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6229 Paris Cove Fairburn, GA 30213

4 Beds 3 Baths 2,364 sqft Built 2006

$235,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $99.41
  • 5 Days on Market
  • MLS # : 6811877
  • Updated Date : 12/03/2020 at 19:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,364 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Just in time for your new year resolution to be a home owner. Awesome 2 story 4BRM/2.5 bathroom home with seperate living and dining rooms.Well kept hardwood on main floor thats nestled in this quiet South Fulton Fariburn community.

SEE MORE

MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • 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 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)

PRICE & RENT TRENDS

Zip Code: 30213

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30213

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171521

* 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
Renaissance Elementary School Primary Regular 765 51 4
Renaissance Middle School Middle Regular 1,208 83 3
Langston Hughes High School High Regular 1,890 105 3

Renaissance Elementary School

  • Education Level: Primary
  • # of students: 765
  • # of teachers: 51
4
GreatSchools Rating

Renaissance Middle School

  • Education Level: Middle
  • # of students: 1,208
  • # of teachers: 83
3
GreatSchools Rating

Langston Hughes High School

  • Education Level: High
  • # of students: 1,890
  • # of teachers: 105
3
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$867
Property Tax -$262
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
$419

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.

$235,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.6%
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$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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

11.75

YEARS SAVED

$51,288

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,714

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,5503$1,7404$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 6229 Paris Cove Fairburn, GA 3
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.74
    •  
  • 5467 Babbling View Fairburn, GA 1
    • 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2005
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.70
    •  
  • 7542 Waverly Loop Fairburn, GA 2
    • 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 2006
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.67
    •  
  • 525 Saint Helen Way Fairburn, GA 4
    • 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2017
    property image
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 7979 Larksview Drive Fairburn, GA 5
    • 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2005
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.77
    •  
PROPERTY LISTING DETAILS
Jonathan Freemont
1.404.951.2757
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6811877
Last Updated: 12/03/2020
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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