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PROPERTY INFO
FACTS
- Single Family
- Built In 1984
- Price/Sqft : $156.25
- 2 Days on Market
- MLS # : 6830394
- Updated Date : 01/23/2021 at 21:40
CONSTRUCTION
- Beds : 3
- Floor Size : 1,248 sqft
- Baths : 2 full
Listing Agent's Description
Charming home on a large, private wooded lot. No HOA, 2 lots, just shy of an acre. The possibilities for this property are endless! These homeowners have poured so much love into this 3 bedroom 2 bath hideaway! Self professed "neat freaks", this gem is as clean as it gets! Fresh paint and updated flooring has given this house a great facelift. Roomy living room with large windows and a beautiful fireplace. Separate dining room with glass double doors leading to a spacious back deck- an entertainer's dream!!
SEE MORE
- 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)
- #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
- Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
- #1 Moving Destination in the Nation (Penske, 2018)
- Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
- As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
- #1 Most affordable big city (WalletHub, 2018)
PRICE & RENT TRENDS
Neighborhood: Westmoreland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Westmoreland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,220 |
| EXPENSES | Loan Payment | -$677 |
| Property Tax | -$178 | |
| Property Insurance | -$51 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$194
|
||
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.
$195,000
PROJECTED PRICE
$1,220
PROJECTED RENT
0.63%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$57,425
LOAN DETAILS
$677
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $48,750 |
| Loan Amount | $146,250 |
8.42
YEARS SAVED
$21,709
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,220
LIST RENT -
$0.98
LIST RENT PER SQFT
-
$1,036
COMP ESTIMATED VALUE -
$0.83
COMP AVG. RENT PER SQFT
Comps Range
-
4073 Westview Street Douglasville, GA 1
- 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1984
- Rent
- Rent Per SQFT
- $1,220
- $0.98
-
6654 Prinston Circle Douglasville, GA 2
- 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1977
LEASED 09/03/19- Rent
- Rent Per SQFT
- $1,229
- $0.85
-
5955 Sumter Drive Douglasville, GA 3
- 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1983
LEASED 04/29/20- Rent
- Rent Per SQFT
- $1,279
- $0.82
-
4170 N Quail Drive Douglasville, GA 4
- 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1978
LEASED 10/19/19- Rent
- Rent Per SQFT
- $1,285
- $0.82
PROPERTY LISTING DETAILS
1.404.324.7321
1.866.250.5610
RentVest Georgia LLC
H-75957
MLS #: 6830394
Last Updated: 01/23/2021
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.
