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17 Turman Ave, 4 Avenue Se Atlanta, GA 30315

3 Beds 1 Baths 875 sqft Built 1986

$199,900

List Price

$1,010

$909 - $1.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $228.46
  • 3 Days on Market
  • MLS # : 6849713
  • Updated Date : 03/06/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 875 sqft
  • Baths : 1 full
Listing Agent's Description

You don’t want to miss this newly renovated 3 bedroom 1 bathroom home with granite counter tops, soft close shaker cabinets and brand new stainless steel appliances! Home has fresh paint inside and out with brand new durable waterproof LVP floors throughout! This home also has a newer hot water heater hvac system! This home has a brand new side deck with plenty of space in the backyard for kids, a dog , or entertaining! Located just 10 minutes south of downtown Atlanta and 12 minutes away from Hartsfield Jackson Atlanta International Airport!

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #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).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • 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)

PRICE & RENT TRENDS

Neighborhood: South Atlanta

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $62k235k

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

Neighborhood: South Atlanta

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5701714

* 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
Thomas Heathe Slater Elementary School Primary Regular 556 39 3
Luther Judson Price Middle School Middle Regular 311 31 2
Carver Early College High Regular 321 17 6

Thomas Heathe Slater Elementary School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 39
3
GreatSchools Rating

Luther Judson Price Middle School

  • Education Level: Middle
  • # of students: 311
  • # of teachers: 31
2
GreatSchools Rating

Carver Early College

  • Education Level: High
  • # of students: 321
  • # of teachers: 17
6
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$909$1,111$1,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,010
EXPENSES Loan Payment -$694
Property Tax -$232
Property Insurance -$44
Property Management Fees -$119
CASH FLOW
-$79

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.

$199,900

PROJECTED PRICE

$1,010

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 3.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$2,305

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,010

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,096

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$1,010
1$1,0102$1,3253$1,3954$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 17 Turman Ave, 4 Avenue Se Atlanta, GA 1
    • 3 beds 1 baths ∙ 875 Sqft ∙ Built 1986 3 beds 1 baths ∙ 875 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,010
    • $1.15
    •  
  • 604 Thomasville Boulevard Se Atlanta, GA 2
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1981
    LEASED 02/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.20
    •  
  • 1150 Ira Street Sw Atlanta, GA 3
    • 4 beds 2 baths ∙ 1,118 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,118 Sqft ∙ Built 2003
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.25
    •  
  • 990 Custer Avenue Se Atlanta, GA 4
    • 3 beds 1 baths ∙ 1,147 Sqft ∙ Built 2001 3 beds 1 baths ∙ 1,147 Sqft ∙ Built 2001
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.22
    •  
  • 710 Thomasville Boulevard Se Atlanta, GA 5
    • 3 beds 2 baths ∙ 1,084 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,084 Sqft ∙ Built 1992
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.34
    •  
PROPERTY LISTING DETAILS
Joshua Wesley
1.678.656.2179
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6849713
Last Updated: 03/06/2021
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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