Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2208 Ajax Drive Nw Atlanta, GA 30318

3 Beds 1 Baths 888 sqft Built 1960

INVESTimate

$135,000

List Price

$1,120

$1,008 - $1,232

Rent Est.

$137,430  ( +1.80%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $152.03
  • 8 Days on Market
  • MLS # : 6769459
  • Updated Date : 08/21/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 888 sqft
  • Baths : 1 full
Listing Agent's Description

Move-in Ready Condition. Freshly painted 3/1 in Carver Hills Community. Minutes from Midtown, Downtown, and Atlantic Station. Nearby ongoing projects including Proctor Creek Trail, Reservoir Park, Beltline, Westside Park at Bellwood Quarry. Enjoy Westside restaurants and breweries! Don't miss out on the gem!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Carver Hills

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $47k235k

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

Neighborhood: Carver Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q250060070080090010001100120013001400150016001700Rent in $4461714

* 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
William J. Scott Elementary School Primary Regular 331 28 1
Charles Lincoln Harper - Samuel Howard Archer Middle School Middle Regular 667 46 1
Frederick Douglass High School High Regular 826 66 2

William J. Scott Elementary School

  • Education Level: Primary
  • # of students: 331
  • # of teachers: 28
1
GreatSchools Rating

Charles Lincoln Harper - Samuel Howard Archer Middle School

  • Education Level: Middle
  • # of students: 667
  • # of teachers: 46
1
GreatSchools Rating

Frederick Douglass High School

  • Education Level: High
  • # of students: 826
  • # of teachers: 66
2
GreatSchools Rating
 

$121,500$148,500$135,000

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$498
Property Tax -$157
Property Insurance -$44
Property Management Fees -$119
CASH FLOW
$302

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.

$135,000

PROJECTED PRICE

$1,120

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 1.80%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$41,525

INVESTMENT

$41,525

Down Payment
$33,750
Rehab Estimate
$5,750
Closing Costs
$2,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$498

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $33,750
Loan Amount $101,250
See What Happens When You Reinvest Cash Flow

13.33

YEARS SAVED

$34,065

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,120

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $1,119

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,120
1$1,1202$1,1503$1,1504$1,1955$1,400
$1,400
RENT COMPS ANALYSIS
  • 2208 Ajax Drive Nw Atlanta, 1
    • 3 beds 1 baths ∙ 888 Sqft ∙ Built 1960 3 beds 1 baths ∙ 888 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,120
    • $1.26
    •  
  • 2625 Abner Place Nw Atlanta, 2
    • 3 beds 1 baths ∙ 864 Sqft ∙ Built 1960 3 beds 1 baths ∙ 864 Sqft ∙ Built 1960
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.33
    •  
  • 1668 Audrey Place Nw Atlanta, 3
    • 3 beds 1 baths ∙ 1,079 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,079 Sqft ∙ Built 1958
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.07
    •  
  • 2377 Arno Court Nw Atlanta, 4
    • 3 beds 1 baths ∙ 900 Sqft ∙ Built 1960 3 beds 1 baths ∙ 900 Sqft ∙ Built 1960
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.33
    •  
  • 1148 Lookout Avenue Nw Atlanta, 5
    • 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 1972
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.31
    •  
PROPERTY LISTING DETAILS
Ling Chen
1.404.202.6495
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6769459
Last Updated: 08/21/2020
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.

BESbswy