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142 Newry Drive Atlanta, GA 30349

4 Beds 3 Baths 2,930 sqft Built 2008

$269,900

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $92.12
  • 4 Days on Market
  • MLS # : 6855525
  • Updated Date : 03/19/2021 at 15:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,930 sqft
  • Baths : 3 full
Listing Agent's Description

This home offers tons of space. Four bedrooms and 3 baths. The open kitchen to family room makes for easy entertainment with patio, and huge fenced back yard. The master bedroom come with a large sitting area. All the rooms are spacious with walk-in closets. This brick front home minutes to Camp Creek Market Place and Wolf Creek Amphitheatre & Hartsfield-Jackson International Airport.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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)

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
Cliftondale Elementary School Primary Regular 884 52 5
Renaissance Middle School Middle Regular 1,208 83 3
Langston Hughes High School High Regular 1,890 105 3

Cliftondale Elementary School

  • Education Level: Primary
  • # of students: 884
  • # of teachers: 52
5
GreatSchools Rating

Renaissance Middle School

  • Education Level: Middle
  • # of students: 1,208
  • # of teachers: 83
3
GreatSchools Rating

Langston Hughes High School

  • Education Level: High
  • # of students: 1,890
  • # of teachers: 105
3
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$937
Property Tax -$301
Property Insurance -$84
HOA -$27
Property Management Fees -$119
CASH FLOW
$372

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.

$269,900

PROJECTED PRICE

$1,840

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.7%
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$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

9.83

YEARS SAVED

$39,690

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,839

    COMP ESTIMATED VALUE
  • $0.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6853$1,7854$1,8405$1,965
$1,965
RENT COMPS ANALYSIS
  • 142 Newry Drive Atlanta, GA 4
    • 4 beds 3 baths ∙ 2,930 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,930 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.63
    •  
  • 4330 Holliday Road Atlanta, GA 1
    • 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 2005
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.60
    •  
  • 4185 Post Oak Grove Atlanta, GA 2
    • 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 2006
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.63
    •  
  • 610 Maltese Drive Atlanta, GA 3
    • 3 beds 3 baths ∙ 2,880 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,880 Sqft ∙ Built 2008
    property image
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.62
    •  
  • 3912 Margaux Drive Atlanta, GA 5
    • 5 beds 3 baths ∙ 2,969 Sqft ∙ Built 2009 5 beds 3 baths ∙ 2,969 Sqft ∙ Built 2009
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,965
    • $0.66
    •  
PROPERTY LISTING DETAILS
The Kurzner Group
1.000.000.0000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6855525
Last Updated: 03/19/2021
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.

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