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605 Cole Creek Drive Dallas, GA 30157

4 Beds 2 Baths 1,852 sqft Built 2016

$220,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $118.79
  • 5 Days on Market
  • MLS # : 6825096
  • Updated Date : 01/08/2021 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,852 sqft
  • Baths : 2 full
Listing Agent's Description

Nice 4 bedroom, 2 bath home. Master on main. double vanity, garden tub, separate tub and walk in closet. Vaulted ceilings in living room. Kitchen is open and spacious and includes black appliances. Will not last.

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: 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
Allgood Elementary School Primary Regular 879 57 5
Herschel Jones Middle School Middle Regular 737 44 5
Paulding County High School High Regular 1,748 88 6

Allgood Elementary School

  • Education Level: Primary
  • # of students: 879
  • # of teachers: 57
5
GreatSchools Rating

Herschel Jones Middle School

  • Education Level: Middle
  • # of students: 737
  • # of teachers: 44
5
GreatSchools Rating

Paulding County High School

  • Education Level: High
  • # of students: 1,748
  • # of teachers: 88
6
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$764
Property Tax -$221
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$383

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.

$220,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.70%

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$5.0k$10k$15k$20k

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$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

12.58

YEARS SAVED

$44,339

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3853$1,5204$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 605 Cole Creek Drive Dallas, GA 4
    • 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 409 Silver Spring Street Dallas, GA 1
    • 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2006
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.85
    •  
  • 310 Trailside Drive Dallas, GA 2
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2006
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $0.89
    •  
  • 118 Bainbridge Court Dallas, GA 3
    • 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 2001
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.81
    •  
  • 107 Larkin Way Dallas, GA 5
    • 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 2005
    LEASED 07/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
PROPERTY LISTING DETAILS
Terri Dodson
1.770.298.6186
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6825096
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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