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2873 Melanie Lane Douglasville, GA 30135

3 Beds 2 Baths 2,100 sqft Built 1983

$219,900

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $104.71
  • 2 Days on Market
  • MLS # : 6852800
  • Updated Date : 03/13/2021 at 10:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,100 sqft
  • Baths : 2 full
Listing Agent's Description

Welcome to your new home! This 3 Bed/2 Bath home boast all the personal touches you will love. Lots of space to entertain- family room, large tiled kitchen with sun room off back, front room can be used as dining or Living room. Upstairs the master bedroom has tray ceiling and 2 large walk in closets,newly updated bathrooms, Cabinets, shelves & extra lighting are everywhere. Downstairs - and extra room, large laundry room with cabinets & a laundry chute, garage with more cabinet workspace, storage room. Convenient to interstate, shopping,and Arbor Place mall.

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

Neighborhood: Tara Woods Estates

NeighborhoodNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $64k209k

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

Neighborhood: Tara Woods Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7391509

* 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
Factory Shoals Elementary School Primary Regular 730 49 4
Chestnut Log Middle School Middle Regular 711 45 4
New Manchester High School High Regular 1,680 95 4

Factory Shoals Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 49
4
GreatSchools Rating

Chestnut Log Middle School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 45
4
GreatSchools Rating

New Manchester High School

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

$197,910$241,890$219,900

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$764
Property Tax -$201
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$119

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.

$219,900

PROJECTED PRICE

$1,270

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.8%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$14,930

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $1,407

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,4403$1,450
$1,450
RENT COMPS ANALYSIS
  • 2873 Melanie Lane Douglasville, GA 1
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.60
    •  
  • 3237 Beaver Drive Douglasville, GA 2
    • 3 beds 3 baths ∙ 2,217 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,217 Sqft ∙ Built 1986
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.65
    •  
  • 2988 Flowers Drive Douglasville, GA 3
    • 3 beds 2 baths ∙ 2,112 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,112 Sqft ∙ Built 1986
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.69
    •  
PROPERTY LISTING DETAILS
Danielle Black
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6852800
Last Updated: 03/13/2021
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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