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6380 Kimberly Mill Road College Park, GA 30349

4 Beds 2 Baths 2,300 sqft Built 1972

$168,888

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $73.43
  • 2 Days on Market
  • MLS # : 6817163
  • Updated Date : 12/12/2020 at 07:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,300 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Don't miss this partially updated split level! This home features new carpet, new laminate, new fixtures and new laminate counter tops. There is also a large bonus room off from the kitchen. All that's missing is your special touches, to make this home. Property sold AS/IS. Seller will offer a one year home warranty, not to exceed $550. Investor owned. No seller disclosures.

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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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: 30349

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30349

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171509

* 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
Mary M. Bethune Elementary School Primary Regular 747 47 2
Ronald E. Mcnair Middle School Middle Regular 823 61 3
Benjamin Banneker High School High Regular 1,411 104 2

Mary M. Bethune Elementary School

  • Education Level: Primary
  • # of students: 747
  • # of teachers: 47
2
GreatSchools Rating

Ronald E. Mcnair Middle School

  • Education Level: Middle
  • # of students: 823
  • # of teachers: 61
3
GreatSchools Rating

Benjamin Banneker High School

  • Education Level: High
  • # of students: 1,411
  • # of teachers: 104
2
GreatSchools Rating
 

$151,999$185,777$168,888

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$623
Property Tax -$116
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$580

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.

$168,888

PROJECTED PRICE

$1,510

PROJECTED RENT

0.89%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.7%
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$800k$900k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,505

INVESTMENT

$50,505

Down Payment
$42,222
Rehab Estimate
$5,750
Closing Costs
$2,533

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,222
Loan Amount $126,666
See What Happens When You Reinvest Cash Flow

17

YEARS SAVED

$56,193

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4953$1,5104$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 6380 Kimberly Mill Road College Park, GA 3
    • 4 beds 2 baths ∙ 2,300 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,300 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.66
    •  
  • 6370 Ashdale Drive Atlanta, GA 1
    • 5 beds 3 baths ∙ 2,212 Sqft ∙ Built 1976 5 beds 3 baths ∙ 2,212 Sqft ∙ Built 1976
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.63
    •  
  • 2740 Old Spanish Trail College Park, GA 2
    • 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 1969
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.70
    •  
  • 6695 Buckhurst Trail Atlanta, GA 4
    • 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 1973
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.70
    •  
  • 3049 Flat Shoals Road Atlanta, GA 5
    • 5 beds 3 baths ∙ 2,353 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,353 Sqft ∙ Built 1990
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
PROPERTY LISTING DETAILS
Mark Cody
1.305.349.3051
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6817163
Last Updated: 12/12/2020
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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