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1895 Wallace Road Sw Atlanta, GA 30331

5 Beds 4 Baths 3,000 sqft Built 1960

$299,900

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $99.97
  • 4 Days on Market
  • MLS # : 6857934
  • Updated Date : 03/26/2021 at 08:01
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,000 sqft
  • Baths : 4 full
Listing Agent's Description

Welcome home to this beautiful 5 bedroom, 4 bathroom home. You are going to fall in love with the open concept that flows into the gorgeous kitchen furnished with stone countertops, fireplace, and an oversized walk-in pantry. Hardwood flooring and updated paint throughout. Lower level can be used for additional entertaining, work out equipment, or a retreat for anyone to enjoy. Amazing size lot with quiet and functional back yard. **All showings will begin on Saturday, March 27th at 10am

SEE MORE

MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Sandtown

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k321k

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

Neighborhood: Sandtown

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732060

* 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
A. Phillip Randolph Elementary School Primary Regular 643 39 5
Sandtown Middle School Middle Regular 1,168 80 3
Westlake High School High Regular 2,023 116 6

A. Phillip Randolph Elementary School

  • Education Level: Primary
  • # of students: 643
  • # of teachers: 39
5
GreatSchools Rating

Sandtown Middle School

  • Education Level: Middle
  • # of students: 1,168
  • # of teachers: 80
3
GreatSchools Rating

Westlake High School

  • Education Level: High
  • # of students: 2,023
  • # of teachers: 116
6
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,042
Property Tax -$334
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$54

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.

$299,900

PROJECTED PRICE

$1,610

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$18,404

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,556

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,5993$1,610
$1,610
RENT COMPS ANALYSIS
  • 1895 Wallace Road Sw Atlanta, GA 3
    • 5 beds 4 baths ∙ 1,778 Sqft ∙ Built 1960 5 beds 4 baths ∙ 1,778 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.91
    •  
  • 4666 Edwina Lane Atlanta, GA 1
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1973
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.68
    •  
  • 5420 Red Berry Lane Sw Atlanta, GA 2
    • 4 beds 3 baths ∙ 1,488 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,488 Sqft ∙ Built 1980
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.07
    •  
PROPERTY LISTING DETAILS
Peter Marks
1.404.476.8171
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6857934
Last Updated: 03/26/2021
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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