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3256 Bakewell Street Douglasville, GA 30135

3 Beds 3 Baths 1,835 sqft Built 2005

$295,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $160.76
  • 5 Days on Market
  • MLS # : 6848647
  • Updated Date : 03/05/2021 at 16:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,835 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome Home to the highly sought-after Tributary Community with it's tree lined streets and sidewalks. Nestled on a quiet street you will find this Beautiful Gem! The front porch greets you as you walk up to this Craftsman style home. Gleaming hardwood floors greet you at the front door of this spacious home and flow throughout the main level. The living area flows through to the eat-in kitchen with granite countertops and updated subway tile backsplash. Also on the main level off the kitchen is the sizeable family room with fireplace, the laundry room, a half bath

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

Neighborhood: Tributary at New Manchester

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $100k251k

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

Neighborhood: Tributary at New Manchester

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9311705

* 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
New Manchester Elementary School Primary Regular 876 48 4
Factory Shoals Middle School Middle Regular 854 47 5
New Manchester High School High Regular 1,680 95 4

New Manchester Elementary School

  • Education Level: Primary
  • # of students: 876
  • # of teachers: 48
4
GreatSchools Rating

Factory Shoals Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 47
5
GreatSchools Rating

New Manchester High School

  • Education Level: High
  • # of students: 1,680
  • # of teachers: 95
4
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,025
Property Tax -$342
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$61

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.

$295,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$15,848

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,496

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3753$1,610
$1,610
RENT COMPS ANALYSIS
  • 3256 Bakewell Street Douglasville, GA 3
    • 3 beds 3 baths ∙ 1,835 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,835 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.88
    •  
  • 3030 Pritchards Mill Trail Douglasville, GA 1
    • 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1986
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.75
    •  
  • 2255 Hunt Road Douglasville, GA 2
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1986
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.88
    •  
PROPERTY LISTING DETAILS
Pamela Stevenson
1.678.554.6105
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6848647
Last Updated: 03/05/2021
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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