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101 Atlanta Avenue Se Atlanta, GA 30315

4 Beds 2 Baths - sqft Built 1920 2 Units

$424,900

List Price

$3,700

$3.5K - $4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
2 Units MULTIFAMILY
YES TENANTED
December 09, 2020 RECENTLY ADDED
FACTS
  • Multi Family Home
  • Built In 1920
  • Price/Sqft : $177.04
  • 6 Days on Market
  • MLS # : 6813377
  • Updated Date : 12/08/2020 at 17:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : '-'
  • Baths : 2 full
Listing Agent's Description

Location, Location!!!! AMAZING Turnkey opportunity in the heart of Grant Park! Built in 1920, this recently renovated light-filled duplex boasts tons of original details and plenty of income potential! The downstairs unit, a 2/1, is a mirror image of the unit above. Both units have their own private outdoor spaces with large rooms & include separate dining room, living room, & bedrooms. This property is a must see.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Peoplestown

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $82k235k

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

Neighborhood: Peoplestown

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8141714

* 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
Daniel H. Stanton Elementary School Primary Regular 249 22 2
Martin Luther King, Jr. Middle School Middle Regular 680 61 3
Maynard Holbrook Jackson High School High Regular 1,022 72 4

Daniel H. Stanton Elementary School

  • Education Level: Primary
  • # of students: 249
  • # of teachers: 22
2
GreatSchools Rating

Martin Luther King, Jr. Middle School

  • Education Level: Middle
  • # of students: 680
  • # of teachers: 61
3
GreatSchools Rating

Maynard Holbrook Jackson High School

  • Education Level: High
  • # of students: 1,022
  • # of teachers: 72
4
GreatSchools Rating
 

$382,410$467,390$424,900

PURCHASE PRICE

$3,330$4,070$3,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,700
EXPENSES Loan Payment -$1,568
Property Tax -$542
Property Insurance -$74
HOA -$120
Property Management Fees -$238
CASH FLOW
$1,159

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.

$424,900

PROJECTED PRICE

$3,700

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.8%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,099

INVESTMENT

$124,099

Down Payment
$106,225
Rehab Estimate
$11,500
Closing Costs
$6,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,225
Loan Amount $318,675
See What Happens When You Reinvest Cash Flow

14.92

YEARS SAVED

$122,877

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Quincy Smallwood
1.404.901.6415
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6813377
Last Updated: 12/08/2020
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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