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2495 Harvel Drive Nw Atlanta, GA 30318

3 Beds 2 Baths 1,400 sqft Built 1960

$259,900

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $185.64
  • 3 Days on Market
  • MLS # : 6831362
  • Updated Date : 01/23/2021 at 10:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,400 sqft
  • Baths : 2 full
Listing Agent's Description

Amazing modern renovated brick ranch boasting 3 spacious bedrooms, 2 luxurious baths, & a huge fenced in yard! Chef's kitchen w/ quartz counters, custom cabinets, SS appliances, & tons of natural light! Retreat to the master suite w/ walk-in closet, quartz double vanity, & custom tile shower. Entertain in the open main living space w/ huge windows & sliding glass door opening to an expansive rear deck. Central location convenient to I-20 & 285! Multiple offers received. All offers must be submitted by 8pm on Sunday, January 24th 2020.

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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: Harvel

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $42k235k

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

Neighborhood: Harvel

NeighborhoodNIR Market*CityMarket2010Year20002019 Q250060070080090010001100120013001400150016001700Rent in $4471714

* 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
Usher-collier Hieghts Elementary School Primary Regular 436 31 3
Charles Lincoln Harper - Samuel Howard Archer Middle School Middle Regular 667 46 1
Frederick Douglass High School High Regular 826 66 2

Usher-collier Hieghts Elementary School

  • Education Level: Primary
  • # of students: 436
  • # of teachers: 31
3
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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$903
Property Tax -$301
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$43

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.

$259,900

PROJECTED PRICE

$1,420

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 1.8%
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$12k

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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$9,922

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,446

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,4203$1,4504$1,5105$1,675
$1,675
RENT COMPS ANALYSIS
  • 2495 Harvel Drive Nw Atlanta, GA 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.01
    •  
  • 200 Collum Street Nw Atlanta, GA 1
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1957
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.93
    •  
  • 233 W Simon Terrace Nw Atlanta, GA 3
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1955
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 80 Harlan Road Atlanta, GA 4
    • 4 beds 2 baths ∙ 1,360 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,360 Sqft ∙ Built 1950
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.11
    •  
  • 2631 Santa Barbara Drive Atlanta, GA 5
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1955
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.18
    •  
PROPERTY LISTING DETAILS
Joseph Stagnaro
1.404.402.1057
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6831362
Last Updated: 01/23/2021
support@investimateroi.com

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