Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6823 Woodcreek Lane Douglasville, GA 30135

4 Beds 3 Baths 2,653 sqft Built 1983

$239,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $90.43
  • 5 Days on Market
  • MLS # : 6819322
  • Updated Date : 12/26/2020 at 11:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,653 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Immaculate & Well Maintained, multi-level 4 Bedroom 2.5 Bath with an open concept and a beautiful stone front fireplace in the family room. Fully renovated & updated, located in the highly sought after CHAPEL HILL SCHOOL DISTRICT and is move-in ready. Newly stained, oversized deck overlooking a beautiful flat/leveled backyard with plenty of room for a pool, a fire pit etc. So bring your ideas! Energy efficient and features a brand new roof, just replaced less than a month ago in Nov 2020. New HVAC, Plumbing, & Electric. Effective year 2018. Just off of I20, in the well

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Creekwood Village

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Creekwood Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8171562

* 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
Arbor Station Elementary School Primary Regular 601 36 6
Chapel Hill Middle School Middle Regular 1,105 59 8
Chapel Hill High School High Regular 1,253 70 6

Arbor Station Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 36
6
GreatSchools Rating

Chapel Hill Middle School

  • Education Level: Middle
  • # of students: 1,105
  • # of teachers: 59
8
GreatSchools Rating

Chapel Hill High School

  • Education Level: High
  • # of students: 1,253
  • # of teachers: 70
6
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$885
Property Tax -$278
Property Insurance -$78
HOA -$28
Property Management Fees -$119
CASH FLOW
$111

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.

$239,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.5%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$15,860

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $1,651

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,465
1$1,4652$1,5003$1,5004$1,5955$1,700
$1,700
RENT COMPS ANALYSIS
  • 6823 Woodcreek Lane Douglasville, GA 3
    • 4 beds 3 baths ∙ 2,653 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,653 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.57
    •  
  • 9887 Live Oak Court Douglasville, GA 1
    • 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 1978
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,465
    • $0.60
    •  
  • 6764 Creek Valley Way Douglasville, GA 2
    • 4 beds 3 baths ∙ 2,448 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,448 Sqft ∙ Built 1986
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.61
    •  
  • 3898 Rosedale Lane Douglasville, GA 4
    • 5 beds 2 baths ∙ 2,341 Sqft ∙ Built 1974 5 beds 2 baths ∙ 2,341 Sqft ∙ Built 1974
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.68
    •  
  • 9915 Scarlet Oak Drive Douglasville, GA 5
    • 4 beds 3 baths ∙ 2,844 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,844 Sqft ∙ Built 1986
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.60
    •  
PROPERTY LISTING DETAILS
Kerri Eaton
1.703.856.3541
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6819322
Last Updated: 12/26/2020
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.

BESbswy