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537 Ridge Run Drive Hiram, GA 30141

3 Beds 2 Baths 1,408 sqft Built 1993

$190,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $134.94
  • 4 Days on Market
  • MLS # : 6825248
  • Updated Date : 01/08/2021 at 12:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,408 sqft
  • Baths : 2 full
Listing Agent's Description

Come & See this adorable Home in Forest Ridge Estates Subdivision. Features include Large Family Room with Fireplace - Spacious Kitchen with nice Breakfast/Dining Room, Lots of Cabinet Space Overlooking Private Fenced Backyard. Master on Main & Master Bath with Garden Tub & Separate Shower. - Nice Secondary Bedrooms. New carpet throughout the house. One large room and closet finished in basement with extra room for storage! New Private Back Deck. Oversized garage. French drain added to prevent water intrusion in garage.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Zip Code: 30141

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $87k209k

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

Zip Code: 30141

ZipNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500Rent in $9651509

* 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
Hal Hutchens Elementary School Primary Regular 799 53 6
Austin Middle School Middle Regular 877 51 7
Hiram High School High Regular 1,636 80 5

Hal Hutchens Elementary School

  • Education Level: Primary
  • # of students: 799
  • # of teachers: 53
6
GreatSchools Rating

Austin Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 51
7
GreatSchools Rating

Hiram High School

  • Education Level: High
  • # of students: 1,636
  • # of teachers: 80
5
GreatSchools Rating
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$660
Property Tax -$168
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$349

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.

$190,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.7%
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$900k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

13.17

YEARS SAVED

$39,914

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,165

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2953$1,2954$1,3505$1,475
$1,475
RENT COMPS ANALYSIS
  • 537 Ridge Run Drive Hiram, GA 4
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 21 Poole Bridge Court Hiram, GA 1
    • 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 1994
    property image
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.77
    •  
  • 148 Kent Lane Douglasville, GA 2
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1998
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.84
    •  
  • 43 Oak Landing Circle Douglasville, GA 3
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1992
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.86
    •  
  • 392 Paradise Crossing Douglasville, GA 5
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 2002
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.84
    •  
PROPERTY LISTING DETAILS
Steve Payment
1.678.923.4327
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6825248
Last Updated: 01/08/2021
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. © 2017 First Multiple Listing Service, Inc.

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