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2703 Carriage Lane Atlanta, GA 30349

3 Beds 2 Baths 1,071 sqft Built 1966

$185,000

List Price

$1,110

$999 - $1.2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $172.74
  • 2 Days on Market
  • MLS # : 6811700
  • Updated Date : 11/21/2020 at 19:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,071 sqft
  • Baths : 2 full
Listing Agent's Description

This gorgeous home is located within a great South Fulton community. This brick split level beauty is complete with hardwood flooring, stainless appliances, granite counter tops and so much more! The checklist is complete when the convenient location is considered...minutes to restaurants, shops, groceries and the interstate.

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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)

PRICE & RENT TRENDS

Zip Code: 30349

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $82k235k

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

Zip Code: 30349

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8171714

* 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
Mary M. Bethune Elementary School Primary Regular 747 47 2
Ronald E. Mcnair Middle School Middle Regular 823 61 3
Benjamin Banneker High School High Regular 1,411 104 2

Mary M. Bethune Elementary School

  • Education Level: Primary
  • # of students: 747
  • # of teachers: 47
2
GreatSchools Rating

Ronald E. Mcnair Middle School

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

Benjamin Banneker High School

  • Education Level: High
  • # of students: 1,411
  • # of teachers: 104
2
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$999$1,221$1,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,110
EXPENSES Loan Payment -$683
Property Tax -$206
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
$54

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.

$185,000

PROJECTED PRICE

$1,110

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.7%
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

PROJECTED ANNUAL CASH FLOW

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

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$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$10,641

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,110

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $925

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,1103$1,1914$1,200
$1,200
RENT COMPS ANALYSIS
  • 2703 Carriage Lane Atlanta, GA 2
    • 3 beds 2 baths ∙ 1,071 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,071 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $1,110
    • $1.04
    •  
  • 2850 Middleburg Drive Atlanta, GA 1
    • 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1970
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.86
    •  
  • 6056 Carriage Court College Park, GA 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1970
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,191
    • $0.85
    •  
  • 6445 Connell Road Atlanta, GA 4
    • 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1970
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Madinah Thompson
1.404.593.1330
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6811700
Last Updated: 11/21/2020
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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