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7228 Boulder Pass Union City, GA 30291

4 Beds 3 Baths 2,812 sqft Built 2005

$250,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $88.90
  • 3 Days on Market
  • MLS # : 6854625
  • Updated Date : 03/20/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,812 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

THIS IS A GREAT FLOOR PLAN, FORMAL LR, DR, EAT IN KITCHEN, FAMLILY ROOM WITH FIREPLACE, MASTER ON MAIN, UPSTAIRS FEATURES A LOFT AREA IDEAL FOR HOMEWORK FOR KIDS, PLAY AREA AND LARGE ENOUGH FOR A SECOND ENTERTAINING AREA, THREE GENEROUS BEDROOMS, WITH JACK N JILL BATHROOM,ALL ON THE UPPER LEVEL. THE FIRST FLOOR CAN BE USED FOR THE MOTHER/MOTHER IN LAW AND THE REST OF THE FAMILY CAN OCCUPY UPSTAIRS. COME ADD YOUR PERSONAL TOUCHES WITH NEW CARPET AND PAINT. EXCELLENT LOCATION LESS THAN 5 MINUTES FROM I-85. SOLD AS IS

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MARKET HIGHLIGHTS

  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #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).
  • #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)

PRICE & RENT TRENDS

Neighborhood: Oakley Township

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $78k209k

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

Neighborhood: Oakley Township

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8171699

* 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
Oakley Elementary School Primary Regular 816 53 2
Bear Creek Middle School Middle Regular 962 71 4
Creekside High School High Regular 1,635 86 4

Oakley Elementary School

  • Education Level: Primary
  • # of students: 816
  • # of teachers: 53
2
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$868
Property Tax -$279
Property Insurance -$81
HOA -$88
Property Management Fees -$119
CASH FLOW
$295

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.

$250,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.0%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$29,324

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,809

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,7653$1,8454$1,885
$1,885
RENT COMPS ANALYSIS
  • 7228 Boulder Pass Union City, GA 1
    • 4 beds 4 baths ∙ 2,812 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,812 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.62
    •  
  • 7283 Toccoa Circle Union City, GA 2
    • 4 beds 3 baths ∙ 3,008 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,008 Sqft ∙ Built 2006
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $0.59
    •  
  • 7286 Basalt Drive Union City, GA 3
    • 5 beds 3 baths ∙ 2,604 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,604 Sqft ∙ Built 2006
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.71
    •  
  • 7340 Melhana Lane Union City, GA 4
    • 4 beds 3 baths ∙ 2,991 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,991 Sqft ∙ Built 2004
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.63
    •  
PROPERTY LISTING DETAILS
Myrna M Polk
1.678.468.2013
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6854625
Last Updated: 03/20/2021
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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