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3815 Sharon Drive Powder Springs, GA 30127

4 Beds 3 Baths 2,266 sqft Built 1965

$282,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $124.45
  • 4 Days on Market
  • MLS # : 6828147
  • Updated Date : 01/15/2021 at 21:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,266 sqft
  • Baths : 3 full
Listing Agent's Description

Don't sleep on this one. This 4 bedroom 3 bath ranch in Powder Springs is the definition of value. Completely renovated property within walking distance of downtown Powder Springs, the new city park and the Silver Comet Trail! Home sits on level 1/2+ acre lot with fenced in back yard and separate storage shed. Open concept with granite and new kitchen cabinet doors. Four large bedrooms, which provide two master options, family room and space for extra work out room or possible home office. Roof and HVAC are also less than 3 years old.

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

Zip Code: 30127

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $103k216k

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

Zip Code: 30127

ZipNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500Rent in $9731509

* 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
Powder Springs Elementary School Primary Regular 798 58 5
Cooper Middle School Middle Regular 899 53 8
Mceachern High School High Regular 2,239 122 6

Powder Springs Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 58
5
GreatSchools Rating

Cooper Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 53
8
GreatSchools Rating

Mceachern High School

  • Education Level: High
  • # of students: 2,239
  • # of teachers: 122
6
GreatSchools Rating
 

$253,800$310,200$282,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$979
Property Tax -$306
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$255

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.

$282,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,480

INVESTMENT

$80,480

Down Payment
$70,500
Rehab Estimate
$5,750
Closing Costs
$4,230

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$979

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,500
Loan Amount $211,500
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$33,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,643

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5503$1,730
$1,730
RENT COMPS ANALYSIS
  • 3815 Sharon Drive Powder Springs, GA 3
    • 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.76
    •  
  • 4631 Seward Road Powder Springs, GA 1
    • 4 beds 3 baths ∙ 2,087 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,087 Sqft ∙ Built 1971
    property image
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.67
    •  
  • 3940 Hubert Drive Powder Springs, GA 2
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1968
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
PROPERTY LISTING DETAILS
John Griffin
1.404.725.0759
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828147
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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