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3350 Anneewakee Falls Parkway Douglasville, GA 30135

3 Beds 3 Baths 1,960 sqft Built 2020

INVESTimate

$239,900

List Price

$1,650

$1,485 - $1,815

Rent Est.

$258,540  ( +7.77%)   1 YR EST. FORECAST

PROPERTY INFO

90% chance this property will be sold within the next 10 days HOT INVESTMENT
Built 2020 NEW CONSTRUCTION
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $122.40
  • 8 Days on Market
  • MLS # : 6769488
  • Updated Date : 08/20/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,960 sqft
  • Baths : 3 full
Listing Agent's Description

Lot 51-The Sherman Oaks- Modern craftsman 3 bedroom 2 bath split foyer plan features a vaulted great room, formal dining room & split bedroom design. Fabulous kitchen with white cabinets, granite counters, tile blacksplash, SS appliances. Elegant owner's retreat & master bath with tile floor, separate shower and garden tub with tile surround. Spacious secondary bedrooms and another bath complete this great home. FINISHED BONUS ROOM AND BATH IN BASEMENT! $5000 closing costs with preferred lender. **Updated photos coming soon**

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Creekview at Anneewakee Trails

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200kPrice in $100k209k

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

Neighborhood: Creekview at Anneewakee Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9311574

* 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
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,485$1,815$1,650

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$885
Property Tax -$219
Property Insurance -$65
HOA -$58
Property Management Fees -$119
CASH FLOW
$304

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$239,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.77%
Maintenance Year (1-5) 3.00%
Vacancy 7.33%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,574

INVESTMENT

$65,574

Down Payment
$59,975
Rehab Estimate
$2,000
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$49,172

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,524

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4493$1,6154$1,6505$1,765
$1,765
RENT COMPS ANALYSIS
  • 3350 Anneewakee Falls Parkway Douglasville, 4
    • 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 3903 Sitka Drive Douglasville, 1
    • 3 beds 3 baths ∙ 1,805 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,805 Sqft ∙ Built 2018
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.78
    •  
  • 3323 Lowland Drive Douglasville, 2
    • 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 2018
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.78
    •  
  • 3670 Arrowhead Place Douglasville, 3
    • 3 beds 3 baths ∙ 2,134 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,134 Sqft ∙ Built 2000
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,615
    • $0.76
    •  
  • 4595 Ferncrest Place Douglasville, 5
    • 4 beds 3 baths ∙ 2,243 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,243 Sqft ∙ Built 2004
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $0.79
    •  
PROPERTY LISTING DETAILS
Dallas Manning
1.678.939.8006
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6769488
Last Updated: 08/20/2020
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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