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2377 Tiffany Place Decatur, GA 30035

3 Beds 2 Baths 2,349 sqft Built 1969

$225,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $95.79
  • 4 Days on Market
  • MLS # : 6825262
  • Updated Date : 01/08/2021 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,349 sqft
  • Baths : 2 full
Listing Agent's Description

Gorgeous Updated Traditional! An Inviting Front Porch and Foyer Entry welcome you into an Impressive Open Floorplan. Designer Lighting, Hardwood Floors, and Thoughtful Upgrades mingle to create a space truly Ideal for Entertaining. A Large Family Room overlooks a Bright, Central Dining Room. Stainless Steel Appliances shine in the Chef's Kitchen with Granite Countertops, Custom Tile Backsplash, and Island Breakfast Bar. A Sliding Farmhouse Door opens to a Flex Office or Bonus Room. Unwind in the Plush Master Suite with Private Master Bathroom. Two Additional Bedrooms

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 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
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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$782
Property Tax -$325
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
$242

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.

$225,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.68%

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$700k

PROJECTED ANNUAL CASH FLOW

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

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$23,964

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,609

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3953$1,4354$1,5405$1,550
$1,550
RENT COMPS ANALYSIS
  • 2377 Tiffany Place Decatur, GA 4
    • 3 beds 2 baths ∙ 2,349 Sqft ∙ Built 1969 3 beds 2 baths ∙ 2,349 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.66
    •  
  • 2997 Kelley Chapel Road Decatur, GA 1
    • 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 1959
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.69
    •  
  • 2311 Maryland Court Decatur, GA 2
    • 4 beds 3 baths ∙ 1,999 Sqft ∙ Built 1970 4 beds 3 baths ∙ 1,999 Sqft ∙ Built 1970
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.70
    •  
  • 3929 Emerald Springs Court Decatur, GA 3
    • 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 1973
    property image
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.67
    •  
  • 3907 Leisure Woods Dr Decatur, GA 5
    • 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 1969 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 1969
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.68
    •  
PROPERTY LISTING DETAILS
The Justin Landis Group
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6825262
Last Updated: 01/08/2021
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. © 2017 First Multiple Listing Service, Inc.

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