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345 Hood Avenue Fayetteville, GA 30214

3 Beds 2 Baths 1,386 sqft Built 1963

$175,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

90% chance this property will be sold within the next 10 days HOT INVESTMENT
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $126.26
  • 5 Days on Market
  • MLS # : 6801471
  • Updated Date : 10/31/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,386 sqft
  • Baths : 2 full
Listing Agent's Description

Great investor opportunity in Fayetteville! Cute brick ranch with 3 bedrooms and 2 baths. Excellent footprint to create your dream home. Schedule your showing today!

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30214

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Zip Code: 30214

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9592009

* 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
Bennett's Mill Middle School Middle Regular 986 62 6
Fayette County High School High Regular 1,369 77 6

Bennett's Mill Middle School

  • Education Level: Middle
  • # of students: 986
  • # of teachers: 62
6
GreatSchools Rating

Fayette County High School

  • Education Level: High
  • # of students: 1,369
  • # of teachers: 77
6
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$646
Property Tax -$165
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$416

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.

$175,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

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$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,375

INVESTMENT

$56,375

Down Payment
$43,750
Rehab Estimate
$10,000
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

15.25

YEARS SAVED

$51,099

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,400

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,470
$1,470
RENT COMPS ANALYSIS
  • 345 Hood Avenue Fayetteville, GA 1
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.01
    •  
  • 145 Partridge Point Fayetteville, GA 2
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1977
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.01
    •  
PROPERTY LISTING DETAILS
Maggie Cook
1.770.765.6491
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6801471
Last Updated: 10/31/2020
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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