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

1185 Davis Place Nw #R Atlanta, GA 30318

4 Beds 4 Baths 2,520 sqft Built 2005

$485,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $192.46
  • 4 Days on Market
  • MLS # : 6805372
  • Updated Date : 11/06/2020 at 09:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,520 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Community of 8 townhomes tucked away in Underwood Hills! Conveniently located near top restaurants in West Midtown and easy access to the highway. 4 Bedrooms/3.5 Baths include a bedroom and bath on the terrace level and the other 3 bedrooms upstairs. The entire main level is all hardwoods and walks out to a deck in the back. The deck overlooks the green space of the community which is ideal for gatherings. Nice large kitchen with a breakfast area and keeping room. The kitchen has granite counters and stainless appliances.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Underwood Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Underwood Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9732594

* 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
Eretus Rivers Elementary School Primary Regular 633 51 7
Willis A. Sutton Middle School Middle Regular 1,448 93 6
North Atlanta High School High Regular 1,657 102 6

Eretus Rivers Elementary School

  • Education Level: Primary
  • # of students: 633
  • # of teachers: 51
7
GreatSchools Rating

Willis A. Sutton Middle School

  • Education Level: Middle
  • # of students: 1,448
  • # of teachers: 93
6
GreatSchools Rating

North Atlanta High School

  • Education Level: High
  • # of students: 1,657
  • # of teachers: 102
6
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$1,789
Property Tax -$575
Property Insurance -$76
HOA -$125
Property Management Fees -$119
CASH FLOW
$116

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.

$485,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.5%
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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$36,403

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $3,066

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$2,8004$3,250
$3,250
RENT COMPS ANALYSIS
  • 1185 Davis Place Nw Atlanta, GA 3
    • 4 beds 4 baths ∙ 2,520 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,520 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.11
    •  
  • 1822 Dupont Avenue Nw Atlanta, GA 1
    • 4 beds 4 baths ∙ 2,516 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,516 Sqft ∙ Built 2004
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.07
    •  
  • 1674 Carr Circle Nw Atlanta, GA 2
    • 4 beds 4 baths ∙ 2,316 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,316 Sqft ∙ Built 2005
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.19
    •  
  • 1316 Dupont Commons Circle Nw Atlanta, GA 4
    • 4 beds 4 baths ∙ 2,344 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,344 Sqft ∙ Built 2012
    LEASED 06/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.39
    •  
PROPERTY LISTING DETAILS
Alison Sternfels
1.404.569.3674
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6805372
Last Updated: 11/06/2020
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.

BESbswy