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6583 N Seminole Drive Douglasville, GA 30135

3 Beds 2 Baths 1,370 sqft Built 1975

$229,900

List Price

$1,110

$999 - $1.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $167.81
  • 3 Days on Market
  • MLS # : 6837034
  • Updated Date : 02/06/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,370 sqft
  • Baths : 2 full
Listing Agent's Description

Charming 4-Sided Brick Ranch Style Home nestled on a private Corner Lot located in Douglasville's Bright Star Estates Community! This Home has been fully Renovated Throughout. The Home features 3 Bedrooms with 2 Full Bathrooms, Hardwood floors throughout the main living area. The kitchen features granite Counter-Tops, All White Cabinetry & Brand New Stainless Steel Appliances. New Modern Lighting & Ceiling Fans installed throughout home. All Three Bedrooms are very spacious, Both Bathrooms also updated with Granite Tops, Tile Flooring & Fixtures. New Carpet installed in

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bright Star Estates

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Bright Star Estates

NeighborhoodNIR 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
Bill Arp Elementary School Primary Regular 628 37 5
Mason Creek Middle School Middle Regular 868 49 5
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

Mason Creek Middle School

  • Education Level: Middle
  • # of students: 868
  • # of teachers: 49
5
GreatSchools Rating

Alexander High School

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

$206,910$252,890$229,900

PURCHASE PRICE

$999$1,221$1,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,110
EXPENSES Loan Payment -$799
Property Tax -$210
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$71

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.

$229,900

PROJECTED PRICE

$1,110

PROJECTED RENT

0.48%

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-$4.0k-$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$3,742

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,110

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,103

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,110
1$1,1102$1,2183$1,2294$1,2295$1,285
$1,285
RENT COMPS ANALYSIS
  • 6583 N Seminole Drive Douglasville, GA 1
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,110
    • $0.81
    •  
  • 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
Kimberly Mason
1.770.685.8678
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837034
Last Updated: 02/06/2021
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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