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

3311 Thornbridge Drive Powder Springs, GA 30127

3 Beds 3 Baths 1,578 sqft Built 2006

$181,900

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $115.27
  • 2 Days on Market
  • MLS # : 6803801
  • Updated Date : 11/02/2020 at 20:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,578 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Come and take a look at this Beautiful and well-maintained townhouse in the heart of Powder Springs! Entrance foyer leads to hardwood floors throughout the main which opens to dining and family room with fireplace. Kitchen features stone counters which opens to a breakfast bar. A spacious owner's suite with cathedral ceilings, spacious bath, double vanity and walk-in closet. 2 secondary bedrooms for kids, guests, office or a cultural/zen room. Laundry room conveniently located upstairs. Home is equipped with 2 Thermostats-Google Home, Vivint doorbell and Rainsoft, a

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: Carrington

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210kPrice in $97k216k

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

Neighborhood: Carrington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500Rent in $9731509

* 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
Powder Springs Elementary School Primary Regular 798 58 5
Cooper Middle School Middle Regular 899 53 8
Mceachern High School High Regular 2,239 122 6

Powder Springs Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 58
5
GreatSchools Rating

Cooper Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 53
8
GreatSchools Rating

Mceachern High School

  • Education Level: High
  • # of students: 2,239
  • # of teachers: 122
6
GreatSchools Rating
 

$163,710$200,090$181,900

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$671
Property Tax -$197
Property Insurance -$58
HOA -$96
Property Management Fees -$119
CASH FLOW
$169

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.

$181,900

PROJECTED PRICE

$1,310

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.0%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,954

INVESTMENT

$53,954

Down Payment
$45,475
Rehab Estimate
$5,750
Closing Costs
$2,729

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$671

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,475
Loan Amount $136,425
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$22,990

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,394

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3103$1,5004$1,550
$1,550
RENT COMPS ANALYSIS
  • 3311 Thornbridge Drive Powder Springs, GA 2
    • 3 beds 3 baths ∙ 1,578 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,578 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.83
    •  
  • 5249 Cherry Hill Lane Powder Springs, GA 1
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1990
    property image
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.92
    •  
  • 3423 Lochness Lane Powder Springs, GA 3
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1993
    property image
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 4868 Country Cove Way Powder Springs, GA 4
    • 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 1992
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
PROPERTY LISTING DETAILS
Donna Theodore
1.678.468.8242
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803801
Last Updated: 11/02/2020
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.

BESbswy