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1078 Ne Piedmont Avenue #207 Atlanta, GA 30309

2 Beds 2 Baths 1,144 sqft Built 1982

$300,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $262.24
  • 6 Days on Market
  • MLS # : 6835544
  • Updated Date : 02/03/2021 at 08:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,144 sqft
  • Baths : 2 full
Listing Agent's Description

Location, location, location!! Welcome home to this light filled 2 bedroom charming condo right in the heart of Midtown. Right outside your condo door you are at the entrance of Piedmont Park, restaurants, and shopping! Walk in side and see the open living room with wall to wall shelving and a spiral staircase to the upstairs bedroom with a kingsized platform bed. Each floor has a full bath and a spacious bedroom. NO HOA rent restrictions. NEW HVAC.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Midtown

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Midtown

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9732967

* 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
Springdale Park Elementary School Primary Regular 672 48 8
Samuel Martin Inman Middle School Middle Regular 1,001 69 8
Henry W Grady High School High Regular 1,287 96 6

Springdale Park Elementary School

  • Education Level: Primary
  • # of students: 672
  • # of teachers: 48
8
GreatSchools Rating

Samuel Martin Inman Middle School

  • Education Level: Middle
  • # of students: 1,001
  • # of teachers: 69
8
GreatSchools Rating

Henry W Grady High School

  • Education Level: High
  • # of students: 1,287
  • # of teachers: 96
6
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,042
Property Tax -$350
Property Insurance -$49
HOA -$465
Property Management Fees -$119
CASH FLOW
$15

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.

$300,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$9,647

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $1.78

    LIST RENT PER SQFT
  • $2,288

    COMP ESTIMATED VALUE
  • $2

    COMP AVG. RENT PER SQFT
Comps Range
$2,040
1$2,0402$2,2003$2,250
$2,250
RENT COMPS ANALYSIS
  • 1078 Ne Piedmont Avenue Atlanta, GA 1
    • 2 beds 2 baths ∙ 1,144 Sqft ∙ Built 1982 2 beds 2 baths ∙ 1,144 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $1.78
    •  
  • 199 14th Street Ne Atlanta, GA 2
    • 2 beds 2 baths ∙ 1,103 Sqft ∙ Built 1992 2 beds 2 baths ∙ 1,103 Sqft ∙ Built 1992
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.99
    •  
  • 195 14th Street Atlanta, GA 3
    • 2 beds 2 baths ∙ 1,122 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,122 Sqft ∙ Built 2002
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $2.01
    •  
PROPERTY LISTING DETAILS
Annmarie Grenga
1.678.848.8958
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6835544
Last Updated: 02/03/2021
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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