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2658 Patriots Road Riverdale, GA 30296

4 Beds 3 Baths 1,963 sqft Built 2006

$219,900

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $112.02
  • 3 Days on Market
  • MLS # : 6846793
  • Updated Date : 02/26/2021 at 23:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,963 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Great Opportunity in South Fulton, 4 bedrooms and 2.5 Baths, 2 car garage, fenced backyard with raised garden bed and firepit, kitchen with island, sunken family room with fireplace. The gas stove has a 5 eye burner. The home has a separate tub and shower. MUST SEE!

SEE MORE

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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30296

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $71k209k

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

Zip Code: 30296

ZipNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7621509

* 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
Love T. Nolan Elementary School Primary Regular 744 48 3
Ronald E. Mcnair Middle School Middle Regular 823 61 3
Creekside High School High Regular 1,635 86 4

Love T. Nolan Elementary School

  • Education Level: Primary
  • # of students: 744
  • # of teachers: 48
3
GreatSchools Rating

Ronald E. Mcnair Middle School

  • Education Level: Middle
  • # of students: 823
  • # of teachers: 61
3
GreatSchools Rating

Creekside High School

  • Education Level: High
  • # of students: 1,635
  • # of teachers: 86
4
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$764
Property Tax -$245
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$147

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.

$219,900

PROJECTED PRICE

$1,340

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.3%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$16,332

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,467

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,3403$1,3984$1,4005$1,600
$1,600
RENT COMPS ANALYSIS
  • 2658 Patriots Road Riverdale, GA 2
    • 4 beds 3 baths ∙ 1,963 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,963 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.68
    •  
  • 6818 Merrywood Drive Fairburn, GA 1
    • 3 beds 3 baths ∙ 1,652 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,652 Sqft ∙ Built 2004
    property image
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.70
    •  
  • 2419 Fripp Terrace Riverdale, GA 3
    • 4 beds 3 baths ∙ 1,925 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,925 Sqft ∙ Built 2004
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,398
    • $0.73
    •  
  • 2763 South Hills Riverdale, GA 4
    • 4 beds 3 baths ∙ 1,868 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,868 Sqft ∙ Built 2006
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.75
    •  
  • 2937 South Hills Riverdale, GA 5
    • 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 2015 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 2015
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.81
    •  
PROPERTY LISTING DETAILS
Regina Crothers
1.404.317.2048
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6846793
Last Updated: 02/26/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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