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2198 Weldonberry Drive Ne Brookhaven, GA 30319

3 Beds 4 Baths 1,845 sqft Built 2008

$415,000

List Price

$2,770

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $224.93
  • 4 Days on Market
  • MLS # : 6810591
  • Updated Date : 11/20/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,845 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

The most well-placed end unit within the best gated townhouse community in Brookhaven. 2198 Weldonberry Drive hasn't hit the open market since initial sale from builder. This unit is better than new with two brand new HVAC units (2 new furnaces in attic, 2 new exterior units, 3 new control panels - each floor is a unique zone), new rear deck (overlooking peaceful greenspace), upgraded Carrera marble fireplace, and freshly painted interior and exterior. The bright and open main floor features an open-concept kitchen, breakfast room, and living room.

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)
  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Brookhaven Fields

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $103k505k

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

Neighborhood: Brookhaven Fields

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9732933

* 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
Woodward Elementary School Primary Regular 1,043 69 3
Sequoyah Middle School Middle Regular 1,416 89 4
Cross Keys High School High Regular 1,316 81 5

Woodward Elementary School

  • Education Level: Primary
  • # of students: 1,043
  • # of teachers: 69
3
GreatSchools Rating

Sequoyah Middle School

  • Education Level: Middle
  • # of students: 1,416
  • # of teachers: 89
4
GreatSchools Rating

Cross Keys High School

  • Education Level: High
  • # of students: 1,316
  • # of teachers: 81
5
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,493$3,047$2,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,770
EXPENSES Loan Payment -$1,531
Property Tax -$531
Property Insurance -$63
HOA -$265
Property Management Fees -$119
CASH FLOW
$261

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.

$415,000

PROJECTED PRICE

$2,770

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$38,008

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,770

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $2,792

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$2,770
1$2,7702$3,0003$3,3004$3,300
$3,300
RENT COMPS ANALYSIS
  • 2198 Weldonberry Drive Ne Brookhaven, GA 1
    • 3 beds 4 baths ∙ 1,845 Sqft ∙ Built 2008 3 beds 4 baths ∙ 1,845 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,770
    • $1.50
    •  
  • 1294 Sunland Drive Brookhaven, GA 2
    • 3 beds 3 baths ∙ 2,030 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,030 Sqft ∙ Built 2012
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.48
    •  
  • 2695 Rivers Edge Drive Ne Atlanta, GA 3
    • 3 beds 4 baths ∙ 2,145 Sqft ∙ Built 2004 3 beds 4 baths ∙ 2,145 Sqft ∙ Built 2004
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.54
    •  
  • 1094 Fairway Gardens Ne Brookhaven, GA 4
    • 3 beds 3 baths ∙ 2,172 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,172 Sqft ∙ Built 1995
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.52
    •  
PROPERTY LISTING DETAILS
Jefferson Hopkins
1.678.588.3013
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6810591
Last Updated: 11/20/2020
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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