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

2533 Boulder Springs Point Ellenwood, GA 30294

3 Beds 3 Baths 1,620 sqft Built 1992

$195,900

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $120.93
  • 10 Days on Market
  • MLS # : 6828935
  • Updated Date : 01/22/2021 at 13:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,620 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful home located in Boulder Springs Subdivision. You will love the beautiful inviting foyer. The home features 3 large bedrooms with 2 1/2 baths. It also features huge eat in kitchen with plenty of cabinet space and stainless steel appliances. There is a seperate dining and family room as well as a finished basement with 1/2 bath, which would be perfect for teen suite, game room, or theatre room. Conveniently located to I-285 and I-675 and just 5 miles from Blackhall Studios. No HOA. You don't want to miss this one. Priced to sell. Agent is related to seller.

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: 30294

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30294

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171509

* 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
Cedar Grove Elementary School Primary Regular 590 38 2
Cedar Grove Middle School Middle Regular 864 51 3
Cedar Grove High School High Regular 1,014 59 4

Cedar Grove Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 38
2
GreatSchools Rating

Cedar Grove Middle School

  • Education Level: Middle
  • # of students: 864
  • # of teachers: 51
3
GreatSchools Rating

Cedar Grove High School

  • Education Level: High
  • # of students: 1,014
  • # of teachers: 59
4
GreatSchools Rating
 

$176,310$215,490$195,900

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$680
Property Tax -$280
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$232

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.

$195,900

PROJECTED PRICE

$1,370

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.2%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,664

INVESTMENT

$57,664

Down Payment
$48,975
Rehab Estimate
$5,750
Closing Costs
$2,939

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$680

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,975
Loan Amount $146,925
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$22,996

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,191

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,199
1$1,1992$1,3003$1,3704$1,3865$1,450
$1,450
RENT COMPS ANALYSIS
  • 2533 Boulder Springs Point Ellenwood, GA 3
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.85
    •  
  • 2694 Ward Lake Court Ellenwood, GA 1
    • 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2000
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $0.71
    •  
  • 3736 River Lake Shore Ellenwood, GA 2
    • 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 1991
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.72
    •  
  • 4196 Boulder Pointe Drive Ellenwood, GA 4
    • 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 1998
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,386
    • $0.75
    •  
  • 2263 Rolling Rock Drive Conley, GA 5
    • 4 beds 3 baths ∙ 1,917 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,917 Sqft ∙ Built 1983
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
PROPERTY LISTING DETAILS
Midge Floyd
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828935
Last Updated: 01/22/2021
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.

BESbswy