Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1623 Cheryl Terrace Riverdale, GA 30296

3 Beds 3 Baths 2,190 sqft Built 1980

$225,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $102.74
  • 6 Days on Market
  • MLS # : 6834367
  • Updated Date : 02/03/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,190 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Newly Renovated Home. Home is upgraded with New flooring, New Stainless Steel Appliances, New fixtures, new exterior and interior paint, Upgraded bathrooms with new flooring, vanities and tile work. House has large fenced backyard for entertainment and finished basement.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30296

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $71k209k

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

Zip Code: 30296

ZipNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7621509

* 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
Oliver Elementary School Primary Regular 632 34 3
North Clayton Middle School Middle Regular 827 45 5
North Clayton High School High Regular 886 46 2

Oliver Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 34
3
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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$782
Property Tax -$298
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$143

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.

$225,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.3%
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

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$15,168

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,445

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,4003$1,4104$1,475
$1,475
RENT COMPS ANALYSIS
  • 1623 Cheryl Terrace Riverdale, GA 3
    • 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.64
    •  
  • 1592 Envoy Place Riverdale, GA 1
    • 3 beds 2 baths ∙ 1,955 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,955 Sqft ∙ Built 1973
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.68
    •  
  • 1028 Worth Court Riverdale, GA 2
    • 4 beds 3 baths ∙ 2,154 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,154 Sqft ∙ Built 1998
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.65
    •  
  • 2020 Surrey Trail Atlanta, GA 4
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 1995
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.65
    •  
PROPERTY LISTING DETAILS
Kiran Artham
1.678.517.2303
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6834367
Last Updated: 02/03/2021
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.

BESbswy