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2519 Carolyn Drive Se Smyrna, GA 30080

4 Beds 3 Baths 2,200 sqft Built 1975

$420,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $190.91
  • 3 Days on Market
  • MLS # : 6849609
  • Updated Date : 03/06/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,200 sqft
  • Baths : 3 full
Listing Agent's Description

Welcome to this beautifully-designed and thoughtfully renovated 4 bedroom 3 bath house in this sought-after neighborhood just minutes from the Braves Stadium! Walk to Truist Park for all the bars, restaurants and shops that your heart desires! Walk in through the beautiful bridge entryway to an open-living concept with a ton of natural light and an incredible kitchen w/ stainless steel appliances, newer cabinets with granite countertops, a huge pantry, upgraded light fixtures and much more.

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: Springhill

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $82k275k

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

Neighborhood: Springhill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8171991

* 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
Argyle Elementary School Primary Regular 464 44 4
Campbell Middle School Middle Regular 1,416 77 6
Campbell High School High Regular 2,509 135 5

Argyle Elementary School

  • Education Level: Primary
  • # of students: 464
  • # of teachers: 44
4
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
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,459
Property Tax -$425
Property Insurance -$70
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 17% of earned rent to cover both maintenance and periods of vacancy.

$420,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$868

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,859

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,7403$1,800
$1,800
RENT COMPS ANALYSIS
  • 2519 Carolyn Drive Se Smyrna, GA 2
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.79
    •  
  • 2540 Rolling View Drive Se Smyrna, GA 1
    • 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 1966 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 1966
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.83
    •  
  • 2480 Rolling View Drive Se Smyrna, GA 3
    • 4 beds 3 baths ∙ 2,103 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,103 Sqft ∙ Built 1966
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
PROPERTY LISTING DETAILS
Sunny Narshi
1.404.578.7653
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6849609
Last Updated: 03/06/2021
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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