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3760 Charlie Lane Douglasville, GA 30135

3 Beds 2 Baths 1,603 sqft Built 1983

$189,900

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $118.47
  • 3 Days on Market
  • MLS # : 6849762
  • Updated Date : 03/06/2021 at 15:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,603 sqft
  • Baths : 2 full
Listing Agent's Description

Spacious 3 BR/2Bath Split -Level Home on a nice size lot. Sun-Filled, Living Room with Vaulted and Beam ceiling with Hardwood Floors. Great views of the front and the rear of the home from LR. Formal Dining Rm, Eat-in kitchen with Appliances. King Size Master BR with double closets, Master Bath has separate tub and shower area. The Secondary Bedrooms are nice sizes. Need more space, unfinished room in basement. This is a great family home. Fenced in backyard, a garden area, blueberries and grapes will be ready for harvest this summer.

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: Anneewakee Trails

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200kPrice in $100k209k

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

Neighborhood: Anneewakee Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290095010001050110011501200125013001350140014501500Rent in $8701509

* 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
New Manchester Elementary School Primary Regular 876 48 4
Factory Shoals Middle School Middle Regular 854 47 5
New Manchester High School High Regular 1,680 95 4

New Manchester Elementary School

  • Education Level: Primary
  • # of students: 876
  • # of teachers: 48
4
GreatSchools Rating

Factory Shoals Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 47
5
GreatSchools Rating

New Manchester High School

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

$170,910$208,890$189,900

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$660
Property Tax -$173
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$170

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.

$189,900

PROJECTED PRICE

$1,180

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.8%
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

PROJECTED ANNUAL CASH FLOW

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

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$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$22,583

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,335

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,180
1$1,1802$1,3503$1,4404$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 3760 Charlie Lane Douglasville, GA 1
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.74
    •  
  • 4201 Willow Ridge Road Douglasville, GA 2
    • 4 beds 2 baths ∙ 1,687 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,687 Sqft ∙ Built 1977
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.80
    •  
  • 4715 Bald Eagle Way Douglasville, GA 3
    • 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 2002
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.86
    •  
  • 4069 Water Hole Court Douglasville, GA 4
    • 4 beds 3 baths ∙ 1,814 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,814 Sqft ∙ Built 1999
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
  • 3820 Willow Ridge Road Douglasville, GA 5
    • 3 beds 3 baths ∙ 1,935 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,935 Sqft ∙ Built 1988
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.82
    •  
PROPERTY LISTING DETAILS
Jacqueline Smith
1.773.988.1855
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6849762
Last Updated: 03/06/2021
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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