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3386 Conley Downs Drive Powder Springs, GA 30127

4 Beds 3 Baths 2,531 sqft Built 1993

$299,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $118.49
  • 3 Days on Market
  • MLS # : 6831215
  • Updated Date : 01/23/2021 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,531 sqft
  • Baths : 3 full
Listing Agent's Description

This is it! Bright, open, spacious floorplan with charm and character. Cathedral ceilings welcome you through the front door to the family room complete with fireplace. The kitchen has ample tile countertop space and overlooks the family room and POOL in the backyard. Owners suite includes tray ceiling and separate tub and shower. Two additional bedrooms and a bathroom are on this level.

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Neighborhood: Conley Downs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $112k321k

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

Neighborhood: Conley Downs

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
Still Elementary School Primary Regular 770 70 8
Lovinggood Middle School Middle Regular 1,428 75 9
Hillgrove High School High Regular 2,301 111 9

Still Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 70
8
GreatSchools Rating

Lovinggood Middle School

  • Education Level: Middle
  • # of students: 1,428
  • # of teachers: 75
9
GreatSchools Rating

Hillgrove High School

  • Education Level: High
  • # of students: 2,301
  • # of teachers: 111
9
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,042
Property Tax -$325
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
$228

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.

$299,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$34,655

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,932

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7904$2,290
$2,290
RENT COMPS ANALYSIS
  • 3386 Conley Downs Drive Powder Springs, GA 3
    • 4 beds 3 baths ∙ 2,531 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,531 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.71
    •  
  • 1019 Brookton Square Powder Springs, GA 1
    • 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1996
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 3408 N Cook Road Powder Springs, GA 2
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1995
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 2281 Sw Camden Drive Marietta, GA 4
    • 4 beds 3 baths ∙ 2,810 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,810 Sqft ∙ Built 1994
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.81
    •  
PROPERTY LISTING DETAILS
Mary Mcmath
1.770.367.6555
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831215
Last Updated: 01/23/2021
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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