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3908 Mill Glen Drive Douglasville, GA 30135

3 Beds 2 Baths 1,716 sqft Built 1990

$249,900

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $145.63
  • 11 Days on Market
  • MLS # : 6856568
  • Updated Date : 03/21/2021 at 01:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,716 sqft
  • Baths : 2 full
Listing Agent's Description

This beautiful three bedroom, two bathroom ranch is a must see! The formal dining room and brick fireplace are gorgeous features you will absolutely fall in love with. This gem of a property is nestled at the end of the cul-de-sac and waiting your showing request. Property is tenant occupied.

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: Mill Glen Forrest

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Mill Glen Forrest

NeighborhoodNIR 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
Arbor Station Elementary School Primary Regular 601 36 6
Yeager Middle School Middle Regular 536 34 4
Chapel Hill High School High Regular 1,253 70 6

Arbor Station Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 36
6
GreatSchools Rating

Yeager Middle School

  • Education Level: Middle
  • # of students: 536
  • # of teachers: 34
4
GreatSchools Rating

Chapel Hill High School

  • Education Level: High
  • # of students: 1,253
  • # of teachers: 70
6
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$868
Property Tax -$228
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$35

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.

$249,900

PROJECTED PRICE

$1,310

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.8%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$9,999

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,390

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3003$1,3104$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 3908 Mill Glen Drive Douglasville, GA 3
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.76
    •  
  • 4982 Ailene Drive Douglasville, GA 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1973
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.75
    •  
  • 6701 Live Oak Lane Douglasville, GA 2
    • 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 1978
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.79
    •  
  • 5532 Stewart Mill Road Douglasville, GA 4
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1977
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 4074 Yeager Road Douglasville, GA 5
    • 4 beds 2 baths ∙ 1,763 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,763 Sqft ∙ Built 1977
    property image
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
PROPERTY LISTING DETAILS
Sanders Team
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6856568
Last Updated: 03/21/2021
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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