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2380 Greenway Drive Decatur, GA 30035

4 Beds 4 Baths 1,844 sqft Built 1969

$245,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $132.86
  • 3 Days on Market
  • MLS # : 6838055
  • Updated Date : 02/13/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,844 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Beautiful starter home with room to grow or even use for AirBnB. This home is conveniently located minutes off I-20 and close to shopping. It is in move-in ready condition with stainless appliances, granite counter tops, luxury vinyl plank and a large bonus room that can be an in-law suite, mancave or whatever your heart desires. This home is a MUST SEE!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$851
Property Tax -$367
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$31

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.

$245,000

PROJECTED PRICE

$1,430

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$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,312

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,392

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3253$1,4304$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 2380 Greenway Drive Decatur, GA 3
    • 4 beds 4 baths ∙ 1,844 Sqft ∙ Built 1969 4 beds 4 baths ∙ 1,844 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.78
    •  
  • 3924 Bressler Circle Decatur, GA 1
    • 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 2
    • 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
    •  
  • 4166 Emerald Lake Drive Decatur, GA 4
    • 4 beds 3 baths ∙ 1,952 Sqft ∙ Built 1967 4 beds 3 baths ∙ 1,952 Sqft ∙ Built 1967
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.77
    •  
  • 3938 Emerald Springs Court Decatur, GA 5
    • 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 1972 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 1972
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
PROPERTY LISTING DETAILS
Natalie Arthur
1.404.932.7034
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6838055
Last Updated: 02/13/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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