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1184 Chris Lane Sw Mableton, GA 30126

3 Beds 2 Baths 1,597 sqft Built 1988

$250,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $156.54
  • 3 Days on Market
  • MLS # : 6818295
  • Updated Date : 12/12/2020 at 16:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,597 sqft
  • Baths : 2 full
Listing Agent's Description

Charming move-in ready ranch in quiet established community near E/W connector, Silver Comet Trail, shopping, dining and easy access to the airport. New interior paint, newer exterior paint, carpet and hot water heater. Home features spacious vaulted family room with fireplace, separate dining room, kitchen with large eat in area, stained cabinets, stainless steel appliances, island, pantry and breakfast bar, master with in-suite bath that has separate garden tub and shower, two additional bedrooms and full bath.

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

Neighborhood: Crestbrook

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $82k246k

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

Neighborhood: Crestbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8171628

* 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
Mableton Elementary School Primary Regular 972 67 4
Floyd Middle School Middle Regular 935 54 4
South Cobb High School High Regular 2,074 106 4

Mableton Elementary School

  • Education Level: Primary
  • # of students: 972
  • # of teachers: 67
4
GreatSchools Rating

Floyd Middle School

  • Education Level: Middle
  • # of students: 935
  • # of teachers: 54
4
GreatSchools Rating

South Cobb High School

  • Education Level: High
  • # of students: 2,074
  • # of teachers: 106
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$922
Property Tax -$221
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$130

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

$1,450

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.9%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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 40% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$20,357

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,230

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4003$1,450
$1,450
RENT COMPS ANALYSIS
  • 1184 Chris Lane Sw Mableton, GA 3
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 900 Concord Road Sw Smyrna, GA 1
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1974
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.70
    •  
  • 520 Shannon Green Circle Mableton, GA 2
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1974
    property image
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.84
    •  
PROPERTY LISTING DETAILS
Mark Spain
1.770.886.9000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6818295
Last Updated: 12/12/2020
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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