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1629 Afton Lane Ne Brookhaven, GA 30329

3 Beds 2 Baths 1,842 sqft Built 1960

$356,300

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $193.43
  • 7 Days on Market
  • MLS # : 6826718
  • Updated Date : 01/13/2021 at 10:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,842 sqft
  • Baths : 2 full
Listing Agent's Description

You have to see this spacious, charming 3 bedroom, 2 bathroom home in the Peachtree Village community of Brookhaven. As you enter this inviting brick home, you'll be welcomed by wood flooring that nicely complements the exterior, and crown molding throughout the dining room, family room, and den. The bright kitchen includes a clean tile backsplash, a comfortable dining area, and french doors that lead to the covered deck. The main floor primary bedroom includes a spacious walk-in closet, and the nearby bathroom is neatly tiled with elevated, updated furnishings.

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Neighborhood: Buford Highway

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $103k505k

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

Neighborhood: Buford Highway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9732933

* 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
Montclair Elementary School Primary Regular 1,125 70 1
Sequoyah Middle School Middle Regular 1,416 89 4
Cross Keys High School High Regular 1,316 81 5

Montclair Elementary School

  • Education Level: Primary
  • # of students: 1,125
  • # of teachers: 70
1
GreatSchools Rating

Sequoyah Middle School

  • Education Level: Middle
  • # of students: 1,416
  • # of teachers: 89
4
GreatSchools Rating

Cross Keys High School

  • Education Level: High
  • # of students: 1,316
  • # of teachers: 81
5
GreatSchools Rating
 

$320,670$391,930$356,300

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,238
Property Tax -$405
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$335

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.

$356,300

PROJECTED PRICE

$2,160

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.7%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,170

INVESTMENT

$100,170

Down Payment
$89,075
Rehab Estimate
$5,750
Closing Costs
$5,345

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,238

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,075
Loan Amount $267,225
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$44,493

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,298

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1603$2,2954$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 1629 Afton Lane Ne Brookhaven, GA 2
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.17
    •  
  • 1912 Forest Green Drive Ne Atlanta, GA 1
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1954
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.22
    •  
  • 1886 Timothy Drive Ne Atlanta, GA 3
    • 4 beds 2 baths ∙ 2,002 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,002 Sqft ∙ Built 1959
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.15
    •  
  • 1496 N Druid Hills Road Ne Brookhaven, GA 4
    • 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 1956 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 1956
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.19
    •  
  • 2172 Jonathon Lane Ne Brookhaven, GA 5
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1961
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.43
    •  
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 #: 6826718
Last Updated: 01/13/2021
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. © 2017 First Multiple Listing Service, Inc.

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