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531 Gregory Manor Drive Sw Smyrna, GA 30082

4 Beds 2 Baths 1,502 sqft Built 1987

$240,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $159.79
  • 3 Days on Market
  • MLS # : 6841951
  • Updated Date : 02/20/2021 at 18:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,502 sqft
  • Baths : 2 full
Listing Agent's Description

Sun Soaked, Spacious, and STEPS from Silver Comet Trail! A Tree-Lined Front Porch welcomes you into this handsome home. Hardwood Floors begin in a Fireside Family Room with Bay Window and continue into an Open Kitchen with Island Breakfast Bar and adjoining Formal Dining Room. An Oversized Owner's Suite offers the perfect place to unwind with a Walk-In Closet and Private Ensuite Bathroom featuring Dual Vanity and Custom Tile Shower. Two Additional Bedrooms offer Flex Living Options. Downstairs, a Finished Basement with Large Bonus Room delivers ample space for

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Gregory Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $102k321k

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

Neighborhood: Gregory Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8382009

* 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
Russell Elementary School Primary Regular 676 55 5
Floyd Middle School Middle Regular 935 54 4
South Cobb High School High Regular 2,074 106 4

Russell Elementary School

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 55
5
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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$834
Property Tax -$275
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$216

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.

$240,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
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$900k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$31,034

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,479

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5004$1,5005$1,795
$1,795
RENT COMPS ANALYSIS
  • 531 Gregory Manor Drive Sw Smyrna, GA 4
    • 4 beds 2 baths ∙ 1,502 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,502 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
  • 5233 Maple Valley Road Mableton, GA 1
    • 5 beds 2 baths ∙ 1,543 Sqft ∙ Built 1969 5 beds 2 baths ∙ 1,543 Sqft ∙ Built 1969
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 5065 Shannon Way Sw Mableton, GA 2
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1979
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 103 Radford Circle Sw Marietta, GA 3
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1989
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 182 Belfast Court Sw Mableton, GA 5
    • 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1980
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.05
    •  
PROPERTY LISTING DETAILS
The Justin Landis Group
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6841951
Last Updated: 02/20/2021
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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