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588 Sleepy Hollow Road Powder Springs, GA 30127

3 Beds 2 Baths 2,157 sqft Built 1982

$289,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $134.40
  • 1 Days on Market
  • MLS # : 6914047
  • Updated Date : 07/13/2021 at 15:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,157 sqft
  • Baths : 2 full
Listing Agent's Description

Custom built home sitting on an acre of privacy with a large 18x36 saltwater inground pool ready for all your entertaining pool parties. This level lot has a brand new wood privacy fence and a 30 amp connection for your RV. A large country front porch invites you into the large greatroom with Masonary stone fireplace, oversized master on the main, 2 more bedrooms and 1 bath upstairs along with a bonus room above the kitchen. 2 car garage and an outbuilding makes this the perfect home! NO HOA, No Subdivision, just country living at it's best!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30127

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $103k216k

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

Zip Code: 30127

ZipNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500Rent in $9731509

* 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
Dobbins Middle School Middle Regular 793 48 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

Dobbins Middle School

  • Education Level: Middle
  • # of students: 793
  • # of teachers: 48
7
GreatSchools Rating

Hiram High School

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

$260,910$318,890$289,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,007
Property Tax -$256
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$199

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.

$289,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.57%

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$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$28,955

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,668

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,5954$1,650
$1,650
RENT COMPS ANALYSIS
  • 588 Sleepy Hollow Road Powder Springs, GA 4
    • 3 beds 2 baths ∙ 2,157 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,157 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
  • 786 Beranda Circle Douglasville, GA 1
    • 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 2001
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.73
    •  
  • 450 Beranda Circle Douglasville, GA 2
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 2002
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
  • 3 Sweetwater Parkway Powder Springs, GA 3
    • 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 1993
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
PROPERTY LISTING DETAILS
Toni Long
1.678.237.5747
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6914047
Last Updated: 07/13/2021
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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