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3374 Cheoah Drive Douglasville, GA 30135

3 Beds 2 Baths 1,344 sqft Built 1969

$224,900

List Price

$1,120

$1K - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $167.34
  • 5 Days on Market
  • MLS # : 6851924
  • Updated Date : 03/11/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 2 full
Listing Agent's Description

VACATION WITHOUT WORRYING ABOUT COVID IN YOUR BACK YARD! Completely remodeled ranch home convenient to shopping, fine restaurants, and grocery stores. This home features a new upgraded kitchen with 42 inch cabinets, granite countertops, upgraded stainless steel appliances and more. Home is move in ready with new windows, bathrooms, flooring, paint, lighting fixtures, plumbing fixtures etc. A new high-efficiency HVAC unit just installed for years of service to come. These homes do not last long around here!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Cherokee Manor

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $75k209k

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

Neighborhood: Cherokee Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171509

* 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
Arbor Station Elementary School Primary Regular 601 36 6
Yeager Middle School Middle Regular 536 34 4
Chapel Hill High School High Regular 1,253 70 6

Arbor Station Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 36
6
GreatSchools Rating

Yeager Middle School

  • Education Level: Middle
  • # of students: 536
  • # of teachers: 34
4
GreatSchools Rating

Chapel Hill High School

  • Education Level: High
  • # of students: 1,253
  • # of teachers: 70
6
GreatSchools Rating
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$781
Property Tax -$205
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
-$39

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$224,900

PROJECTED PRICE

$1,120

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$781

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$5,062

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,120

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,038

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,120
1$1,1202$1,2003$1,2184$1,2295$1,300
$1,300
RENT COMPS ANALYSIS
  • 3374 Cheoah Drive Douglasville, GA 1
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,120
    • $0.83
    •  
  • 4982 Ailene Drive Douglasville, GA 2
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1973
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.75
    •  
  • 3930 Cheoah Drive Douglasville, GA 3
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1973
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,218
    • $0.80
    •  
  • 6335 Garnet Drive Douglasville, GA 4
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1971
    property image
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,229
    • $0.75
    •  
  • 6701 Live Oak Lane Douglasville, GA 5
    • 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 1978
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.79
    •  
PROPERTY LISTING DETAILS
Jerry Slay
1.678.618.8935
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6851924
Last Updated: 03/11/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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