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3890 Nixon Grove Drive Douglasville, GA 30135

3 Beds 3 Baths 2,091 sqft Built 2018

INVESTimate

$220,000

List Price

$1,460

$1,314 - $1,606

Rent Est.

$237,094  ( +7.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $105.21
  • 3 Days on Market
  • MLS # : 6771290
  • Updated Date : 08/26/2020 at 03:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,091 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful townhouse in a quiet community. This house has 3 bedrooms, 2.5 baths with large open family room, kitchen with breakfast area that looks out to private deck and the family room. Master suite is extra-large, with room for a home office, nursery, sitting space, or craft. The master bath is connected to a walk in closed, has spot lighting over the tub, shower, and vanity. The two secondary bedrooms and bathrooms are also upstairs along with the laundry room. The backyard is fenced and has a deck which provides a fantastic functional outdoor space and privacy.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30135

ZipNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200kPrice in $100k209k

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

Zip Code: 30135

ZipNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9311509

* 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

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$812
Property Tax -$201
Property Insurance -$68
HOA -$116
Property Management Fees -$119
CASH FLOW
$145

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.

$220,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.77%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

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 40% down payment or higher enables the proceeds from the asset to cover all costs.

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$22,377

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,631

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,6653$1,880
$1,880
RENT COMPS ANALYSIS
  • 3890 Nixon Grove Drive Douglasville, 1
    • 3 beds 3 baths ∙ 2,091 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,091 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.70
    •  
  • 4070 Tarnwood Place Douglasville, 2
    • 4 beds 3 baths ∙ 2,323 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,323 Sqft ∙ Built 2017
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.72
    •  
  • 5027 Manning Drive Douglasville, 3
    • 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2014
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.84
    •  
PROPERTY LISTING DETAILS
Monir Clark
1.404.451.3337
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6771290
Last Updated: 08/26/2020
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.

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