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3261 Hopkins Road Powder Springs, GA 30127

4 Beds 2 Baths 1,700 sqft Built 1964

INVESTimate

$199,000

List Price

$1,320

$1,188 - $1,452

Rent Est.

$212,910  ( +6.99%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1964
  • Price/Sqft : $117.06
  • 9 Days on Market
  • MLS # : 6768733
  • Updated Date : 08/25/2020 at 13:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent's Description

MOVE IN READY!!!! Renovated home in Powder Springs! 4 Bedroom, 2 bath home with new roofing, HVAC, granite counters, new cabinets, tiled bath with hardwood floors. and finished basement. DO NOT MISS THIS OPPORTUNITY!

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: Allyson Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200kPrice in $64k216k

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

Neighborhood: Allyson Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7991509

* 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
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$734
Property Tax -$216
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$191

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.

$199,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.99%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$23,874

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,322

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3203$1,3754$1,4005$1,550
$1,550
RENT COMPS ANALYSIS
  • 3261 Hopkins Road Powder Springs, 2
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.78
    •  
  • 3160 Kipling Drive Powder Springs, 1
    • 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1973
    property image
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.77
    •  
  • 3180 Lancer Drive Powder Springs, 3
    • 4 beds 3 baths ∙ 1,822 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,822 Sqft ∙ Built 1979
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.75
    •  
  • 3187 Pinto Drive Powder Springs, 4
    • 4 beds 2 baths ∙ 1,732 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,732 Sqft ∙ Built 1984
    property image
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.81
    •  
  • 3940 Hubert Drive Powder Springs, 5
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1968
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
PROPERTY LISTING DETAILS
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6768733
Last Updated: 08/25/2020
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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