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49 Spring Ridge Drive Dallas, GA 30157

3 Beds 3 Baths 1,562 sqft Built 1998

$225,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $144.05
  • 3 Days on Market
  • MLS # : 6804206
  • Updated Date : 11/07/2020 at 15:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,562 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Lovely home with wrap-around porch! New granite countertops, new cabinets, and fresh paint. Hardwood flooring, new tile, and new carpet. Updated master bath. New security system and HVAC. New fence and a full (unfinished) basement.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30157

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $85k209k

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

Zip Code: 30157

ZipNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9251509

* 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
Roberts Elementary School Primary Regular 636 40 6
East Paulding Middle School Middle Regular 841 50 7
East Paulding High School High Regular 1,666 85 5

Roberts Elementary School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 40
6
GreatSchools Rating

East Paulding Middle School

  • Education Level: Middle
  • # of students: 841
  • # of teachers: 50
7
GreatSchools Rating

East Paulding High School

  • Education Level: High
  • # of students: 1,666
  • # of teachers: 85
5
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$830
Property Tax -$253
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$280

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.

$225,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.4%
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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$40,790

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,257

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4254$1,4505$1,540
$1,540
RENT COMPS ANALYSIS
  • 49 Spring Ridge Drive Dallas, GA 5
    • 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.99
    •  
  • 256 Quail Hollow Drive Dallas, GA 1
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1985
    LEASED 08/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.84
    •  
  • 43 Ashwood Drive Dallas, GA 2
    • 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1995
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.78
    •  
  • 80 Mount Tabor Court Dallas, GA 3
    • 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 1998
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.82
    •  
  • 126 Wellington Court Dallas, GA 4
    • 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 1996
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
PROPERTY LISTING DETAILS
Robert Norris
1.470.379.6258
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6804206
Last Updated: 11/07/2020
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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