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4435 Steeplechase Drive Powder Springs, GA 30127

3 Beds 3 Baths 1,763 sqft Built 1991

$220,900

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $125.30
  • 6 Days on Market
  • MLS # : 6819183
  • Updated Date : 12/16/2020 at 11:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,763 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Come and fall in love with this gorgeous 3 bedroom and 2.5 bathroom home in Powder Springs that is just minutes away from local stores and restaurants in the heart of downtown. Enter the home and you are immediately in the middle of the carpeted open-concept living area with a brick fireplace at the forefront. The kitchen is very spacious and we adore the custom backsplash. The primary bedroom is conveniently on the main floor and features a connected bathroom. We can't forget the large fenced-in backyard that is a perfect spot for entertaining!

SEE MORE

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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • 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 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Steeple Chase

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $84k216k

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

Neighborhood: Steeple Chase

NeighborhoodNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9071509

* 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
 

$198,810$242,990$220,900

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$815
Property Tax -$240
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$185

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.

$220,900

PROJECTED PRICE

$1,420

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.0%
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$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$64,289

INVESTMENT

$64,289

Down Payment
$55,225
Rehab Estimate
$5,750
Closing Costs
$3,314

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$815

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,225
Loan Amount $165,675
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$28,637

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,216

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,206
1$1,2062$1,2503$1,3994$1,4005$1,420
$1,420
RENT COMPS ANALYSIS
  • 4435 Steeplechase Drive Powder Springs, GA 5
    • 3 beds 3 baths ∙ 1,763 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,763 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.81
    •  
  • 4770 Saddleridge Road Powder Springs, GA 1
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1987
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,206
    • $0.67
    •  
  • 4223 Morningside Way Powder Springs, GA 2
    • 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 1992
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.73
    •  
  • 5394 Telford Court Powder Springs, GA 3
    • 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1989
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.69
    •  
  • 4631 Seward Road Powder Springs, GA 4
    • 4 beds 3 baths ∙ 2,087 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,087 Sqft ∙ Built 1971
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.67
    •  
PROPERTY LISTING DETAILS
Michelle Sanders
1.678.884.7933
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6819183
Last Updated: 12/16/2020
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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