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3332 Hobbit Glen Powder Springs, GA 30127

4 Beds 3 Baths 2,519 sqft Built 1995

INVESTimate

$255,000

List Price

$1,620

$1,458 - $1,782

Rent Est.

$272,825  ( +6.99%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $101.23
  • 6 Days on Market
  • MLS # : 6770583
  • Updated Date : 08/24/2020 at 10:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,519 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This neighborhood signature home sparkles with extras at every turn. Sellers recently renovated this two-story design with, a new kitchen, new baths, new paint throughout, updated light fixtures, brand new LVP flooring with a 25-year warranty and so much more. Enter into the wide entrance foyer of the spacious home with a large formal living room Separate dining room next to the living room is large enough to seat 12. The upgraded and spacious kitchen offers beautiful stone counter tops, custom tile backsplash and tons of cabinet space. The open counter doubles

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: Legend Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $103k321k

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

Neighborhood: Legend Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Varner Elementary School Primary Regular 685 50 8
Tapp Middle School Middle Regular 769 51 8
Mceachern High School High Regular 2,239 122 6

Varner Elementary School

  • Education Level: Primary
  • # of students: 685
  • # of teachers: 50
8
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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$941
Property Tax -$277
Property Insurance -$76
HOA -$15
Property Management Fees -$119
CASH FLOW
$193

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.

$255,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.99%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$33,959

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,721

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,6204$1,850
$1,850
RENT COMPS ANALYSIS
  • 3332 Hobbit Glen Powder Springs, 3
    • 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.64
    •  
  • 3395 Lochness Lane Powder Springs, 1
    • 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 1994
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.69
    •  
  • 4268 Akins Ridge Lane Powder Springs, 2
    • 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1999
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.69
    •  
  • 3912 Teal Circle Powder Springs, 4
    • 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 2007
    LEASED 04/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.67
    •  
PROPERTY LISTING DETAILS
Cheri Davis
1.404.697.3205
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770583
Last Updated: 08/24/2020
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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