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3245 Lancer Drive Powder Springs, GA 30127

3 Beds 2 Baths 1,482 sqft Built 1981

$200,000

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $134.95
  • 4 Days on Market
  • MLS # : 6846108
  • Updated Date : 02/26/2021 at 15:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,482 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Priced to sell. Located near Wild Horse Park and the Silver Comet Trail, this one level home features a level lot with 3 bedrooms and 1.5 baths in the Lancer Subdivision. The master bedroom has its own bath and the two guest bedrooms are ample size. Also included is the bonus room that could be the fourth bedroom, office or additional storage also has a fireplace. No HOA covenants or fees. A storage building is also included.

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)
  • 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 has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 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)
  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Lancer

NeighborhoodNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $70k216k

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

Neighborhood: Lancer

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
Compton Elementary School Primary Regular 583 49 4
Tapp Middle School Middle Regular 769 51 8
Mceachern High School High Regular 2,239 122 6

Compton Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 49
4
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
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$695
Property Tax -$217
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$93

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.

$200,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.0%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$11,905

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,278

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,180
1$1,1802$1,2003$1,2954$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 3245 Lancer Drive Powder Springs, GA 1
    • 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.80
    •  
  • 3660 Hopkins Court Powder Springs, GA 2
    • 3 beds 3 baths ∙ 1,320 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,320 Sqft ∙ Built 1984
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.91
    •  
  • 3543 Ten Oaks Circle Powder Springs, GA 3
    • 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1995
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.83
    •  
  • 3423 Lochness Lane Powder Springs, GA 4
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1993
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 4055 Evelyn Drive Powder Springs, GA 5
    • 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 1987
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Marsha C Floyd
1.404.372.4896
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6846108
Last Updated: 02/26/2021
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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