Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1178 Joseph E Boone Boulevard Nw Atlanta, GA 30314

8 Beds 4 Baths - sqft Built 1960 4 Units

$469,000

List Price

$3,800

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
4 Units MULTIFAMILY
FACTS
  • Multi Family Home
  • Built In 1960
  • Price/Sqft : $189.27
  • 14 Days on Market
  • MLS # : 6826776
  • Updated Date : 01/16/2021 at 02:40
CONSTRUCTION
  • Beds : 8
  • Floor Size : '-'
  • Baths : 4 full
Listing Agent's Description

Great Income Property for Residual income, completely renovated, new windows, new roof, architect roofing shingles, new carpet throughout, new granite counter tops, new doors, ext and inter, new lighting, new ceiling fans, tankless hotter heaters ECO, New HVAC System Total electric, New Cabinets, Appliances, New patio, New front patio porch. Great Property!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)

PRICE & RENT TRENDS

Neighborhood: Hunter Hills

NeighborhoodNIR Market*CityMarket2010Year2000201940k60k80k100k120k140k160k180k200k220kPrice in $40k235k

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

Neighborhood: Hunter Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q250060070080090010001100120013001400150016001700Rent in $4321714

* 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
Michael R. Hollis Innovation Academy Primary Regular NA
Joseph Emerson Brown Middle School Middle Regular 685 42 2
Booker T Washington High School High Regular 835 63 3

Michael R. Hollis Innovation Academy

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Joseph Emerson Brown Middle School

  • Education Level: Middle
  • # of students: 685
  • # of teachers: 42
2
GreatSchools Rating

Booker T Washington High School

  • Education Level: High
  • # of students: 835
  • # of teachers: 63
3
GreatSchools Rating
 

$422,100$515,900$469,000

PURCHASE PRICE

$3,420$4,180$3,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,800
EXPENSES Loan Payment -$1,629
Property Tax -$544
Property Insurance -$75
HOA -$190
Property Management Fees -$476
CASH FLOW
$886

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.

$469,000

PROJECTED PRICE

$3,800

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.3%
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$5.0k$10k$15k$20k$25k$30k$35k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,285

INVESTMENT

$147,285

Down Payment
$117,250
Rehab Estimate
$23,000
Closing Costs
$7,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,629

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,250
Loan Amount $351,750
See What Happens When You Reinvest Cash Flow

12

YEARS SAVED

$88,463

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
Samantha Nash
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6826776
Last Updated: 01/16/2021
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.

BESbswy