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2649 Cloud Lane Decatur, GA 30034

3 Beds 3 Baths 1,756 sqft Built 1990

$189,900

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $108.14
  • 1 Days on Market
  • MLS # : 6808981
  • Updated Date : 11/14/2020 at 21:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,756 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Move right in to this Decatur brick front traditional home! Located in a neighborhood with tree lined streets and sidewalks to go for that morning run or walk. Close to everything for an easy in town commute. Updated floors stand out as soon as you walk in the front door. You will love the large family room on those cozy winter nights in front of your fire place! Home has an equally large great room on the other side for a formal sitting area or just a second living room! Great kitchen right in the center with sliders going out to your large deck. Second floor has 2 lar

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$701
Property Tax -$274
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$125

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.

$189,900

PROJECTED PRICE

$1,280

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

PROJECTED ANNUAL CASH FLOW

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

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$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$15,217

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,357

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,280
1$1,2802$1,5003$1,5504$1,5505$1,680
$1,680
RENT COMPS ANALYSIS
  • 2649 Cloud Lane Decatur, GA 1
    • 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.73
    •  
  • 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
    •  
  • 3938 Emerald Springs Court Decatur, GA 3
    • 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 1972 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 1972
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 2324 Maryland Court Decatur, GA 4
    • 4 beds 3 baths ∙ 1,999 Sqft ∙ Built 1970 4 beds 3 baths ∙ 1,999 Sqft ∙ Built 1970
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 3524 Charleston Court Decatur, GA 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
Shawn Sullivan
1.781.710.2506
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808981
Last Updated: 11/14/2020
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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