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3218 Country Walk Drive Powder Springs, GA 30127

3 Beds 2 Baths 1,397 sqft Built 1988

$225,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $161.06
  • 3 Days on Market
  • MLS # : 6806078
  • Updated Date : 11/07/2020 at 12:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,397 sqft
  • Baths : 2 full
Listing Agent's Description

Charming brick front ranch in desirable West Cobb! This adorable home has been perfectly maintained. From the welcoming entrance foyer, open floor plan and expansive windows, this home makes entertaining family and friends a dream. Easy maintenance pergo floors in foyer, kitchen and hallway and carpet in bedrooms. Perfectly positioned kitchen with view to family room and private backyard. Kitchen features Corian counters, tiled backsplash and breakfast area. Awesome master suite features trey ceiling, spacious master bath with separate tub/shower.

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: Country Walk

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Country Walk

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
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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$830
Property Tax -$244
Property Insurance -$54
HOA -$44
Property Management Fees -$119
CASH FLOW
$38

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.

$225,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.7%
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-$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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$16,071

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,069

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2753$1,330
$1,330
RENT COMPS ANALYSIS
  • 3218 Country Walk Drive Powder Springs, GA 3
    • 3 beds 2 baths ∙ 1,397 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,397 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.95
    •  
  • 3160 Kipling Drive Powder Springs, GA 1
    • 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1973
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.77
    •  
  • 5029 Paris Avenue Powder Springs, GA 2
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1969
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.76
    •  
PROPERTY LISTING DETAILS
Julie S Porter
1.770.853.8289
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6806078
Last Updated: 11/07/2020
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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