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4059 Akins Ridge Court Powder Springs, GA 30127

4 Beds 3 Baths 1,934 sqft Built 1999

$230,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $118.92
  • 4 Days on Market
  • MLS # : 6842184
  • Updated Date : 02/20/2021 at 09:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,934 sqft
  • Baths : 3 full
Listing Agent's Description

Well Maintained Split Foyer Home located in Akins Ridge Subdivision Close to Downtown Powder Springs, 3 Bdrm /3 Full Baths Lower level has bonus room with full bath that can be used as an in law suite, man cave or teen suit. Large Kitchen boast new appliances Granite Counter tops , tile back splash This Home has a Large Deck, Privacy Fenced backyard. HOME IS LOCATED IN CUL DE SAC AND IS READY TO MOVE IN!

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: Aikens Mill

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $82k216k

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

Neighborhood: Aikens Mill

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
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
 

$207,000$253,000$230,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$799
Property Tax -$250
Property Insurance -$65
HOA -$8
Property Management Fees -$119
CASH FLOW
$220

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.

$230,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.0%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$23,544

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
  • $0.75

    LIST RENT PER SQFT
  • $1,436

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,4603$1,5004$1,6705$1,800
$1,800
RENT COMPS ANALYSIS
  • 4059 Akins Ridge Court Powder Springs, GA 2
    • 4 beds 3 baths ∙ 1,934 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,934 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.75
    •  
  • 4223 Morningside Way Powder Springs, GA 1
    • 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 1992
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.73
    •  
  • 4268 Akins Ridge Lane Powder Springs, GA 3
    • 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1999
    property image
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.69
    •  
  • 5191 Memorial Lane Powder Springs, GA 4
    • 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 2001
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.74
    •  
  • 4425 Sherrel Court Austell, GA 5
    • 5 beds 3 baths ∙ 2,209 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,209 Sqft ∙ Built 1989
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
PROPERTY LISTING DETAILS
Corena Francis
1.404.567.0501
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6842184
Last Updated: 02/20/2021
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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