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3707 Paces Park Circle Se Smyrna, GA 30080

3 Beds 3 Baths 2,451 sqft Built 2005

$475,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $193.80
  • 2 Days on Market
  • MLS # : 6852625
  • Updated Date : 03/13/2021 at 13:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,451 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

OUTSTANDING HOME IN A FANTASTIC LOCATION!!! This Exceptional Home Boasts Extensive Moldings Throughout; Vaulted and Coffered High Ceilings; Handsome Hardwood Floors; Oversized Rooms, ESPECIALLY the GORGEOUS HUGE OWNER'S SUITE with Sitting Area, Ensuite with Vaulted Ceiling, Soaking Tub, Separate Vanities, and Custom Elfa Walk-In Closet; a Well Appointed Kitchen with Island Overlooking the Marvelous Great Room with Fireplace and Custom Bookshelves; a Custom Stone Outdoor Kitchen with Lion SS Grill with Several Cooking Accessories and Ice Bin and TN Premium Stone with

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: Paces High Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k491k

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

Neighborhood: Paces High Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9732926

* 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
Teasley Primary School Primary Unknown 761 51 8
Campbell Middle School Middle Regular 1,416 77 6
Campbell High School High Regular 2,509 135 5

Teasley Primary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 51
8
GreatSchools Rating

Campbell Middle School

  • Education Level: Middle
  • # of students: 1,416
  • # of teachers: 77
6
GreatSchools Rating

Campbell High School

  • Education Level: High
  • # of students: 2,509
  • # of teachers: 135
5
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,650
Property Tax -$544
Property Insurance -$75
HOA -$54
Property Management Fees -$119
CASH FLOW
-$2

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.

$475,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.5%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$21,250

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,616

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4403$2,5004$2,5505$2,750
$2,750
RENT COMPS ANALYSIS
  • 3707 Paces Park Circle Se Smyrna, GA 2
    • 3 beds 3 baths ∙ 2,451 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,451 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.00
    •  
  • 4561 Chelton Court Se Smyrna, GA 1
    • 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 1998
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.04
    •  
  • 1858 Fox Chapel Drive Se Smyrna, GA 3
    • 3 beds 3 baths ∙ 2,561 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,561 Sqft ∙ Built 1999
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
  • 3705 Paces Park Circle Se Smyrna, GA 4
    • 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 2004
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.10
    •  
  • 2376 Oakwood Way Se Smyrna, GA 5
    • 3 beds 3 baths ∙ 2,395 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,395 Sqft ∙ Built 1987
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.15
    •  
PROPERTY LISTING DETAILS
Tommie Storer
1.678.517.5575
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6852625
Last Updated: 03/13/2021
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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