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263 Cooper Lake Road Se Mableton, GA 30126

2 Beds 2 Baths 1,500 sqft Built 1962

$224,900

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $149.93
  • 5 Days on Market
  • MLS # : 6803743
  • Updated Date : 11/05/2020 at 08:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,500 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Charming 4-sided Brick Ranch that is Peacefully situated far back off Cooper Lake Road. This Home sits on a 1.6 acre Lot surrounded by Beautifully Aged Trees including 3 Pecan Trees and 2 Peach Trees. You will Enjoy the Rocking Chair Front Porch, Hardwood Floors, Fireside den, Large Living room and Spacious Owner's Suite with 2 Closets. This is a Unique Opportunity to own the Largest Lot in the Cooper Hill subdivision and add Your Personal touches to this Solid Well Built Home! There is No HOA and there is Easy to access downtown, airport and shopping!

SEE MORE

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: Cooper Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $94k231k

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

Neighborhood: Cooper Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9731561

* 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
Nickajack Elementary School Primary Regular 1,126 75 7
Griffin Middle School Middle Regular 1,196 70 5
Campbell High School High Regular 2,509 135 5

Nickajack Elementary School

  • Education Level: Primary
  • # of students: 1,126
  • # of teachers: 75
7
GreatSchools Rating

Griffin Middle School

  • Education Level: Middle
  • # of students: 1,196
  • # of teachers: 70
5
GreatSchools Rating

Campbell High School

  • Education Level: High
  • # of students: 2,509
  • # of teachers: 135
5
GreatSchools Rating
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$830
Property Tax -$199
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$116

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.

$224,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$22,479

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,298

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,3203$1,395
$1,395
RENT COMPS ANALYSIS
  • 263 Cooper Lake Road Se Mableton, GA 2
    • 2 beds 2 baths ∙ 1,500 Sqft ∙ Built 1962 2 beds 2 baths ∙ 1,500 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.88
    •  
  • 5435 Mollie Lane Sw Mableton, GA 1
    • 2 beds 2 baths ∙ 1,370 Sqft ∙ Built 1964 2 beds 2 baths ∙ 1,370 Sqft ∙ Built 1964
    LEASED 12/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.80
    •  
  • 570 Concord Road Sw Smyrna, GA 3
    • 2 beds 2 baths ∙ 1,496 Sqft ∙ Built 1966 2 beds 2 baths ∙ 1,496 Sqft ∙ Built 1966
    LEASED 06/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.93
    •  
PROPERTY LISTING DETAILS
Paula Kellam
1.404.610.1603
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6803743
Last Updated: 11/05/2020
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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