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2273 Emerald Falls Drive Decatur, GA 30035

3 Beds 2 Baths 1,577 sqft Built 1969

$175,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $110.97
  • 3 Days on Market
  • MLS # : 6799384
  • Updated Date : 11/28/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,577 sqft
  • Baths : 2 full
Listing Agent's Description

Nestled away on a quiet residential thoroughfare just outside the perimeter 2273 Emerald Falls combines modern amenities, a wide-open modern floor plan, and a location with convenient access to highways and major surface streets for easy commuting. Go ask your agent if this is true: Do some sellers intentionally set a low price when they want to sell quickly? It doesn't happen often, but the answer here is "YES". Priced at $175,000 to bring instant attention this one will not last long. This one for and ALL "buy and hold" investors:

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 Most affordable big city (WalletHub, 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'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)

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
Canby Lane Elementary School Primary Regular 662 40 3
Mary Mcleod Bethune Middle School Middle Regular 902 53 3
Towers High School High Regular 1,001 64 2

Canby Lane Elementary School

  • Education Level: Primary
  • # of students: 662
  • # of teachers: 40
3
GreatSchools Rating

Mary Mcleod Bethune Middle School

  • Education Level: Middle
  • # of students: 902
  • # of teachers: 53
3
GreatSchools Rating

Towers High School

  • Education Level: High
  • # of students: 1,001
  • # of teachers: 64
2
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$646
Property Tax -$285
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$203

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.

$175,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.75%

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$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$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$22,371

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,151

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2003$1,2504$1,3105$1,325
$1,325
RENT COMPS ANALYSIS
  • 2273 Emerald Falls Drive Decatur, GA 4
    • 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.83
    •  
  • 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
    •  
  • 3894 Maplewood Drive Decatur, GA 2
    • 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 1967
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.70
    •  
  • 3924 Bressler Circle Decatur, GA 3
    • 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
Joshua Keen
1.404.538.5356
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6799384
Last Updated: 11/28/2020
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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