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316 Richards Way Hiram, GA 30141

4 Beds 3 Baths 2,144 sqft Built 2003

$230,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $107.28
  • 4 Days on Market
  • MLS # : 6832093
  • Updated Date : 01/29/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,144 sqft
  • Baths : 3 full
Listing Agent's Description

*MULTIPLE OFFERS - SELLER TO REVIEW ON SATURDAY 1/30 AT 1PM* This home has it all! Beautifully updated! Kitchen has Granite countertops with plenty of counter space and includes a Breakfast Bar and separate Dining Area. Master Bedroom is on main level and features his-and-her walk-in closets. Master Bathroom has a double sink vanity with Quartz Countertop and soft close drawers. Master Shower is large and updated with beautiful tile.

SEE MORE

MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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)
  • #1 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Zip Code: 30141

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $87k209k

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

Zip Code: 30141

ZipNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500Rent in $9651509

* 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
Baggett Elementary School Primary Regular 695 50 6
Austin Middle School Middle Regular 877 51 7
Hiram High School High Regular 1,636 80 5

Baggett Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 50
6
GreatSchools Rating

Austin Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 51
7
GreatSchools Rating

Hiram High School

  • Education Level: High
  • # of students: 1,636
  • # of teachers: 80
5
GreatSchools Rating
 

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

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$799
Property Tax -$203
Property Insurance -$69
HOA -$19
Property Management Fees -$119
CASH FLOW
$312

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.

$230,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.7%
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

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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$38,849

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,608

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,5203$1,855
$1,855
RENT COMPS ANALYSIS
  • 316 Richards Way Hiram, GA 2
    • 4 beds 3 baths ∙ 2,144 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,144 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.71
    •  
  • 54 Brandon Woods Circle Hiram, GA 1
    • 4 beds 3 baths ∙ 1,831 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,831 Sqft ∙ Built 1993
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.71
    •  
  • 978 Crestworth Crossing Powder Springs, GA 3
    • 4 beds 3 baths ∙ 2,349 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,349 Sqft ∙ Built 1999
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,855
    • $0.79
    •  
PROPERTY LISTING DETAILS
Christy Crawford
1.404.641.2018
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6832093
Last Updated: 01/29/2021
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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