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1472 Riverrock Trail Riverdale, GA 30296

3 Beds 3 Baths 1,470 sqft Built 2004

INVESTimate

$129,000

List Price

$1,090

$981 - $1,199

Rent Est.

$141,023  ( +9.32%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $87.76
  • 3 Days on Market
  • MLS # : 6772258
  • Updated Date : 08/26/2020 at 03:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,470 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

BEAUTIFUL BRICK FRONT 3 BEDROOM 2.5 BATH END UNIT LOT PERFECT FOR PRIVACY. SPACIOUS FLOOR PLAN NEW APPLIANCES. READY TO MOVE IN! MAKE THIS QUIET COMMUNITY YOUR HOME.

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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: 30296

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $71k209k

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

Zip Code: 30296

ZipNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7621509

* 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
Lake Ridge Elementary School Primary Regular 729 43 3
Kendrick Middle School Middle Regular 761 50 4
Riverdale High School High Regular 1,392 68 3

Lake Ridge Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 43
3
GreatSchools Rating

Kendrick Middle School

  • Education Level: Middle
  • # of students: 761
  • # of teachers: 50
4
GreatSchools Rating

Riverdale High School

  • Education Level: High
  • # of students: 1,392
  • # of teachers: 68
3
GreatSchools Rating
 

$116,100$141,900$129,000

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

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 $1,090
EXPENSES Loan Payment -$476
Property Tax -$171
Property Insurance -$56
HOA -$45
Property Management Fees -$119
CASH FLOW
$224

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.

$129,000

PROJECTED PRICE

$1,090

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.32%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$39,935

INVESTMENT

$39,935

Down Payment
$32,250
Rehab Estimate
$5,750
Closing Costs
$1,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $32,250
Loan Amount $96,750
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$24,471

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,090

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,090
1$1,090
$1,090
RENT COMPS ANALYSIS
  • 1472 Riverrock Trail Riverdale,
    • 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.74
    •  
PROPERTY LISTING DETAILS
Basil O Ibenyenwa
1.770.318.2717
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6772258
Last Updated: 08/26/2020
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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