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1559 Delia Drive Decatur, GA 30033

3 Beds 2 Baths 2,096 sqft Built 1975

$240,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $114.50
  • 2 Days on Market
  • MLS # : 6818165
  • Updated Date : 12/12/2020 at 20:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,096 sqft
  • Baths : 2 full
Listing Agent's Description

Nice 3 bedroom home in Hot Decatur! This home is a perfect fixer upper.

MARKET HIGHLIGHTS

  • 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (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)
  • #1 Most affordable big city (WalletHub, 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)

PRICE & RENT TRENDS

Neighborhood: Lindmoor Woods - Valley Brook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $90k257k

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

Neighborhood: Lindmoor Woods - Valley Brook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8801768

* 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
Laurel Ridge Elementary School Primary Regular 447 36 7
Druid Hills Middle School Middle Regular 902 67 6
Druid Hills High School High Regular 1,386 88 5

Laurel Ridge Elementary School

  • Education Level: Primary
  • # of students: 447
  • # of teachers: 36
7
GreatSchools Rating

Druid Hills Middle School

  • Education Level: Middle
  • # of students: 902
  • # of teachers: 67
6
GreatSchools Rating

Druid Hills High School

  • Education Level: High
  • # of students: 1,386
  • # of teachers: 88
5
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$886
Property Tax -$440
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$558

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.

$240,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

14.17

YEARS SAVED

$64,925

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,368

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0703$2,4004$2,4955$2,700
$2,700
RENT COMPS ANALYSIS
  • 1559 Delia Drive Decatur, GA 2
    • 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 1975 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.99
    •  
  • 1364 Sanden Ferry Drive Decatur, GA 1
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1966
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.05
    •  
  • 2889 Bonanza Drive Decatur, GA 3
    • 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 1963 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 1963
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.03
    •  
  • 3181 Windfield Circle Tucker, GA 4
    • 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 1974
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.30
    •  
  • 2993 Arbor Chase Atlanta, GA 5
    • 3 beds 3 baths ∙ 2,368 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,368 Sqft ∙ Built 1993
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.14
    •  
PROPERTY LISTING DETAILS
Nikhil Sharma
1.770.355.8889
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6818165
Last Updated: 12/12/2020
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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