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2620 The Canyons Douglasville, GA 30135

4 Beds 3 Baths 2,483 sqft Built 2015

$260,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $104.71
  • 4 Days on Market
  • MLS # : 6855759
  • Updated Date : 03/19/2021 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,483 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Large floor plan features a welcoming entry foyer with dramatic staircase, both formal living and dining rooms, as well as separate family room with fireplace and ceiling fan. Kitchen is equipped with stainless steel appliances, espresso cabinets, and granite countertops. Master bath has tile floor, dual vanities, and separate tub and shower. Move In Ready.

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

Zip Code: 30135

ZipNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200kPrice in $100k209k

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

Zip Code: 30135

ZipNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9311509

* 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
New Manchester Elementary School Primary Regular 876 48 4
Factory Shoals Middle School Middle Regular 854 47 5
New Manchester High School High Regular 1,680 95 4

New Manchester Elementary School

  • Education Level: Primary
  • # of students: 876
  • # of teachers: 48
4
GreatSchools Rating

Factory Shoals Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 47
5
GreatSchools Rating

New Manchester High School

  • Education Level: High
  • # of students: 1,680
  • # of teachers: 95
4
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$903
Property Tax -$254
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$448

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.

$260,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.8%
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

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

12.58

YEARS SAVED

$52,386

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,719

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,7453$1,8004$1,8255$1,849
$1,849
RENT COMPS ANALYSIS
  • 2620 The Canyons Douglasville, GA 3
    • 4 beds 3 baths ∙ 2,483 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,483 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.72
    •  
  • 2605 Thunder Basin Way Douglasville, GA 1
    • 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2004
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.67
    •  
  • 3133 Greymont Cloister Douglasville, GA 2
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 2004
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.71
    •  
  • 2893 Open Sky Way Douglasville, GA 4
    • 5 beds 3 baths ∙ 2,582 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,582 Sqft ∙ Built 2006
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.71
    •  
  • 3215 Thorneridge Trail Douglasville, GA 5
    • 4 beds 4 baths ∙ 2,717 Sqft ∙ Built 1996 4 beds 4 baths ∙ 2,717 Sqft ∙ Built 1996
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,849
    • $0.68
    •  
PROPERTY LISTING DETAILS
Shauntae Miles
1.404.451.6112
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6855759
Last Updated: 03/19/2021
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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