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4231 Brookwood Drive Austell, GA 30106

3 Beds 2 Baths 1,325 sqft Built 1967

$229,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $172.83
  • 6 Days on Market
  • MLS # : 6824043
  • Updated Date : 01/06/2021 at 19:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,325 sqft
  • Baths : 2 full
Listing Agent's Description

This is charming 3 bedroom, 2 bathroom ranch has a fenced in spacious yard with a NEW Roof, installed in 2019. Less than 5 minutes from East-West Connector and retail, including multiple grocery stores. Conveniently located .1 miles from the Silver Comet Trail and less than 25 minutes to Downtown Atlanta, Mercedes Benz Stadium and The Battery. Freshly upgraded. Covered concrete porch. Lots of potential and space to add more square foot. New paint, flooring, counter top and kitchen sink. Replaced HVAC last year. This one is move in ready.

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).
  • #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)
  • 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: Heritage Hills

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $74k209k

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

Neighborhood: Heritage Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7701509

* 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
Sanders Elementary School Primary Regular 800 64 4
Floyd Middle School Middle Regular 935 54 4
South Cobb High School High Regular 2,074 106 4

Sanders Elementary School

  • Education Level: Primary
  • # of students: 800
  • # of teachers: 64
4
GreatSchools Rating

Floyd Middle School

  • Education Level: Middle
  • # of students: 935
  • # of teachers: 54
4
GreatSchools Rating

South Cobb High School

  • Education Level: High
  • # of students: 2,074
  • # of teachers: 106
4
GreatSchools Rating
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$795
Property Tax -$211
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$142

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.

$229,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.0%
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

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$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$795

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$17,247

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,170

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3003$1,3204$1,400
$1,400
RENT COMPS ANALYSIS
  • 4231 Brookwood Drive Austell, GA 3
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $1.00
    •  
  • 5168 Mable Lake Drive Sw Mableton, GA 1
    • 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1958
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.87
    •  
  • 2116 Warren Drive Austell, GA 2
    • 3 beds 1 baths ∙ 1,389 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,389 Sqft ∙ Built 1956
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.94
    •  
  • 520 Shannon Green Circle Mableton, GA 4
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1974
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.84
    •  
PROPERTY LISTING DETAILS
Adnan Shaikh
1.770.653.6766
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6824043
Last Updated: 01/06/2021
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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