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2578 Lavender Court Decatur, GA 30034

3 Beds 3 Baths 1,976 sqft Built 1994

INVESTimate

$158,000

List Price

$1,480

$1,332 - $1,628

Rent Est.

$173,026  ( +9.51%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $79.96
  • 6 Days on Market
  • MLS # : 6750578
  • Updated Date : 08/25/2020 at 18:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,976 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This two-story home is in a GREAT location just minutes from I-20 and I-285. 3 bedroom, 2.5 baths with large master suite, walk-in closet, separate garden tub and shower. The kitchen features a beautiful bay window with breakfast bar, Separate living room, dining room and family room with fireplace.Swim/tennis community. Minutes to shopping and dining. This home has good bones but needs some TLC. Perfect for a handy person, has lots of potential. Bring your vision! This home is being sold as-is

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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

Zip Code: 30034

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $81k209k

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

Zip Code: 30034

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171509

* 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
Rainbow Elementary School Primary Regular 426 34 3
Chapel Hill Middle School Middle Regular 854 52 4
Southwest Dekalb High School High Regular 1,275 80 4

Rainbow Elementary School

  • Education Level: Primary
  • # of students: 426
  • # of teachers: 34
3
GreatSchools Rating

Chapel Hill Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 52
4
GreatSchools Rating

Southwest Dekalb High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 80
4
GreatSchools Rating
 

$142,200$173,800$158,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$583
Property Tax -$251
Property Insurance -$65
HOA -$33
Property Management Fees -$119
CASH FLOW
$428

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.

$158,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.94%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.51%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$47,620

INVESTMENT

$47,620

Down Payment
$39,500
Rehab Estimate
$5,750
Closing Costs
$2,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $39,500
Loan Amount $118,500
See What Happens When You Reinvest Cash Flow

14.25

YEARS SAVED

$43,748

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,546

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5003$1,6504$1,6755$1,680
$1,680
RENT COMPS ANALYSIS
  • 2578 Lavender Court Decatur, 1
    • 3 beds 3 baths ∙ 1,976 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,976 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.75
    •  
  • 3821 Leprechaun Court Decatur, 2
    • 4 beds 2 baths ∙ 2,067 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,067 Sqft ∙ Built 2002
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.73
    •  
  • 3516 Springrun Drive Decatur, 3
    • 4 beds 3 baths ∙ 1,996 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,996 Sqft ∙ Built 2006
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 3775 Glen Mora Drive Decatur, 4
    • 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1983
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.77
    •  
  • 3524 Charleston Court Decatur, 5
    • 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 1996
    LEASED 06/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.80
    •  
PROPERTY LISTING DETAILS
Mark Spain
1.770.886.9000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6750578
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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