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1271 Lori Ann Way Atlanta, GA 30349

3 Beds 2 Baths 1,376 sqft Built 1989

INVESTimate

$139,000

List Price

$1,100

$990 - $1,210

Rent Est.

$151,065  ( +8.68%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $101.02
  • 3 Days on Market
  • MLS # : 6771464
  • Updated Date : 08/25/2020 at 11:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,376 sqft
  • Baths : 2 full
Listing Agent's Description

**home has multiple offers, please submit highest and best by Tuesday 8/26, 6pm*** A 3 bedroom 2 bath ranch style home close to Atlanta Airport! Open Kitchen and dining room concept, with large laundry room and Large back yard.

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

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
 

$125,100$152,900$139,000

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$513
Property Tax -$144
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$271

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.

$139,000

PROJECTED PRICE

$1,100

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.68%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$42,585

INVESTMENT

$42,585

Down Payment
$34,750
Rehab Estimate
$5,750
Closing Costs
$2,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $34,750
Loan Amount $104,250
See What Happens When You Reinvest Cash Flow

12.25

YEARS SAVED

$31,844

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
  • $0.8

    LIST RENT PER SQFT
  • $1,004

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,1003$1,145
$1,145
RENT COMPS ANALYSIS
  • 1271 Lori Ann Way Atlanta, 2
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.80
    •  
  • 1257 Lori Ann Way Atlanta, 1
    • 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1996
    LEASED 04/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.74
    •  
  • 824 Rock Shoals Court College Park, 3
    • 3 beds 3 baths ∙ 1,592 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,592 Sqft ∙ Built 1999
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $0.72
    •  
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 #: 6771464
Last Updated: 08/25/2020
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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