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1858 Lakewood Terrace Se Atlanta, GA 30315

3 Beds 2 Baths 1,546 sqft Built 2005

$249,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $161.64
  • 4 Days on Market
  • MLS # : 6807916
  • Updated Date : 11/13/2020 at 12:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,546 sqft
  • Baths : 2 full
Listing Agent's Description

Don't miss this single story home in Lakewood! This home has been refreshed with new two-tone interior paint. The foyer opens into a spacious living room with a fireplace to cozy up to. The kitchen features ample cabinet and counter space and new stainless steel appliances. The primary bedroom has a full ensuite bathroom with dual sinks, separate shower and tub and a walk in closet. Other bedrooms are spacious. Private fenced backyard with a deck area great for outdoor dining. Vacant and ready for viewing, come see!

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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$922
Property Tax -$290
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$122

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.

$249,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.60%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$18,146

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,523

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,2953$1,5104$1,6005$1,850
$1,850
RENT COMPS ANALYSIS
  • 1858 Lakewood Terrace Se Atlanta, GA 3
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.98
    •  
  • 804 Thomasville Boulevard Se Atlanta, GA 1
    • 3 beds 1 baths ∙ 1,392 Sqft ∙ Built 2008 3 beds 1 baths ∙ 1,392 Sqft ∙ Built 2008
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.92
    •  
  • 660 Thomasville Boulevard Se Atlanta, GA 2
    • 4 beds 2 baths ∙ 1,464 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,464 Sqft ∙ Built 1986
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.88
    •  
  • 42 Weyman Avenue Sw Atlanta, GA 4
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2008
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 126 Bowen Circle Sw Atlanta, GA 5
    • 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 2000
    property image
    LEASED 05/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.11
    •  
PROPERTY LISTING DETAILS
Jacqueline Shaffer
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6807916
Last Updated: 11/13/2020
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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