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1502 Justine Way Se Smyrna, GA 30126

3 Beds 3 Baths 2,881 sqft Built 2006

$350,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $121.49
  • 4 Days on Market
  • MLS # : 6825324
  • Updated Date : 01/08/2021 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,881 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

What are you looking for in your next home–beauty, location, amenities, recreation, shopping, entertainment, sports? WHY NOT HAVE IT ALL? You are in Smyrna 30126 on the edge of Mableton & ATL, close to everything. Walk to Smyrna’s Riverline Park to use the track, playground, & soccer fields. It’s a short drive to the Silver Comet Trail, two future County parks, dntwn ATL, or the airport. Take the trail from the neighborhood to the Chattahoochee to enjoy the park along the river, or a beverage at the brewery, or BBQ or coffee.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: The Enclave at Oakdale

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $112k321k

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

Neighborhood: The Enclave at Oakdale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732031

* 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
Harmony-leland Elementary School Primary Regular 707 48 6
Lindley Middle School Middle Regular 1,166 65 4
Pebblebrook High School High Regular 2,289 120 3

Harmony-leland Elementary School

  • Education Level: Primary
  • # of students: 707
  • # of teachers: 48
6
GreatSchools Rating

Lindley Middle School

  • Education Level: Middle
  • # of students: 1,166
  • # of teachers: 65
4
GreatSchools Rating

Pebblebrook High School

  • Education Level: High
  • # of students: 2,289
  • # of teachers: 120
3
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,216
Property Tax -$354
Property Insurance -$83
HOA -$68
Property Management Fees -$119
CASH FLOW
$610

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.

$350,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 5.9%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

13.17

YEARS SAVED

$73,483

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,247

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,030
1$2,0302$2,1003$2,1504$2,4505$2,600
$2,600
RENT COMPS ANALYSIS
  • 1502 Justine Way Se Smyrna, GA 4
    • 3 beds 3 baths ∙ 2,881 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,881 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.85
    •  
  • 6020 W Rosie Lane Se Mableton, GA 1
    • 4 beds 3 baths ∙ 2,697 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,697 Sqft ∙ Built 1999
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.75
    •  
  • 6207 Indian Woods Circle Mableton, GA 2
    • 3 beds 4 baths ∙ 2,700 Sqft ∙ Built 2005 3 beds 4 baths ∙ 2,700 Sqft ∙ Built 2005
    property image
    LEASED 07/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 1512 Justine Way Mableton, GA 3
    • 4 beds 3 baths ∙ 2,853 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,853 Sqft ∙ Built 2006
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.75
    •  
  • 5935 Sharp Drive Se Smyrna, GA 5
    • 4 beds 3 baths ∙ 3,095 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,095 Sqft ∙ Built 2007
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.84
    •  
PROPERTY LISTING DETAILS
Charles Bolash
1.404.578.3047
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6825324
Last Updated: 01/08/2021
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. © 2017 First Multiple Listing Service, Inc.

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