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1130 Shoreham Drive Atlanta, GA 30349

4 Beds 3 Baths 1,550 sqft Built 1967

$250,000

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $161.29
  • 7 Days on Market
  • MLS # : 6837881
  • Updated Date : 02/09/2021 at 17:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,550 sqft
  • Baths : 3 full
Listing Agent's Description

BEAUTIFUL 4 BDRMS AND 3 FULL BATHS RENOVATED HOME IN QUIET NEIGHBORHOOD, FRESH PAINT, NEW KITCHEN WITH GRANITE COUNTERTOPS, STAINLESS STEEL APPLIANCES, NEW BATHROOMS, WATER HEATHER, FLOOR AND CARPET, HOUSE LOCATED VERY CLOSE TO EXPRESSWAY MINUTES FROM THE AIRPORT DO NOT MISS THIS OPPORTUNITY, READY TO MOVE IN, WELCOME, CONVENTIONAL LOANS AVAILABLE/NO SELLER DISCLOSURE.

SEE MORE

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

Zip Code: 30349

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $82k235k

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

Zip Code: 30349

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8171714

* 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
Northcutt Elementary School Primary Regular 652 35 4
North Clayton Middle School Middle Regular 827 45 5
North Clayton High School High Regular 886 46 2

Northcutt Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 35
4
GreatSchools Rating

North Clayton Middle School

  • Education Level: Middle
  • # of students: 827
  • # of teachers: 45
5
GreatSchools Rating

North Clayton High School

  • Education Level: High
  • # of students: 886
  • # of teachers: 46
2
GreatSchools Rating
 

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

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$868
Property Tax -$258
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$203

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

$1,100

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

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 65% 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

0.58

YEARS SAVED

$552

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,137

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1993$1,2524$1,315
$1,315
RENT COMPS ANALYSIS
  • 1130 Shoreham Drive Atlanta, GA 1
    • 4 beds 3 baths ∙ 1,550 Sqft ∙ Built 1967 4 beds 3 baths ∙ 1,550 Sqft ∙ Built 1967
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.71
    •  
  • 5257 Norman Boulevard Atlanta, GA 2
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1963
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $0.76
    •  
  • 1230 Pineglen Drive Riverdale, GA 3
    • 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 1962
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,252
    • $0.72
    •  
  • 5411 Louis Xiv Lane College Park, GA 4
    • 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 1968
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,315
    • $0.72
    •  
PROPERTY LISTING DETAILS
Felipe Hernandez
1.470.209.4627
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837881
Last Updated: 02/09/2021
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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