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2500 Mobley Court Se Atlanta, GA 30315

3 Beds 2 Baths 1,680 sqft Built 1962

INVESTimate

$199,000

List Price

$1,370

$1,233 - $1,507

Rent Est.

$215,537  ( +8.31%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $118.45
  • 2 Days on Market
  • MLS # : 6761909
  • Updated Date : 08/25/2020 at 09:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 2 full
Listing Agent's Description

Coming soon! Beautifully renovated ranch in Brownsville Park.

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Browns Mill Park

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $54k235k

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

Neighborhood: Browns Mill Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5771714

* 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
Cleveland Avenue Elementary School Primary Regular 365 34 5
Crawford Williamson Long Middle School Middle Regular 659 54 3
South Atlanta High School High Regular NA

Cleveland Avenue Elementary School

  • Education Level: Primary
  • # of students: 365
  • # of teachers: 34
5
GreatSchools Rating

Crawford Williamson Long Middle School

  • Education Level: Middle
  • # of students: 659
  • # of teachers: 54
3
GreatSchools Rating

South Atlanta High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$734
Property Tax -$231
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$226

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.

$199,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.31%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$27,715

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,394

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,175
1$1,1752$1,3003$1,3704$1,3755$1,395
$1,395
RENT COMPS ANALYSIS
  • 2500 Mobley Court Se Atlanta, 3
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.82
    •  
  • 2695 Altaview Drive Se Atlanta, 1
    • 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1958
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.74
    •  
  • 2339 Carey Drive Se Atlanta, 2
    • 4 beds 2 baths ∙ 1,489 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,489 Sqft ∙ Built 1950
    property image
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.87
    •  
  • 2786 Altaview Drive Se Atlanta, 4
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1960
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.92
    •  
  • 16 Bromack Drive Se Atlanta, 5
    • 4 beds 2 baths ∙ 1,775 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,775 Sqft ∙ Built 1960
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.79
    •  
PROPERTY LISTING DETAILS
Maggie Cook
1.770.765.6491
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6761909
Last Updated: 08/25/2020
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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