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2872 Betula Drive Austell, GA 30106

3 Beds 3 Baths 1,673 sqft Built 1993

$187,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $111.78
  • 7 Days on Market
  • MLS # : 6792814
  • Updated Date : 10/30/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,673 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Seller is offering Home Warranty and $5,000.00 Buyer assist for (Paint, Carpet, Upgrades and Cosmetic Repairs) at Closing.

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: Ewing Down

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $78k209k

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

Neighborhood: Ewing Down

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
Clarkdale Elementary School Primary Regular 688 44 5
Cooper Middle School Middle Regular 899 53 8
South Cobb High School High Regular 2,074 106 4

Clarkdale Elementary School

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 44
5
GreatSchools Rating

Cooper Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 53
8
GreatSchools Rating

South Cobb High School

  • Education Level: High
  • # of students: 2,074
  • # of teachers: 106
4
GreatSchools Rating
 

$168,300$205,700$187,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$690
Property Tax -$165
Property Insurance -$60
HOA -$13
Property Management Fees -$119
CASH FLOW
$444

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.

$187,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.0%
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$14k$16k$18k

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$55,305

INVESTMENT

$55,305

Down Payment
$46,750
Rehab Estimate
$5,750
Closing Costs
$2,805

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$690

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,750
Loan Amount $140,250
See What Happens When You Reinvest Cash Flow

14

YEARS SAVED

$50,449

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,483

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4903$1,5954$1,675
$1,675
RENT COMPS ANALYSIS
  • 2872 Betula Drive Austell, GA 2
    • 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.89
    •  
  • 4020 Sharon Woods Drive Powder Springs, GA 1
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1989
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.92
    •  
  • 3324 Lynne Road Powder Springs, GA 3
    • 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 2013
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 4212 Arrowhead Pointe Austell, GA 4
    • 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1999
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.85
    •  
PROPERTY LISTING DETAILS
Ishmael Abdul Salaam
1.678.788.5830
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6792814
Last Updated: 10/30/2020
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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