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2804 Birmingham Drive Mcdonough, GA 30253

4 Beds 3 Baths 1,976 sqft Built 2019

INVESTimate

$230,000

List Price

$1,370

$1,233 - $1,507

Rent Est.

$244,927  ( +6.49%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $116.40
  • 6 Days on Market
  • MLS # : 6768313
  • Updated Date : 08/25/2020 at 15:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,976 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Closing Costs Incentives!! Preferred Lender is offering closing costs contribution, please ask your agent for the Lender's contact information! Listing Agent is providing a 1-year Termite Bond coverage too! Unreal value in Pembrooke Park! You won't find another neighborhood with 2 Pools, 2 lighted tennis courts, a massive clubhouse and pavilion for picnics close to Tanger Outlets and other shopping and plenty of restaurants! The home has been meticulously maintained!

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

Neighborhood: Pembrooke Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $81k228k

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

Neighborhood: Pembrooke Park

NeighborhoodNIR 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
Wesley Lakes Elementary School Primary Regular 530 34 4
Eagle's Landing Middle School Middle Regular 987 55 5
Eagle's Landing High School High Regular 1,226 75 5

Wesley Lakes Elementary School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 34
4
GreatSchools Rating

Eagle's Landing Middle School

  • Education Level: Middle
  • # of students: 987
  • # of teachers: 55
5
GreatSchools Rating

Eagle's Landing High School

  • Education Level: High
  • # of students: 1,226
  • # of teachers: 75
5
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$849
Property Tax -$265
Property Insurance -$63
HOA -$10
Property Management Fees -$119
CASH FLOW
$64

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$230,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.49%
Maintenance Year (1-5) 3.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,950

INVESTMENT

$62,950

Down Payment
$57,500
Rehab Estimate
$2,000
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$12,404

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
  • $0.74

    LIST RENT PER SQFT
  • $1,458

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3703$1,5354$1,5455$1,545
$1,545
RENT COMPS ANALYSIS
  • 2804 Birmingham Drive Mcdonough, 2
    • 4 beds 3 baths ∙ 1,852 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,852 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.74
    •  
  • 750 Chaseridge Drive Mcdonough, 1
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2001
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.81
    •  
  • 1816 Crandon Court Mcdonough, 3
    • 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 2016
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.76
    •  
  • 3728 Upland Drive Mcdonough, 4
    • 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 2017
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.76
    •  
  • 3708 Upland Drive Mcdonough, 5
    • 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2017
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.82
    •  
PROPERTY LISTING DETAILS
Jeni Thomas
1.404.786.7153
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6768313
Last Updated: 08/25/2020
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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