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2576 Abner Place Nw Atlanta, GA 30318

3 Beds 1 Baths 864 sqft Built 1960

$199,900

List Price

$1,120

$1K - $1.2K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $231.37
  • 3 Days on Market
  • MLS # : 6813265
  • Updated Date : 11/28/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 864 sqft
  • Baths : 1 full
Listing Agent's Description

WELCOME HOME! This is the perfect place to call home. This 3 bedroom, 1 bath ranch has been renovated inside and out. Open floor plan perfect for family and friends to gather. The kitchen has all stainless steel appliances, island for entertaining, granite countertops and brand new white cabinets. Brand new bathroom with details that you will love to see in person. Let's not forget about the beautiful vinyl flooring and new carpet in the bedrooms.Washer and dryer conveniently located in the hallway. Large fenced in back yard with fire pit area.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Carver Hills

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $47k235k

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

Neighborhood: Carver Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q250060070080090010001100120013001400150016001700Rent in $4461714

* 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
William J. Scott Elementary School Primary Regular 331 28 1
Charles Lincoln Harper - Samuel Howard Archer Middle School Middle Regular 667 46 1
Frederick Douglass High School High Regular 826 66 2

William J. Scott Elementary School

  • Education Level: Primary
  • # of students: 331
  • # of teachers: 28
1
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
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$738
Property Tax -$232
Property Insurance -$44
Property Management Fees -$119
CASH FLOW
-$12

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.

$199,900

PROJECTED PRICE

$1,120

PROJECTED RENT

0.56%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$6,436

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,120

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $1,138

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$1,120
1$1,1202$1,1253$1,1504$1,1955$1,195
$1,195
RENT COMPS ANALYSIS
  • 2576 Abner Place Nw Atlanta, GA 1
    • 3 beds 1 baths ∙ 864 Sqft ∙ Built 1960 3 beds 1 baths ∙ 864 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,120
    • $1.30
    •  
  • 2811 Marco Drive Nw Atlanta, GA 2
    • 3 beds 1 baths ∙ 981 Sqft ∙ Built 1959 3 beds 1 baths ∙ 981 Sqft ∙ Built 1959
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $1.15
    •  
  • 2625 Abner Place Nw Atlanta, GA 3
    • 3 beds 1 baths ∙ 864 Sqft ∙ Built 1960 3 beds 1 baths ∙ 864 Sqft ∙ Built 1960
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.33
    •  
  • 2377 Arno Court Nw Atlanta, GA 4
    • 3 beds 1 baths ∙ 900 Sqft ∙ Built 1960 3 beds 1 baths ∙ 900 Sqft ∙ Built 1960
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.33
    •  
  • 2843 Marco Drive Nw Atlanta, GA 5
    • 3 beds 1 baths ∙ 816 Sqft ∙ Built 1960 3 beds 1 baths ∙ 816 Sqft ∙ Built 1960
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.46
    •  
PROPERTY LISTING DETAILS
Kamara Williams
1.404.644.6216
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6813265
Last Updated: 11/28/2020
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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