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3465 Rainbow Drive Winston, GA 30187

3 Beds 3 Baths 1,518 sqft Built 1984

$198,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $130.43
  • 4 Days on Market
  • MLS # : 6841791
  • Updated Date : 02/19/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,518 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome home to Rainbow Drive! This very clean and well maintained home includes an updated roof, HVAC, paint, flooring, kitchen, cabinets, lighting, and an oversized low maintenance lot. You'll find a half bathroom, living room, breakfast area, laundry room, garage, and kitchen (which includes extra storage and a coffee bar) on the main floor. On the second level you'll find all three bedrooms and 2 full updated bathrooms. This home could be "the one", easy to view this weekend while you have a chance.

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: Rainbow Heights

NeighborhoodNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $66k209k

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

Neighborhood: Rainbow Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7591509

* 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
Bright Star Elementary School Primary Regular 452 31 4
Mason Creek Middle School Middle Regular 868 49 5
Alexander High School High Regular 1,729 96 7

Bright Star Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 31
4
GreatSchools Rating

Mason Creek Middle School

  • Education Level: Middle
  • # of students: 868
  • # of teachers: 49
5
GreatSchools Rating

Alexander High School

  • Education Level: High
  • # of students: 1,729
  • # of teachers: 96
7
GreatSchools Rating
 

$178,200$217,800$198,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$688
Property Tax -$181
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$286

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.

$198,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.0%
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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$58,220

INVESTMENT

$58,220

Down Payment
$49,500
Rehab Estimate
$5,750
Closing Costs
$2,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$688

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,500
Loan Amount $148,500
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$35,130

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,374

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,330
1$1,3302$1,3953$1,4404$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 3465 Rainbow Drive Winston, GA 1
    • 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.88
    •  
  • 6461 Shadow Court Douglasville, GA 2
    • 4 beds 4 baths ∙ 1,650 Sqft ∙ Built 2002 4 beds 4 baths ∙ 1,650 Sqft ∙ Built 2002
    property image
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.85
    •  
  • 3419 Rainbow Drive Winston, GA 3
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1973
    property image
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.99
    •  
  • 3976 Bright Star Road Douglasville, GA 4
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1972
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 3520 Cowan Ridge Drive Winston, GA 5
    • 4 beds 3 baths ∙ 1,683 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,683 Sqft ∙ Built 2002
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.89
    •  
PROPERTY LISTING DETAILS
Victoria Jones
1.706.836.8374
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6841791
Last Updated: 02/19/2021
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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