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2589 Star Lane Decatur, GA 30034

4 Beds 3 Baths 2,228 sqft Built 2000

$226,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $101.44
  • 4 Days on Market
  • MLS # : 6815858
  • Updated Date : 12/05/2020 at 13:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,228 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Don't miss your opportunity to own this beautiful 4 BEDROOM, 2.5 BATH, MOVE IN READY BRICK FRONT HOME! Located in a well established neighborhood in gorgeous Decatur. All new HVAC system, Hot Water Heater, Granite Countertops, subway tile backsplash and new floors in the foyer, breakfast area and kitchen. The home also features Large Bedrooms, lots of closet space, and a fenced in backyard. Close proximity to, I-285, I-20, schools, shopping, Downtown Atlanta, and more.

SEE MORE

MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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)
  • 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'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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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
 

$203,400$248,600$226,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$834
Property Tax -$326
Property Insurance -$70
HOA -$33
Property Management Fees -$119
CASH FLOW
$138

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.

$226,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.5%
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$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,640

INVESTMENT

$65,640

Down Payment
$56,500
Rehab Estimate
$5,750
Closing Costs
$3,390

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,500
Loan Amount $169,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$16,323

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,638

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5204$1,6755$1,725
$1,725
RENT COMPS ANALYSIS
  • 2589 Star Lane Decatur, GA 3
    • 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.68
    •  
  • 4410 Cross Lane Decatur, GA 1
    • 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1999
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.75
    •  
  • 3821 Leprechaun Court Decatur, GA 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
    •  
  • 3775 Glen Mora Drive Decatur, GA 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
    •  
  • 4905 Galleon Crossing Decatur, GA 5
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2003
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.69
    •  
PROPERTY LISTING DETAILS
Latoya Heath
1.907.388.6572
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6815858
Last Updated: 12/05/2020
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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