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1445 Monroe Drive Ne #F1 Atlanta, GA 30324

2 Beds 2 Baths 1,060 sqft Built 1975

$270,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $254.72
  • 5 Days on Market
  • MLS # : 6807602
  • Updated Date : 11/13/2020 at 09:56
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,060 sqft
  • Baths : 2 full
Listing Agent's Description

Talk about location!!! Across from Piedmont Park expansion, walk to restaurants, pubs, festivals and events! Convenient to Fernbank, CDC, the Botanical Gardens & the Beltline! This end corner 2 bed, 2 bath unit condo in the highly sought after Carlyle Heights community is updated and MOVE IN READY! One of the only in the community that has an open concept living room, dining room and kitchen featuring stainless steel appliances, granite countertops and freshly painted white cabinetry. Two spacious bedrooms with tons of natural light & ample closet space. Both

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Morningside - Lenox Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $113k746k

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

Neighborhood: Morningside - Lenox Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800300032003400Rent in $9733472

* 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
Morningside Elementary School Primary Regular 827 53 8
Samuel Martin Inman Middle School Middle Regular 1,001 69 8
Henry W Grady High School High Regular 1,287 96 6

Morningside Elementary School

  • Education Level: Primary
  • # of students: 827
  • # of teachers: 53
8
GreatSchools Rating

Samuel Martin Inman Middle School

  • Education Level: Middle
  • # of students: 1,001
  • # of teachers: 69
8
GreatSchools Rating

Henry W Grady High School

  • Education Level: High
  • # of students: 1,287
  • # of teachers: 96
6
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$996
Property Tax -$313
Property Insurance -$48
HOA -$421
Property Management Fees -$119
CASH FLOW
$83

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.

$270,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 6.3%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$16,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $2,141

    COMP ESTIMATED VALUE
  • $2.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,980
1$1,9802$2,500
$2,500
RENT COMPS ANALYSIS
  • 1445 Monroe Drive Ne Atlanta, GA 1
    • 2 beds 2 baths ∙ 1,060 Sqft ∙ Built 1975 2 beds 2 baths ∙ 1,060 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.87
    •  
  • 1001 Lindridge Way Ne Atlanta, GA 2
    • 2 beds 2 baths ∙ 1,238 Sqft ∙ Built 1955 2 beds 2 baths ∙ 1,238 Sqft ∙ Built 1955
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.02
    •  
PROPERTY LISTING DETAILS
The Suits Team
1.404.580.7568
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6807602
Last Updated: 11/13/2020
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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