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3188 Gainer Drive Powder Springs, GA 30127

3 Beds 2 Baths 2,116 sqft Built 1994

$264,999

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $125.24
  • 3 Days on Market
  • MLS # : 6820319
  • Updated Date : 12/19/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,116 sqft
  • Baths : 2 full
Listing Agent's Description

Gorgeous three bedroom 2 1/2 bath in swimming,and tennis community. Open floor plan, fresh paint, new carpet, granite countertops, cozy fireplace, cul-de-sac. Featuring an oversize master bedroom with Jacuzzi tub and separate shower. Large back porch overlooking private fenced in backyard. Two car garage and large storage space. Convenient to everything. Top rated schools. Hillgrove High School, Lovinggood Middle School, and Dowell Elementary.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: MacLand Forest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: MacLand Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Dowell Elementary School Primary Regular 887 68 6
Lovinggood Middle School Middle Regular 1,428 75 9
Hillgrove High School High Regular 2,301 111 9

Dowell Elementary School

  • Education Level: Primary
  • # of students: 887
  • # of teachers: 68
6
GreatSchools Rating

Lovinggood Middle School

  • Education Level: Middle
  • # of students: 1,428
  • # of teachers: 75
9
GreatSchools Rating

Hillgrove High School

  • Education Level: High
  • # of students: 2,301
  • # of teachers: 111
9
GreatSchools Rating
 

$238,499$291,499$264,999

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$978
Property Tax -$312
Property Insurance -$68
HOA -$35
Property Management Fees -$119
CASH FLOW
$248

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.

$264,999

PROJECTED PRICE

$1,760

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
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$5.0k$10k$15k$20k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,749
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$40,419

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,518

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,5154$1,7005$1,760
$1,760
RENT COMPS ANALYSIS
  • 3188 Gainer Drive Powder Springs, GA 5
    • 3 beds 2 baths ∙ 2,116 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,116 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.83
    •  
  • 2699 Beaver Creek Crossing Powder Springs, GA 1
    • 4 beds 2 baths ∙ 1,928 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,928 Sqft ∙ Built 1984
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.73
    •  
  • 2808 Candler Run Sw Marietta, GA 2
    • 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1992
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.69
    •  
  • 3456 Aaron Trail Powder Springs, GA 3
    • 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1997
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,515
    • $0.71
    •  
  • 3408 N Cook Road Powder Springs, GA 4
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1995
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
PROPERTY LISTING DETAILS
Mark Spain
1.770.886.9000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6820319
Last Updated: 12/19/2020
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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