Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3716 Big Springs Road Decatur, GA 30034

4 Beds 3 Baths 2,012 sqft Built 1977

$175,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $86.98
  • 2 Days on Market
  • MLS # : 6816024
  • Updated Date : 12/05/2020 at 18:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,012 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

AMAZING INVESTOR OPPORTUNITY in the wonderful Hidden Lakes Subdivision. Home is right off a dead end & quiet street. Lake in neighborhood, large yard, 2 car garage. A lot of potential for the imagination on this diamond in the rough. Remodel this home to your exact liking. Looking for investors or home owners able to complete work. It is not move in ready but ready for a makeover!! Please schedule through Showingtime and direct all questions to the Co-Agent. Thank you

SEE MORE

MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • 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)
  • 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30034

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $81k209k

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

Zip Code: 30034

ZipNIR 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
Bob Mathis Elementary School Primary Regular 460 33 3
Chapel Hill Middle School Middle Regular 854 52 4
Southwest Dekalb High School High Regular 1,275 80 4

Bob Mathis Elementary School

  • Education Level: Primary
  • # of students: 460
  • # of teachers: 33
3
GreatSchools Rating

Chapel Hill Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 52
4
GreatSchools Rating

Southwest Dekalb High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 80
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$646
Property Tax -$252
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$417

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.

$175,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.5%
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$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$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
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

13.58

YEARS SAVED

$45,552

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,489

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3753$1,3954$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 3716 Big Springs Road Decatur, GA 4
    • 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.75
    •  
  • 3631 Sapphire Court Decatur, GA 1
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1996
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.76
    •  
  • 2997 Kelley Chapel Road Decatur, GA 2
    • 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 1959
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.69
    •  
  • 3636 Belmont Abbey Drive Decatur, GA 3
    • 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 1975 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 1975
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.72
    •  
  • 2725 Rainbow Forest Drive Decatur, GA 5
    • 3 beds 2 baths ∙ 1,973 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,973 Sqft ∙ Built 1963
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
PROPERTY LISTING DETAILS
Emily Esparza
1.404.631.7123
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6816024
Last Updated: 12/05/2020
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.

BESbswy