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PROPERTY INFO
FACTS
- Single Family
- Built In 1960
- Price/Sqft : $217.34
- 3 Days on Market
- MLS # : 6831449
- Updated Date : 01/23/2021 at 09:11
CONSTRUCTION
- Beds : 3
- Floor Size : 1,840 sqft
- Baths : 2 full
Listing Agent's Description
Investor special! This desirable home on a quiet cul-de-sac lot in Lakeside High School District is ready for your vision and renovation. Home has hardwood floors throughout with formal living room/dining room. There are two additional informal living rooms including a bright sunroom with charming interior brick, bay window with window seat and french doors to the patio. Attic has been framed, electrical run and plumbed for bathroom providing opportunity for expansion with additional bedrooms and bath. Neighborhood can support much higher comps. Home has lovely front
SEE MORE
- 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
Zip Code: 30345
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 30345
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,070 |
| EXPENSES | Loan Payment | -$1,389 |
| Property Tax | -$517 | |
| Property Insurance | -$63 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$18
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.
$399,900
PROJECTED PRICE
$2,070
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.09% |
| Appreciation Year (1-5) | 7.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.38% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$111,724
LOAN DETAILS
$1,389
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $99,975 |
| Loan Amount | $299,925 |
4.33
YEARS SAVED
$16,639
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,070
LIST RENT -
$1.13
LIST RENT PER SQFT
-
$2,084
COMP ESTIMATED VALUE -
$1.13
COMP AVG. RENT PER SQFT
Comps Range
-
2538 Raintee Court Atlanta, GA 3
- 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1960
- Rent
- Rent Per SQFT
- $2,070
- $1.13
-
2167 Marann Drive Ne Atlanta, GA 1
- 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1959
LEASED 05/16/20- Rent
- Rent Per SQFT
- $1,895
- $1.07
-
2215 Marann Drive Atlanta, GA 2
- 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1959
LEASED 06/21/20- Rent
- Rent Per SQFT
- $1,895
- $1.02
-
2497 Wentworth Drive Ne Atlanta, GA 4
- 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1961 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1961
LEASED 05/01/20- Rent
- Rent Per SQFT
- $2,200
- $1.10
-
2585 Raintree Drive Ne Atlanta, GA 5
- 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1959
LEASED 09/27/20- Rent
- Rent Per SQFT
- $2,550
- $1.34
PROPERTY LISTING DETAILS
1.404.314.9777
1.866.250.5610
RentVest Georgia LLC
H-75957
MLS #: 6831449
Last Updated: 01/23/2021
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.
