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6395 Hemp Street Douglasville, GA 30135

3 Beds 2 Baths 1,344 sqft Built 1971

$190,000

List Price

$1,080

$972 - $1.2K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $141.37
  • 6 Days on Market
  • MLS # : 6806858
  • Updated Date : 11/13/2020 at 14:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 2 full
Listing Agent's Description

Come and see this beautifully RENOVATED 4 sided brick ranch featuring NEW EVERYTHING from top to bottom! Everything was carefully thought out. Home greets you with a rocking chair front porch, gleaming hardwood floors throughout, open and spacious family and dining room. Kitchen has white shaker cabinets, tile floors, granite countertops, SS appliances and separate laundry room. Primary bathroom & secondary bathroom feature tile floors and tile shower/ tiled tub.

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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)
  • 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

Neighborhood: Amberwood

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200kPrice in $61k209k

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

Neighborhood: Amberwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7901509

* 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
Bill Arp Elementary School Primary Regular 628 37 5
Yeager Middle School Middle Regular 536 34 4
Alexander High School High Regular 1,729 96 7

Bill Arp Elementary School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 37
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
 

$171,000$209,000$190,000

PURCHASE PRICE

$972$1,188$1,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,080
EXPENSES Loan Payment -$701
Property Tax -$173
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$33

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.

$190,000

PROJECTED PRICE

$1,080

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$9,883

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,080

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,082

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,080
1$1,0802$1,2183$1,2294$1,2295$1,285
$1,285
RENT COMPS ANALYSIS
  • 6395 Hemp Street Douglasville, GA 1
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,080
    • $0.80
    •  
  • 3930 Cheoah Drive Douglasville, GA 2
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1973
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,218
    • $0.80
    •  
  • 6654 Prinston Circle Douglasville, GA 3
    • 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1977
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,229
    • $0.85
    •  
  • 6335 Garnet Drive Douglasville, GA 4
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1971
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,229
    • $0.75
    •  
  • 4170 N Quail Drive Douglasville, GA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Laura Miller Edwards Realty Group
1.404.357.8474
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6806858
Last Updated: 11/13/2020
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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