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1806 Charleston Avenue Se Atlanta, GA 30315

5 Beds 2 Baths 1,980 sqft Built 2002

$178,500

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $90.15
  • 3 Days on Market
  • MLS # : 6808400
  • Updated Date : 11/14/2020 at 08:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,980 sqft
  • Baths : 2 full
Listing Agent's Description

Amazing investment property 10 min from downtown and the airport 15 mins from East Atlanta Village for convenient shopping and restaurants. This home is perfect for a first-time investor looking for a Cash Flowing Cow or a nice starter home for a first-time buyer. Currently rented for $1,300 per month. A HIDDEN GEM! Don't miss this one it won’t last! Appointment Only

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Lakewood Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $65k235k

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

Neighborhood: Lakewood Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5711714

* 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
John Wesley Dobbs Elementary School Primary Regular 531 37 2
Crawford Williamson Long Middle School Middle Regular 659 54 3
South Atlanta High School High Regular NA

John Wesley Dobbs Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 37
2
GreatSchools Rating

Crawford Williamson Long Middle School

  • Education Level: Middle
  • # of students: 659
  • # of teachers: 54
3
GreatSchools Rating

South Atlanta High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$160,650$196,350$178,500

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$659
Property Tax -$207
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$590

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.

$178,500

PROJECTED PRICE

$1,640

PROJECTED RENT

0.92%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.4%
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$200k$400k$600k$800k

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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,053

INVESTMENT

$53,053

Down Payment
$44,625
Rehab Estimate
$5,750
Closing Costs
$2,678

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$659

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,625
Loan Amount $133,875
See What Happens When You Reinvest Cash Flow

16.42

YEARS SAVED

$57,525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,973

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6403$1,8004$1,950
$1,950
RENT COMPS ANALYSIS
  • 1806 Charleston Avenue Se Atlanta, GA 2
    • 5 beds 2 baths ∙ 1,980 Sqft ∙ Built 2002 5 beds 2 baths ∙ 1,980 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.83
    •  
  • 150 Turman Avenue Se Atlanta, GA 1
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2006
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.74
    •  
  • 1186 Se Vickers Street Se Atlanta, GA 3
    • 4 beds 3 baths ∙ 1,676 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,676 Sqft ∙ Built 1988
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.07
    •  
  • 1682 Woodland Avenue Atlanta, GA 4
    • 4 beds 3 baths ∙ 1,658 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,658 Sqft ∙ Built 2005
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.18
    •  
PROPERTY LISTING DETAILS
Thomas Clarke
1.404.939.1257
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808400
Last Updated: 11/14/2020
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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