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3356 Ridgecrest Drive Powder Springs, GA 30127

3 Beds 2 Baths 1,360 sqft Built 1972

$195,000

List Price

$1,140

$1K - $1.3K

Rent Est.

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

MARKET HIGHLIGHTS

  • 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

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200kPrice in $61k216k

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

Neighborhood: Ridgeview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7851509

* 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
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

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

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

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
$1,140
1$1,1402$1,1953$1,2104$1,2505$1,400
$1,400
RENT COMPS ANALYSIS
  • 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
Shani C Brown
1.770.644.0241
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6818340
Last Updated: 12/28/2020
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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