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1584 Richmond Drive Se Mableton, GA 30126

3 Beds 3 Baths 1,977 sqft Built 2010

$282,900

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $143.10
  • 5 Days on Market
  • MLS # : 6832910
  • Updated Date : 01/28/2021 at 13:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,977 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

If you've been on the search for a townhome that is conveniently located near local shopping and restaurants then come and look at this is beauty in Mableton! Step inside through the gorgeous entryway and you're immediately surrounded by the open-concept living area. The living room features a fireplace and a TV mount for easy install while the kitchen has a long island, stainless steel appliances, and a gas range. Head up to the primary bedroom that showcases vaulted ceilings as well as an ensuite bathroom with double sinks and a separate shower and tub!

SEE MORE

MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: Oakdale Bluffs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $112k321k

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

Neighborhood: Oakdale Bluffs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
 

$254,610$311,190$282,900

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$983
Property Tax -$301
Property Insurance -$65
HOA -$230
Property Management Fees -$119
CASH FLOW
$222

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.

$282,900

PROJECTED PRICE

$1,920

PROJECTED RENT

0.68%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$80,719

INVESTMENT

$80,719

Down Payment
$70,725
Rehab Estimate
$5,750
Closing Costs
$4,244

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$983

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,725
Loan Amount $212,175
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$29,395

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,720

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,9203$2,125
$2,125
RENT COMPS ANALYSIS
  • 1584 Richmond Drive Se Mableton, GA 2
    • 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.97
    •  
  • 1775 Graywood Drive Se Mableton, GA 1
    • 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 1999
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 6020 W Rosie Lane Se Mableton, GA 3
    • 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 1999
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.92
    •  
PROPERTY LISTING DETAILS
Michelle Sanders
1.678.884.7933
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6832910
Last Updated: 01/28/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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