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2166 Newgate Drive Decatur, GA 30035

3 Beds 3 Baths 1,751 sqft Built 1970

$210,000

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1970
  • Price/Sqft : $119.93
  • 5 Days on Market
  • MLS # : 6804616
  • Updated Date : 11/05/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,751 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Come Check Out This Beautifully Renovated Home Located In The Heart Of Decatur. This Home Features 3BR/2.5BA, A Gourmet Kitchen Equipped With Stainless Steel Appliances, Granite Countertops, Modern Backsplash, Recessed Lighting And A Lower Level Great Room Which Is Perfect For Entertaining! The Home Also Features Large Bedrooms, Washer & Dryer, Hardwood Floors Throughout And Spa Like Bathrooms. Come See It Today! It Won't Last Long!

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

Zip Code: 30035

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $75k209k

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

Zip Code: 30035

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8021509

* 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
Snapfinger Elementary School Primary Regular 834 46 2
Columbia Middle School Middle Regular 937 63 2
Columbia High School High Regular 1,211 68 3

Snapfinger Elementary School

  • Education Level: Primary
  • # of students: 834
  • # of teachers: 46
2
GreatSchools Rating

Columbia Middle School

  • Education Level: Middle
  • # of students: 937
  • # of teachers: 63
2
GreatSchools Rating

Columbia High School

  • Education Level: High
  • # of students: 1,211
  • # of teachers: 68
3
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$775
Property Tax -$303
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$48

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.

$210,000

PROJECTED PRICE

$1,210

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.0%
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$600k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$3,970

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,313

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2103$1,2454$1,2505$1,325
$1,325
RENT COMPS ANALYSIS
  • 2166 Newgate Drive Decatur, GA 2
    • 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.69
    •  
  • 4009 Kirksford Drive Decatur, GA 1
    • 3 beds 1 baths ∙ 1,584 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,584 Sqft ∙ Built 1960
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.75
    •  
  • 3986 Kirksford Drive Decatur, GA 3
    • 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1961
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.78
    •  
  • 3924 Bressler Circle Decatur, GA 4
    • 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 1969 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 1969
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.71
    •  
  • 3891 Northstrand Drive Decatur, GA 5
    • 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 1969
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.76
    •  
PROPERTY LISTING DETAILS
Kareem Henry
1.470.396.0373
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6804616
Last Updated: 11/05/2020
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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