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PROPERTY INFO
FACTS
- Single Family
- Built In 1972
- Price/Sqft : $143.38
- 23 Days on Market
- MLS # : 6818340
- Updated Date : 12/28/2020 at 21:31
CONSTRUCTION
- Beds : 3
- Floor Size : 1,360 sqft
- Baths : 1 full , 1 half
Listing Agent's Description
Well maintained, beautiful ranch in an established, tight knit community. This home is ideal for the first time home buyer, the buyer looking to downsize. Recently renovated in each room with neutral color paint, floors, new kitchen counters and backsplash. Garage has been converted into usable living space suitable for a den, gym, family / game room, home office, salon and has its own access from the outside. Fully fenced yard, the home has a 20 x 30 basketball court with a flood light for night play. Large yard for outdoor entertaining and sporting activities.
SEE MORE
- 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)
- #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)
PRICE & RENT TRENDS
Neighborhood: Ridgeview
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ridgeview
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,140 |
| EXPENSES | Loan Payment | -$719 |
| Property Tax | -$212 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$36
|
||
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.
$195,000
PROJECTED PRICE
$1,140
PROJECTED RENT
0.58%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$57,425
LOAN DETAILS
$719
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $48,750 |
| Loan Amount | $146,250 |
5.33
YEARS SAVED
$12,724
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,140
LIST RENT -
$0.84
LIST RENT PER SQFT
-
$1,149
COMP ESTIMATED VALUE -
$0.85
COMP AVG. RENT PER SQFT
Comps Range
-
3356 Ridgecrest Drive Powder Springs, GA 1
- 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1972
![property image]()
- Rent
- Rent Per SQFT
- $1,140
- $0.84
-
2716 Aruba Drive Powder Springs, GA 2
- 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1981
![property image]()
LEASED 03/07/20- Rent
- Rent Per SQFT
- $1,195
- $0.78
-
2403 Hillboro Circle Sw Marietta, GA 3
- 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1981
![property image]()
LEASED 07/08/19- Rent
- Rent Per SQFT
- $1,210
- $0.82
-
2712 Horseshoe Creek Drive Sw Marietta, GA 4
- 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1989
![property image]()
LEASED 03/14/20- Rent
- Rent Per SQFT
- $1,250
- $0.89
-
3614 Whitfield Way Powder Springs, GA 5
- 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1986
![property image]()
LEASED 08/14/19- Rent
- Rent Per SQFT
- $1,400
- $0.89
PROPERTY LISTING DETAILS
1.770.644.0241
1.866.250.5610
RentVest Georgia LLC
H-75957
MLS #: 6818340
Last Updated: 12/28/2020
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.
