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3194 Woodview Drive Se Smyrna, GA 30082

3 Beds 2 Baths 1,296 sqft Built 1963

$235,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $181.33
  • 2 Days on Market
  • MLS # : 6803351
  • Updated Date : 11/02/2020 at 08:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,296 sqft
  • Baths : 2 full
Listing Agent's Description

Don't miss this adorable light-filled 1960s Bungalow nestled in a quiet neighborhood near Downtown Smyrna, shopping and restaurants. 4 sided brick, large rear deck, storage shed, carport and garage. This large lot home features beautiful hardwood floors, Updated HVAC, Newer Roof, Open kitchen, Vintage bathrooms in pristine condition, and full basement. The bright airy kitchen opens up to a private deck with beautiful greenery and private backyard. Don't miss the lower level unfinished basement with rare rear entry garage, carport and lots of room.

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: Woodmere East

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320kPrice in $79k321k

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

Neighborhood: Woodmere East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8112009

* 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
Norton Park Elementary School Primary Regular 884 69 4
Griffin Middle School Middle Regular 1,196 70 5
Campbell High School High Regular 2,509 135 5

Norton Park Elementary School

  • Education Level: Primary
  • # of students: 884
  • # of teachers: 69
4
GreatSchools Rating

Griffin Middle School

  • Education Level: Middle
  • # of students: 1,196
  • # of teachers: 70
5
GreatSchools Rating

Campbell High School

  • Education Level: High
  • # of students: 2,509
  • # of teachers: 135
5
GreatSchools Rating
 

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

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$867
Property Tax -$281
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$161

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.

$235,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.3%
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$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$14k$16k

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 40% 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

8.25

YEARS SAVED

$29,534

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,225

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$900
1$9002$1,3953$1,4454$1,4805$1,550
$1,550
RENT COMPS ANALYSIS
  • 3194 Woodview Drive Se Smyrna, GA 4
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.14
    •  
  • 970 Oakview Drive Se Smyrna, GA 1
    • 3 beds 1 baths ∙ 964 Sqft ∙ Built 1953 3 beds 1 baths ∙ 964 Sqft ∙ Built 1953
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.93
    •  
  • 2885 Lakemont Place Sw Marietta, GA 2
    • 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1974
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.98
    •  
  • 2180 Twilley Circle Sw Marietta, GA 3
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1965
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.91
    •  
  • 3588 Herren Drive Sw Smyrna, GA 5
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1956 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1956
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
PROPERTY LISTING DETAILS
Steve Matthews
1.404.786.2184
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803351
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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