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2950 New Macland Road Powder Springs, GA 30127

3 Beds 4 Baths 2,784 sqft Built 1996

$295,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $105.96
  • 3 Days on Market
  • MLS # : 6860154
  • Updated Date : 03/27/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,784 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Walk past your charming rocking chair front porch to your meticulously maintained, light, bright and updated 4 side brick home. Hardwood floors are on your entire main level, including the spacious bedrooms. Enjoy your private fenced in back yard as you relax on the quiet back porch, deck or on the terrace level patio. Minutes to the Silver Comet Trails and shopping. Located on.98 acres with no HOA! Newer roof and gutters, main floor HVAC and fence. Nest thermostat,large storage shed,wooden blinds. While inside this home wear a mask, use hand sanitizer & please obey all

SEE MORE

MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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)
  • 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: 30127

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $103k216k

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

Zip Code: 30127

ZipNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500Rent in $9731509

* 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
Varner Elementary School Primary Regular 685 50 8
Tapp Middle School Middle Regular 769 51 8
Mceachern High School High Regular 2,239 122 6

Varner Elementary School

  • Education Level: Primary
  • # of students: 685
  • # of teachers: 50
8
GreatSchools Rating

Tapp Middle School

  • Education Level: Middle
  • # of students: 769
  • # of teachers: 51
8
GreatSchools Rating

Mceachern High School

  • Education Level: High
  • # of students: 2,239
  • # of teachers: 122
6
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,025
Property Tax -$320
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
$395

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.

$295,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.0%
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$1.2M

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

10.83

YEARS SAVED

$49,172

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,506

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$2,800
$2,800
RENT COMPS ANALYSIS
  • 2950 New Macland Road Powder Springs, GA 1
    • 3 beds 4 baths ∙ 2,784 Sqft ∙ Built 1996 3 beds 4 baths ∙ 2,784 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.70
    •  
  • 2620 Reece Farms Trail Sw Powder Springs, GA 2
    • 4 beds 3 baths ∙ 3,115 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,115 Sqft ∙ Built 2012
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.90
    •  
PROPERTY LISTING DETAILS
Linda Lloyd
1.770.789.3894
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6860154
Last Updated: 03/27/2021
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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