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398 Smyrna Powder Springs Road Se Smyrna, GA 30082

4 Beds 4 Baths 2,149 sqft Built 1991

$346,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $161.01
  • 5 Days on Market
  • MLS # : 6827369
  • Updated Date : 01/14/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,149 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

This Smyrna two-story home offers a patio, granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

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

Neighborhood: Hickory Acres

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $82k275k

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

Neighborhood: Hickory Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8171991

* 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
Norton Park Elementary School Primary Regular 884 69 4
Griffin Middle School Middle Regular 1,196 70 5
Campbell High School High Regular 2,509 135 5

Norton Park Elementary School

  • Education Level: Primary
  • # of students: 884
  • # of teachers: 69
4
GreatSchools Rating

Griffin Middle School

  • Education Level: Middle
  • # of students: 1,196
  • # of teachers: 70
5
GreatSchools Rating

Campbell High School

  • Education Level: High
  • # of students: 2,509
  • # of teachers: 135
5
GreatSchools Rating
 

$311,400$380,600$346,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,202
Property Tax -$350
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$110

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.

$346,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.3%
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$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,440

INVESTMENT

$97,440

Down Payment
$86,500
Rehab Estimate
$5,750
Closing Costs
$5,190

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,202

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,500
Loan Amount $259,500
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$17,630

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,880

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,8003$1,8504$2,0755$2,100
$2,100
RENT COMPS ANALYSIS
  • 398 Smyrna Powder Springs Road Se Smyrna, GA 3
    • 4 beds 4 baths ∙ 2,149 Sqft ∙ Built 1991 4 beds 4 baths ∙ 2,149 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 2321 Kissing Tree Lane Smyrna, GA 1
    • 3 beds 3 baths ∙ 1,802 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,802 Sqft ∙ Built 1997
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.82
    •  
  • 3032 Vineyard Way Se Smyrna, GA 2
    • 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 1995
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.89
    •  
  • 4713 Vineyard Court Se Smyrna, GA 4
    • 4 beds 2 baths ∙ 2,472 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,472 Sqft ∙ Built 1994
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.84
    •  
  • 2756 Stonecreek Road Se Smyrna, GA 5
    • 3 beds 3 baths ∙ 2,208 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,208 Sqft ∙ Built 1993
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
PROPERTY LISTING DETAILS
Kim Klir
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6827369
Last Updated: 01/14/2021
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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