522 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,522 Sqft ∙ Built 1996
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.57
    •  
  • 393 Turnberry Drive Hiram, GA 2
    • 3 beds 4 baths ∙ 2,822 Sqft ∙ Built 1992 3 beds 4 baths ∙ 2,822 Sqft ∙ Built 1992
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.53
    •  
  • 52 Sweetwater Bridge Circle Douglasville, GA 3
    • 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 2006
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,935
    • $0.76
    •  
PROPERTY LISTING DETAILS
Kim Parmenter
1.678.462.2246
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6830940
Last Updated: 01/23/2021
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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