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1806 Charleston Avenue Se Atlanta, GA 30315

5 Beds 2 Baths 1,980 sqft Built 2002

$178,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $90.35
  • 4 Days on Market
  • MLS # : 6805494
  • Updated Date : 11/06/2020 at 08:01
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

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 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
 

$161,010$196,790$178,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$660
Property Tax -$207
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$638

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.

$178,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.94%

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$53,159

INVESTMENT

$53,159

Down Payment
$44,725
Rehab Estimate
$5,750
Closing Costs
$2,684

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,725
Loan Amount $134,175
See What Happens When You Reinvest Cash Flow

17.08

YEARS SAVED

$59,895

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,973

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6903$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
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.85
    •  
  • 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
    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
    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
    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 #: 6805494
Last Updated: 11/06/2020
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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