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2761 Knollberry Lane Decatur, GA 30034

4 Beds 2 Baths 1,512 sqft Built 1988

$210,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $138.89
  • 3 Days on Market
  • MLS # : 6828519
  • Updated Date : 01/16/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,512 sqft
  • Baths : 2 full
Listing Agent's Description

This 4 bedroom 2 bath newly renovated is a must see and includes a carpeted basement which adds an additional 756 sq ft of livable space (not reflective in sq footage) with an unfinished bonus room. This home has a one car garage and also has a remote entry fence for additional parking for 3 cars. Fire-side living-dining room and creek in the backyard makes this a family's dream. Fresh paint on exterior and washer and Dryer included. Minutes from downtown Atlanta.

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)
  • #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
Columbia Elementary School Primary Regular 595 39 3
Columbia Middle School Middle Regular 937 63 2
Columbia High School High Regular 1,211 68 3

Columbia Elementary School

  • Education Level: Primary
  • # of students: 595
  • # of teachers: 39
3
GreatSchools Rating

Columbia Middle School

  • Education Level: Middle
  • # of students: 937
  • # of teachers: 63
2
GreatSchools Rating

Columbia High School

  • Education Level: High
  • # of students: 1,211
  • # of teachers: 68
3
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$729
Property Tax -$303
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$152

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.

$210,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.65%

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

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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$15,298

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,174

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3503$1,3604$1,425
$1,425
RENT COMPS ANALYSIS
  • 2761 Knollberry Lane Decatur, GA 3
    • 4 beds 2 baths ∙ 1,512 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,512 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.90
    •  
  • 3891 Northstrand Drive Decatur, GA 1
    • 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 1969
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.76
    •  
  • 3464 Jessica Run Decatur, GA 2
    • 4 beds 2 baths ∙ 1,857 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,857 Sqft ∙ Built 1999
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.73
    •  
  • 2205 Chestnut Hill Circle Decatur, GA 4
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1970
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.84
    •  
PROPERTY LISTING DETAILS
Kedic Carswell
1.404.449.4652
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828519
Last Updated: 01/16/2021
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. © 2017 First Multiple Listing Service, Inc.

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