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3089 Sweet Flag Run Austell, GA 30106

3 Beds 3 Baths 2,286 sqft Built 2000

$235,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $102.80
  • 5 Days on Market
  • MLS # : 6802783
  • Updated Date : 11/02/2020 at 09:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,286 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautifully updated home in Heather Lakes. Brand new kitchen with granite countertops and Stainless appliances. New flooring, carpet, fixture and paint throughout. Relax on the deck that overlooks the backyard which backs up to a lake!! Upstairs you'll find the spacious master with, walk -in closet, dual vanity and separate bath and shower. Home has a large, semi-finished basement waiting for your special touch.

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: Heather Lakes

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Heather Lakes

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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$867
Property Tax -$208
Property Insurance -$71
HOA -$29
Property Management Fees -$119
CASH FLOW
$106

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.

$235,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.60%

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-$2.0k$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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$16,675

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,606

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5153$1,5504$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 3089 Sweet Flag Run Austell, GA 1
    • 3 beds 3 baths ∙ 2,286 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,286 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.61
    •  
  • 4208 Brass Trail Austell, GA 2
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1999
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,515
    • $0.64
    •  
  • 3031 Brass Drive Austell, GA 3
    • 4 beds 3 baths ∙ 2,083 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,083 Sqft ∙ Built 1986
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.74
    •  
  • 2429 Wingfield Drive Austell, GA 4
    • 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2008
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
  • 2445 Wingfield Drive Austell, GA 5
    • 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 2007
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.70
    •  
PROPERTY LISTING DETAILS
Jeffrey Johnson
1.678.940.6655
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6802783
Last Updated: 11/02/2020
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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