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7287 Tiderace Court Palmetto, GA 30268

4 Beds 3 Baths 1,500 sqft Built 2005

$160,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $106.67
  • 3 Days on Market
  • MLS # : 6805559
  • Updated Date : 11/07/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,500 sqft
  • Baths : 3 full
Listing Agent's Description

Beautiful 4BR/3BA home in highly desired Chattahoochee Hills. Home has several upgrades and fresh paint throughout to welcome the new owners. 1 BR and 1 full bath on the main level. Laundry conveniently located in the kitchen that boasts ceramic tile flooring and back splash. The remaining 3 BR and 2 full baths are on the upper level. Oversized master bedroom features a large walk-in closet. Master bath has a new Jacuzzi style garden tub and new flooring. When it is time to venture outside, you will enjoy the level yard that is perfect for entertaining loved ones.

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

Zip Code: 30268

ZipNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200kPrice in $93k209k

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

Zip Code: 30268

ZipNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7841509

* 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
Palmetto Elementary School Primary Regular 556 39 3
Bear Creek Middle School Middle Regular 962 71 4
Creekside High School High Regular 1,635 86 4

Palmetto Elementary School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 39
3
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
 

$144,000$176,000$160,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$590
Property Tax -$171
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$383

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.

$160,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.3%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,150

INVESTMENT

$48,150

Down Payment
$40,000
Rehab Estimate
$5,750
Closing Costs
$2,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$590

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $40,000
Loan Amount $120,000
See What Happens When You Reinvest Cash Flow

14.67

YEARS SAVED

$45,183

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,245

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,390
$1,390
RENT COMPS ANALYSIS
  • 7287 Tiderace Court Palmetto, GA 1
    • 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.88
    •  
  • 7337 Tiderace Court Palmetto, GA 2
    • 3 beds 3 baths ∙ 1,683 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,683 Sqft ∙ Built 2005
    property image
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.83
    •  
PROPERTY LISTING DETAILS
Joyce Wood
1.770.310.1022
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805559
Last Updated: 11/07/2020
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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