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254 Berkeley Way Dallas, GA 30157

3 Beds 3 Baths 2,974 sqft Built 1994

$300,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $100.87
  • 3 Days on Market
  • MLS # : 6803282
  • Updated Date : 11/02/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,974 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Stunningly renovated home with a massive finished basement, featuring new fully zoned heating/air, new paint, new Luxury Vinyl Plank flooring throughout, located very close to the Cobb/Paulding line near Due West Rd and Highway 92. Main level features new open concept kitchen/living/dining w/ additional separate den. Remodeled kitchen with new granite countertops, oversized island with bar seating, and tons of cabinet space. Master suite with his/hers closets, separate vanities. Wrap around front porch. Fenced in backyard w/ large storage shed. No HOA!

SEE MORE

MARKET HIGHLIGHTS

  • #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

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $85k209k

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

Zip Code: 30157

ZipNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9251509

* 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
Russom Elementary School Primary Regular 814 53 8
East Paulding Middle School Middle Regular 841 50 7
North Paulding High School High Regular 2,034 91 7

Russom Elementary School

  • Education Level: Primary
  • # of students: 814
  • # of teachers: 53
8
GreatSchools Rating

East Paulding Middle School

  • Education Level: Middle
  • # of students: 841
  • # of teachers: 50
7
GreatSchools Rating

North Paulding High School

  • Education Level: High
  • # of students: 2,034
  • # of teachers: 91
7
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,107
Property Tax -$265
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
$275

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.

$300,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$43,781

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,943

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7953$1,8504$2,200
$2,200
RENT COMPS ANALYSIS
  • 254 Berkeley Way Dallas, GA 3
    • 3 beds 3 baths ∙ 2,974 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,974 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.62
    •  
  • 304 Hickory Creek Lane Acworth, GA 1
    • 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 2005
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.63
    •  
  • 218 Hickory Branch Drive Acworth, GA 2
    • 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 2004
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.65
    •  
  • 6009 Fords Lake Court Nw Acworth, GA 4
    • 4 beds 3 baths ∙ 3,259 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,259 Sqft ∙ Built 1997
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.68
    •  
PROPERTY LISTING DETAILS
Chris Burrow
1.678.564.9031
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803282
Last Updated: 11/02/2020
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. © 2017 First Multiple Listing Service, Inc.

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