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66 Cole Creek Road Dallas, GA 30157

3 Beds 2 Baths 1,104 sqft Built 1986

$199,999

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $181.16
  • 8 Days on Market
  • MLS # : 6826333
  • Updated Date : 01/11/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,104 sqft
  • Baths : 2 full
Listing Agent's Description

Look no further! Beautiful ranch home in Dallas located right off Nebo Road. This property is located minutes from the Interstate, popular shopping centers, and fine dining. Located in the award winning Paulding County School district, this home has been completely renovated from top to bottom. This home features a new roof, new paint inside and out, new wiring, new plumbing, new flooring, new granite countertops, new sink and dishwasher, new windows, new doors, new light fixtures, new carpet in all bedrooms, and more! Linoleum and floating hardwood give way to a

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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).
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Zip Code: 30157

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $85k209k

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

Zip Code: 30157

ZipNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9251509

* 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
Nebo Elementary School Primary Regular 769 46 4
South Paulding Middle School Middle Regular 506 34 6
South Paulding High School High Regular 1,774 84 6

Nebo Elementary School

  • Education Level: Primary
  • # of students: 769
  • # of teachers: 46
4
GreatSchools Rating

South Paulding Middle School

  • Education Level: Middle
  • # of students: 506
  • # of teachers: 34
6
GreatSchools Rating

South Paulding High School

  • Education Level: High
  • # of students: 1,774
  • # of teachers: 84
6
GreatSchools Rating
 

$179,999$219,999$199,999

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$695
Property Tax -$176
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$211

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$199,999

PROJECTED PRICE

$1,250

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $149,999
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$27,842

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,104

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,199
1$1,1992$1,2503$1,2504$1,349
$1,349
RENT COMPS ANALYSIS
  • 66 Cole Creek Road Dallas, GA 3
    • 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.13
    •  
  • 604 Cedar Creek Drive Dallas, GA 1
    • 3 beds 2 baths ∙ 1,184 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,184 Sqft ∙ Built 1990
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $1.01
    •  
  • 172 Arbor Way Dallas, GA 2
    • 3 beds 3 baths ∙ 1,332 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,332 Sqft ∙ Built 1990
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
  • 87 Princeton Drive Dallas, GA 4
    • 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 2000
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $1.05
    •  
PROPERTY LISTING DETAILS
Thomas Montgomery
1.770.359.9075
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6826333
Last Updated: 01/11/2021
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. © 2017 First Multiple Listing Service, Inc.

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