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4423 Turnberry Court Douglasville, GA 30135

3 Beds 3 Baths 2,319 sqft Built 1988

$260,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $112.12
  • 20 Days on Market
  • MLS # : 6838194
  • Updated Date : 02/25/2021 at 16:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,319 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

BONUS ROOM/CLOSET!! Listing will not last long on the market. Fantastic home with attic bonus room with closet. Property is sold "as-is". Property needed minor "TLC".Terra Cotta floors, hardwoods,mosiac tiles. The kitchen island is perfect for great conversations with family. The Home 20 minutes from down town Atlanta. Yes also moments away from "Six Flags over Georgia". Breakfast bar over looks the large back yard. Beautiful foyer. Property should go FHA. bedroom sizes are very very nice.Please text to when the offer has been submitted.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Turnberry

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200kPrice in $100k209k

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

Neighborhood: Turnberry

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9311572

* 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
Chapel Hill Elementary School Primary Regular 709 43 7
Chapel Hill Middle School Middle Regular 1,105 59 8
Chapel Hill High School High Regular 1,253 70 6

Chapel Hill Elementary School

  • Education Level: Primary
  • # of students: 709
  • # of teachers: 43
7
GreatSchools Rating

Chapel Hill Middle School

  • Education Level: Middle
  • # of students: 1,105
  • # of teachers: 59
8
GreatSchools Rating

Chapel Hill High School

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

$234,000$286,000$260,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$903
Property Tax -$237
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$279

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$260,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$36,684

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,641

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,315
1$1,3152$1,5003$1,6004$1,6105$1,650
$1,650
RENT COMPS ANALYSIS
  • 4423 Turnberry Court Douglasville, GA 4
    • 3 beds 3 baths ∙ 2,319 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,319 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.69
    •  
  • 3875 Forsythia Way Douglasville, GA 1
    • 3 beds 2 baths ∙ 2,207 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,207 Sqft ∙ Built 1990
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,315
    • $0.60
    •  
  • 4270 Soaring Drive Douglasville, GA 2
    • 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 1999
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.72
    •  
  • 4556 Raptor Trail Douglasville, GA 3
    • 3 beds 3 baths ∙ 2,103 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,103 Sqft ∙ Built 1999
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.76
    •  
  • 5213 Inverness Court Douglasville, GA 5
    • 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 2005
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
PROPERTY LISTING DETAILS
Tonya Wiley
1.678.663.0722
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6838194
Last Updated: 02/25/2021
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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