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6897 White Mill Road Fairburn, GA 30213

3 Beds 3 Baths 2,688 sqft Built 1985

$349,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $129.84
  • 6 Days on Market
  • MLS # : 6809673
  • Updated Date : 11/18/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,688 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Gorgeous cabin nestled outside the hustle and bustle of city living. Exceptional property sprawled over 4 private acres that include 352' of water frontage on Line Creek. The custom built cabin boasts a renovated kitchen that includes a full set of Kitchen-Aid Commercial grade appliances, updated bathrooms, spacious rooms, Pella windows throughout, and custom shelving in all closets. The exterior provides a wrap around deck with custom entry steps, Trex decking around pool, garden space, parking pad, and mature hardwood throughout.

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

Zip Code: 30213

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30213

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171521

* 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
Evoline C. West Elementary School Primary Regular 818 56 5
Bear Creek Middle School Middle Regular 962 71 4
Creekside High School High Regular 1,635 86 4

Evoline C. West Elementary School

  • Education Level: Primary
  • # of students: 818
  • # of teachers: 56
5
GreatSchools Rating

Bear Creek Middle School

  • Education Level: Middle
  • # of students: 962
  • # of teachers: 71
4
GreatSchools Rating

Creekside High School

  • Education Level: High
  • # of students: 1,635
  • # of teachers: 86
4
GreatSchools Rating
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,288
Property Tax -$389
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
-$155

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.

$349,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 7.6%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,243

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,855

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7203$1,800
$1,800
RENT COMPS ANALYSIS
  • 6897 White Mill Road Fairburn, GA 2
    • 3 beds 3 baths ∙ 2,688 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,688 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.64
    •  
  • 1075 Winding Brook Way Fairburn, GA 1
    • 4 beds 4 baths ∙ 2,716 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,716 Sqft ∙ Built 2004
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.61
    •  
  • 7979 Larksview Drive Fairburn, GA 3
    • 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.77
    •  
PROPERTY LISTING DETAILS
Chris Rentz
1.404.702.7193
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6809673
Last Updated: 11/18/2020
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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