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3465 Spring Ridge Drive Douglasville, GA 30135

3 Beds 2 Baths 1,702 sqft Built 1988

$220,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $129.26
  • 4 Days on Market
  • MLS # : 6827947
  • Updated Date : 01/15/2021 at 10:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,702 sqft
  • Baths : 2 full
Listing Agent's Description

Amazing home in Douglasville with 3 Bedrooms, 2 Full Baths AND a 3 Car Garage!! Massive Eat-In Kitchen, Huge Great Room with Extended Bay Window and Stacked Stone Fireplace. Hardwoods throughout the main level. Finished basement includes a bonus room and workshop. Large CUL-DE-SAC lot. Newer Carpet, New HVAC, Septic system serviced in 2020. All Appliances Remain. Vacant and Move in Ready!!

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Neighborhood: Creekside Manor

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Creekside 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
Mount Carmel Elementary School Primary Regular 498 32 5
Chestnut Log Middle School Middle Regular 711 45 4
New Manchester High School High Regular 1,680 95 4

Mount Carmel Elementary School

  • Education Level: Primary
  • # of students: 498
  • # of teachers: 32
5
GreatSchools Rating

Chestnut Log Middle School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 45
4
GreatSchools Rating

New Manchester High School

  • Education Level: High
  • # of students: 1,680
  • # of teachers: 95
4
GreatSchools Rating
 

$198,000$242,000$220,000

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 -$764
Property Tax -$201
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$256

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.

$220,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.64%

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$800k

PROJECTED ANNUAL CASH FLOW

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

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$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$28,697

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
  • $0.82

    LIST RENT PER SQFT
  • $1,400

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3253$1,3864$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 3465 Spring Ridge Drive Douglasville, GA 4
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 3030 Pritchards Mill Trail Douglasville, GA 1
    • 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1986
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.75
    •  
  • 3100 Pritchards Ridge Drive Douglasville, GA 2
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1982
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.85
    •  
  • 2823 Aunt Pitty Pat Lane Douglasville, GA 3
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1987
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,386
    • $0.83
    •  
  • 3721 Longview Drive Douglasville, GA 5
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 2001
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
PROPERTY LISTING DETAILS
Park West Group
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6827947
Last Updated: 01/15/2021
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. © 2017 First Multiple Listing Service, Inc.

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