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158 Kittrell Drive Sw Atlanta, GA 30331

3 Beds 2 Baths 1,257 sqft Built 1967

INVESTimate

$109,900

List Price

$1,090

$981 - $1,199

Rent Est.

$118,802  ( +8.10%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1967
  • Price/Sqft : $87.43
  • 38 Days on Market
  • MLS # : 6755066
  • Updated Date : 08/25/2020 at 13:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,257 sqft
  • Baths : 2 full
Listing Agent's Description

Calling ALL Investors!!! This 3BR/2BA with a partially finished basement is located mins from interstate, short drive to Downtown Atl. This home sits on a ample sized lot & is the perfect investment for someone looking to fix/flip, fix/hold or use as a rental. This home has good bones and is ready for your updates. All offers must include Burgess Title / Miller Law as closing attorney. This property is currently tenant occupied. Please DO NOT Disturb Tenant.Showings by appointment ONLY.

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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

Neighborhood: Baker Hills

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $46k235k

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

Neighborhood: Baker Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6291714

* 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
Leonora Precious Miles Intermediate School Primary Regular 325 21 2
Jean Childs Young Middle School Middle Regular 981 65 2
Benjamin E. Mays High School High Regular 1,707 102 2

Leonora Precious Miles Intermediate School

  • Education Level: Primary
  • # of students: 325
  • # of teachers: 21
2
GreatSchools Rating

Jean Childs Young Middle School

  • Education Level: Middle
  • # of students: 981
  • # of teachers: 65
2
GreatSchools Rating

Benjamin E. Mays High School

  • Education Level: High
  • # of students: 1,707
  • # of teachers: 102
2
GreatSchools Rating
 

$98,910$120,890$109,900

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$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$405
Property Tax -$127
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$387

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.

$109,900

PROJECTED PRICE

$1,090

PROJECTED RENT

0.99%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.10%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$34,874

INVESTMENT

$34,874

Down Payment
$27,475
Rehab Estimate
$5,750
Closing Costs
$1,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$405

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $27,475
Loan Amount $82,425
See What Happens When You Reinvest Cash Flow

16.58

YEARS SAVED

$36,012

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
  • $0.87

    LIST RENT PER SQFT
  • $1,185

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,090
1$1,0902$1,0953$1,1004$1,2235$1,395
$1,395
RENT COMPS ANALYSIS
  • 158 Kittrell Drive Sw Atlanta, 1
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1967
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.87
    •  
  • 3670 Venus Place Nw Atlanta, 2
    • 3 beds 1 baths ∙ 1,146 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,146 Sqft ∙ Built 1960
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.96
    •  
  • 491 Bolton Road Nw Atlanta, 3
    • 4 beds 2 baths ∙ 1,173 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,173 Sqft ∙ Built 1950
    property image
    LEASED 02/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.94
    •  
  • 658 Tarragon Way Sw Atlanta, 4
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1987
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,223
    • $0.90
    •  
  • 4031 Bakers Ferry Road Sw Atlanta, 5
    • 3 beds 3 baths ∙ 1,442 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,442 Sqft ∙ Built 1964
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.97
    •  
PROPERTY LISTING DETAILS
John Ziegler
1.678.428.8119
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6755066
Last Updated: 08/25/2020
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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