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267 Mary Wallace Way Dallas, GA 30157

4 Beds 3 Baths 2,455 sqft Built 2008

$304,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $124.20
  • 3 Days on Market
  • MLS # : 6805708
  • Updated Date : 11/07/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,455 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome to this beautiful traditional brick front home nestled in cul-de-sac! Fresh paint interior and exterior, new dishwasher, new HVAC, plantation shutters and so much more! Separate dining w/kitchen open to living room! Stainless steel appliances accent this beautiful kitchen with breakfast bar! Living room boasts quaint fireplace! Upstairs features huge media room great for entertaining! Oversized master has plenty of room and master bath has separate vanities, tiled floor, separate shower and garden tub! Beautiful landscaped yard makes this home a true showplace!

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
 

$274,410$335,390$304,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,125
Property Tax -$269
Property Insurance -$75
HOA -$79
Property Management Fees -$119
CASH FLOW
$43

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.

$304,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$86,549

INVESTMENT

$86,549

Down Payment
$76,225
Rehab Estimate
$5,750
Closing Costs
$4,574

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,225
Loan Amount $228,675
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$18,239

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,792

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6353$1,6754$1,7105$1,995
$1,995
RENT COMPS ANALYSIS
  • 267 Mary Wallace Way Dallas, GA 4
    • 4 beds 3 baths ∙ 2,455 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,455 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.70
    •  
  • 351 Parkmont Way Dallas, GA 1
    • 3 beds 3 baths ∙ 2,222 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,222 Sqft ∙ Built 2007
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.67
    •  
  • 205 Maplewood Lane Acworth, GA 2
    • 4 beds 3 baths ∙ 2,307 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,307 Sqft ∙ Built 1995
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.71
    •  
  • 116 Laurelcrest Lane Dallas, GA 3
    • 3 beds 2 baths ∙ 2,207 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,207 Sqft ∙ Built 2016
    LEASED 06/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.76
    •  
  • 182 Crown Vista Way Dallas, GA 5
    • 4 beds 3 baths ∙ 2,543 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,543 Sqft ∙ Built 2015
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
PROPERTY LISTING DETAILS
Machelle Payton
1.770.856.9846
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805708
Last Updated: 11/07/2020
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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