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5090 Lakewood Way Powder Springs, GA 30127

4 Beds 3 Baths 2,820 sqft Built 1992

$275,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $97.52
  • 3 Days on Market
  • MLS # : 6833668
  • Updated Date : 01/29/2021 at 18:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,820 sqft
  • Baths : 3 full
Listing Agent's Description

You will love this delightful 2 Story Home with an In-Law Suite. This 3 Bedroom 3 Full bath home has a 2 Car garage. Giving you 2820 Sq. Ft. Of Spacious Living. Clean Carpet throughout the house and a nice kitchen ready for you to make Family Dinners. Imagine cuddling up to a cozy fireplace with a good book on a cold Winters night. Two decks on the back yard with easy access to the main floor as well as the In- Law suite. You will Enjoy those refreshing walks in the established neighborhood of Country Cove. This adorable home is in an HOA that features Swimming and

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (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).
  • 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)
  • #1 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: Country Cove

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210kPrice in $95k216k

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

Neighborhood: Country Cove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9261509

* 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
Varner Elementary School Primary Regular 685 50 8
Tapp Middle School Middle Regular 769 51 8
Mceachern High School High Regular 2,239 122 6

Varner Elementary School

  • Education Level: Primary
  • # of students: 685
  • # of teachers: 50
8
GreatSchools Rating

Tapp Middle School

  • Education Level: Middle
  • # of students: 769
  • # of teachers: 51
8
GreatSchools Rating

Mceachern High School

  • Education Level: High
  • # of students: 2,239
  • # of teachers: 122
6
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$955
Property Tax -$298
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
$166

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.

$275,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.59%

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$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

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$23,892

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $1,692

    COMP ESTIMATED VALUE
  • $0.6

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,7003$1,980
$1,980
RENT COMPS ANALYSIS
  • 5090 Lakewood Way Powder Springs, GA 1
    • 4 beds 3 baths ∙ 2,820 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,820 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.57
    •  
  • 297 Horseshoe Lane Hiram, GA 2
    • 4 beds 3 baths ∙ 3,067 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,067 Sqft ∙ Built 2006
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.55
    •  
  • 294 Poplar Farms Drive Hiram, GA 3
    • 4 beds 3 baths ∙ 3,029 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,029 Sqft ∙ Built 2006
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.65
    •  
PROPERTY LISTING DETAILS
Wilfredo Barrera Guardado
1.678.848.5016
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6833668
Last Updated: 01/29/2021
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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