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1246 Asterwood Lane Sw Atlanta, GA 30331

4 Beds 4 Baths 2,990 sqft Built 2017

$332,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $111.04
  • 49 Days on Market
  • MLS # : 6746079
  • Updated Date : 12/04/2020 at 20:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,990 sqft
  • Baths : 4 full
Listing Agent's Description

This beautifully built Craftsman home is complete with a spacious master suite that feels like a private oasis. It features a spa like retreat, custom his and her closets, a lounging area, and an enclosed private balcony with a ceiling fan. It also features three additional roomy secondary bedrooms with generous closet space. This wonderful open-concept floor plan is filled with natural light and hardwoods throughout. It features an attractive kitchen which contains stainless-steel appliances, granite countertops, an enormous

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MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Southwest Atlanta

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $73k235k

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

Neighborhood: Southwest Atlanta

NeighborhoodNIR 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
A. Phillip Randolph Elementary School Primary Regular 643 39 5
Sandtown Middle School Middle Regular 1,168 80 3
Westlake High School High Regular 2,023 116 6

A. Phillip Randolph Elementary School

  • Education Level: Primary
  • # of students: 643
  • # of teachers: 39
5
GreatSchools Rating

Sandtown Middle School

  • Education Level: Middle
  • # of students: 1,168
  • # of teachers: 80
3
GreatSchools Rating

Westlake High School

  • Education Level: High
  • # of students: 2,023
  • # of teachers: 116
6
GreatSchools Rating
 

$298,800$365,200$332,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,225
Property Tax -$370
Property Insurance -$85
HOA -$100
Property Management Fees -$119
CASH FLOW
-$149

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.

$332,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.6%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$93,730

INVESTMENT

$93,730

Down Payment
$83,000
Rehab Estimate
$5,750
Closing Costs
$4,980

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,225

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,000
Loan Amount $249,000
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $2,233

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8993$2,0004$2,200
$2,200
RENT COMPS ANALYSIS
  • 1246 Asterwood Lane Sw Atlanta, GA 1
    • 4 beds 4 baths ∙ 2,990 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,990 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.59
    •  
  • 5209 Sw Lakerock Drive Atlanta, GA 2
    • 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2004
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.68
    •  
  • 5015 Cascade Hills Circle Atlanta, GA 3
    • 4 beds 3 baths ∙ 2,693 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,693 Sqft ∙ Built 2001
    property image
    LEASED 02/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.74
    •  
  • 5015 Cascade Hills Circle Sw Atlanta, GA 4
    • 4 beds 3 baths ∙ 2,693 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,693 Sqft ∙ Built 2001
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
PROPERTY LISTING DETAILS
Laronna Turnbough
1.404.913.1134
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6746079
Last Updated: 12/04/2020
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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