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2499 Peachtree Road #207 Atlanta, GA 30305

2 Beds 2 Baths 1,399 sqft Built 1984

$249,900

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $178.63
  • 5 Days on Market
  • MLS # : 6854999
  • Updated Date : 03/18/2021 at 08:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,399 sqft
  • Baths : 2 full
Listing Agent's Description

South facing condo Walking distance to Publix&Shopping center Next to the beautiful Duck Pond Park the building is extremely well maintained & has an Emergency Power generator to operate all elevators garage doors, security cameras & common areas during power outage one can monitor all security cameras in your own unit. No water bill You pay for the electricity in your unit. The building is well insulated to keep the electric bills low New Stainless Refrigerator included 2 parking spaces & storage unit HOA includes hot water TV Cable exercise room & common amenities etc

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Peachtree Heights East

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $113k607k

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

Neighborhood: Peachtree Heights East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600280030003200340036003800Rent in $9733910

* 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
Garden Hills Elementary School Primary Regular 611 49 5
Willis A. Sutton Middle School Middle Regular 1,448 93 6
North Atlanta High School High Regular 1,657 102 6

Garden Hills Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 49
5
GreatSchools Rating

Willis A. Sutton Middle School

  • Education Level: Middle
  • # of students: 1,448
  • # of teachers: 93
6
GreatSchools Rating

North Atlanta High School

  • Education Level: High
  • # of students: 1,657
  • # of teachers: 102
6
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$868
Property Tax -$365
Property Insurance -$54
HOA -$545
Property Management Fees -$119
CASH FLOW
$259

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$249,900

PROJECTED PRICE

$2,210

PROJECTED RENT

0.88%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.18%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.74%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$24,180

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $1.58

    LIST RENT PER SQFT
  • $2,532

    COMP ESTIMATED VALUE
  • $1.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,210
1$2,2102$2,700
$2,700
RENT COMPS ANALYSIS
  • 2499 Peachtree Road Atlanta, GA 1
    • 2 beds 2 baths ∙ 1,399 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,399 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $1.58
    •  
  • 270 Peachtree Way Atlanta, GA 2
    • 2 beds 2 baths ∙ 1,495 Sqft ∙ Built 1977 2 beds 2 baths ∙ 1,495 Sqft ∙ Built 1977
    property image
    LEASED 03/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.81
    •  
PROPERTY LISTING DETAILS
Christian Burwell
1.404.750.2827
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6854999
Last Updated: 03/18/2021
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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