Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

325 Palm Springs Circle Fairburn, GA 30213

4 Beds 3 Baths 2,902 sqft Built 2016

$352,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $121.30
  • 2 Days on Market
  • MLS # : 6852696
  • Updated Date : 03/13/2021 at 16:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,902 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome to this move-in ready home! A picture perfect two story in the desirable Durham Lakes Community offering swim, tennis, and plenty of jogging trails. The two story entryway greets you from the moment you walk in. Main level features 5 inch bamboo hardwood floors, formal dining room with coffered ceilings, an impressive chef’s island kitchen with granite countertops. The open concept kitchen and living area with surround sound is perfect for entertaining!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30213

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30213

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171521

* 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
Evoline C. West Elementary School Primary Regular 818 56 5
Bear Creek Middle School Middle Regular 962 71 4
Creekside High School High Regular 1,635 86 4

Evoline C. West Elementary School

  • Education Level: Primary
  • # of students: 818
  • # of teachers: 56
5
GreatSchools Rating

Bear Creek Middle School

  • Education Level: Middle
  • # of students: 962
  • # of teachers: 71
4
GreatSchools Rating

Creekside High School

  • Education Level: High
  • # of students: 1,635
  • # of teachers: 86
4
GreatSchools Rating
 

$316,800$387,200$352,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,223
Property Tax -$278
Property Insurance -$83
HOA -$113
Property Management Fees -$119
CASH FLOW
$64

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.

$352,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.6%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,030

INVESTMENT

$99,030

Down Payment
$88,000
Rehab Estimate
$5,750
Closing Costs
$5,280

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,223

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,000
Loan Amount $264,000
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$13,800

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,756

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,880
$1,880
RENT COMPS ANALYSIS
  • 325 Palm Springs Circle Fairburn, GA 3
    • 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.65
    •  
  • 730 Bishop Point Fairburn, GA 1
    • 3 beds 2 baths ∙ 2,654 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,654 Sqft ∙ Built 2003
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.60
    •  
  • 1075 Winding Brook Way Fairburn, GA 2
    • 4 beds 4 baths ∙ 2,716 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,716 Sqft ∙ Built 2004
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.61
    •  
PROPERTY LISTING DETAILS
Tahlia Diaz Brown
1.404.974.9916
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6852696
Last Updated: 03/13/2021
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.

BESbswy