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6224 Marilla Street Douglasville, GA 30135

4 Beds 2 Baths 1,737 sqft Built 1972

$160,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $92.11
  • 4 Days on Market
  • MLS # : 6830033
  • Updated Date : 02/26/2021 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,737 sqft
  • Baths : 2 full
Listing Agent's Description

Charming 4 bed 2 bath home nestled on a private street with no HOA and a huge fenced backyard! Kitchen and bathrooms both feature granite countertops. Cozy brick fireplace. Multiple living areas on the main level, not to mention the basement! Minutes from I20 access, shopping and restaurants.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Montage Manor

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $74k209k

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

Neighborhood: Montage Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7881509

* 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
Dorsett Shoals Elementary School Primary Regular 425 30 5
Yeager Middle School Middle Regular 536 34 4
Alexander High School High Regular 1,729 96 7

Dorsett Shoals Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 30
5
GreatSchools Rating

Yeager Middle School

  • Education Level: Middle
  • # of students: 536
  • # of teachers: 34
4
GreatSchools Rating

Alexander High School

  • Education Level: High
  • # of students: 1,729
  • # of teachers: 96
7
GreatSchools Rating
 

$144,000$176,000$160,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$556
Property Tax -$151
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$394

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$160,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,150

INVESTMENT

$48,150

Down Payment
$40,000
Rehab Estimate
$5,750
Closing Costs
$2,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$556

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $40,000
Loan Amount $120,000
See What Happens When You Reinvest Cash Flow

14.17

YEARS SAVED

$37,591

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,364

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,280
1$1,2802$1,2853$1,2954$1,3905$1,495
$1,495
RENT COMPS ANALYSIS
  • 6224 Marilla Street Douglasville, GA 1
    • 4 beds 2 baths ∙ 1,737 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,737 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.74
    •  
  • 4170 N Quail Drive Douglasville, GA 2
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1978
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,285
    • $0.82
    •  
  • 5825 S Bear Drive Douglasville, GA 3
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1972
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.76
    •  
  • 6266 Hillpine Drive Douglasville, GA 4
    • 4 beds 2 baths ∙ 1,802 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,802 Sqft ∙ Built 1972
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.77
    •  
  • 4191 Partridge Drive Douglasville, GA 5
    • 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1976
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
PROPERTY LISTING DETAILS
Matthew Mitchell
1.470.222.3139
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6830033
Last Updated: 02/26/2021
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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