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6824 Creekwood Drive Douglasville, GA 30135

3 Beds 2 Baths 2,192 sqft Built 1988

$219,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $100.32
  • 3 Days on Market
  • MLS # : 6811485
  • Updated Date : 11/21/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,192 sqft
  • Baths : 2 full
Listing Agent's Description

This charming home is ready for its new owner! The spacious living/dining area features high ceilings, wood beams, built-ins, fireplace and sliding doors to a new back deck. The bright country kitchen showcases picture windows overlooking the large, flat backyard. The upper level offers 3 oversized bedrooms, 2 bathrooms, and extra storage. Brand new carpet and LVP flooring throughout the main and upper levels. On the lower level you will find a spacious laundry/mud room, finished bonus room, and 1 car garage. Swim/tennis community in a very convenient location.

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)
  • 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 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)

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
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$811
Property Tax -$255
Property Insurance -$70
HOA -$34
Property Management Fees -$119
CASH FLOW
$171

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.

$219,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.66%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$20,564

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,611

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,4603$1,4754$1,6505$1,855
$1,855
RENT COMPS ANALYSIS
  • 6824 Creekwood Drive Douglasville, GA 2
    • 3 beds 2 baths ∙ 2,192 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,192 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.67
    •  
  • 6806 Knollwood Drive Douglasville, GA 1
    • 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 1977
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.68
    •  
  • 3973 Cheoah Drive Douglasville, GA 3
    • 4 beds 3 baths ∙ 1,966 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,966 Sqft ∙ Built 1971
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.75
    •  
  • 5213 Inverness Court Douglasville, GA 4
    • 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 2005
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 9704 Squirrel Wood Run Douglasville, GA 5
    • 3 beds 2 baths ∙ 2,434 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,434 Sqft ∙ Built 1994
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,855
    • $0.76
    •  
PROPERTY LISTING DETAILS
Emily Herdt
1.770.301.3737
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6811485
Last Updated: 11/21/2020
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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