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1590 Potomac Court Atlanta, GA 30349

3 Beds 2 Baths 1,944 sqft Built 2008

$179,900

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $92.54
  • 4 Days on Market
  • MLS # : 6818227
  • Updated Date : 12/12/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,944 sqft
  • Baths : 2 full
Listing Agent's Description

You’ll love this charming three-bedroom home with lots of natural light, located in the desirable River’s Station subdivision. What an incredible ownership opportunity for an unbelievable price! Upon entrance you’ll feel right at home! Freshly painted. Bay windows in the dining area. Beautiful flooring and carpeting. Main level has family room with cozy fireplace and ceiling fan. Dining area has beautiful bay windows and access to the fenced-in patio. Kitchen has lots of cabinets.

SEE MORE

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

Zip Code: 30349

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $82k235k

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

Zip Code: 30349

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8171714

* 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
Northcutt Elementary School Primary Regular 652 35 4
North Clayton Middle School Middle Regular 827 45 5
North Clayton High School High Regular 886 46 2

Northcutt Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 35
4
GreatSchools Rating

North Clayton Middle School

  • Education Level: Middle
  • # of students: 827
  • # of teachers: 45
5
GreatSchools Rating

North Clayton High School

  • Education Level: High
  • # of students: 886
  • # of teachers: 46
2
GreatSchools Rating
 

$161,910$197,890$179,900

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$664
Property Tax -$186
Property Insurance -$65
HOA -$45
Property Management Fees -$119
CASH FLOW
$342

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.

$179,900

PROJECTED PRICE

$1,420

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

12

YEARS SAVED

$40,051

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,477

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,4753$1,5004$1,5005$1,695
$1,695
RENT COMPS ANALYSIS
  • 1590 Potomac Court Atlanta, GA 1
    • 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.73
    •  
  • 1565 Tigris Court College Park, GA 2
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2007
    property image
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.70
    •  
  • 5999 Nile Court Atlanta, GA 3
    • 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 2008
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.70
    •  
  • 5467 Northcut Drive Atlanta, GA 4
    • 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1992
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
  • 1595 Danube Court Atlanta, GA 5
    • 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 2007
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
PROPERTY LISTING DETAILS
Wendi Robinson
1.706.564.5623
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6818227
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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