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2780 Flat Shoals Road Atlanta, GA 30349

2 Beds 2 Baths 1,290 sqft Built 1987

$119,000

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $92.25
  • 4 Days on Market
  • MLS # : 6814879
  • Updated Date : 12/05/2020 at 18:28
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,290 sqft
  • Baths : 2 full
Listing Agent's Description

GREAT OPPORTUNITY FOR A HOME BUYER OR INVESTOR LOOKING FOR A BUY AND HOLD. GREAT 2 BEDROOM 2 BATHROOM HOME. PRICED THOUSANDS BELOW MARKET VALUE.. CARPET AND PAINT UPGRADE..MOVE RIGHT IN!! YOU WILL NOT FIND A BETTER OPPORTUNITY AT THIS PRICE! 10 MINS FROM THE AIRPORT. CLOSE TO OLD NATIONAL, WALMART, SHOPPING, EVERYTHING YOU NEED IN MINS AWAY. !! CHECK THE COMPS! THIS ONE IS A STEAL! WILL NOT LAST LONG!! CASH OR CONVENTIONAL FINANCING PRIORITY!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$107,100$130,900$119,000

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$439
Property Tax -$133
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$457

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.

$119,000

PROJECTED PRICE

$1,200

PROJECTED RENT

1.01%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$37,285

INVESTMENT

$37,285

Down Payment
$29,750
Rehab Estimate
$5,750
Closing Costs
$1,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $29,750
Loan Amount $89,250
See What Happens When You Reinvest Cash Flow

17.5

YEARS SAVED

$40,869

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,213

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2303$1,295
$1,295
RENT COMPS ANALYSIS
  • 2780 Flat Shoals Road Atlanta, GA 1
    • 2 beds 2 baths ∙ 1,290 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,290 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.93
    •  
  • 2984 Falling Water Point Atlanta, GA 2
    • 2 beds 3 baths ∙ 1,176 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,176 Sqft ∙ Built 2002
    property image
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.05
    •  
  • 2325 Bigwood Trail Atlanta, GA 3
    • 2 beds 3 baths ∙ 1,568 Sqft ∙ Built 2007 2 beds 3 baths ∙ 1,568 Sqft ∙ Built 2007
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.83
    •  
PROPERTY LISTING DETAILS
Hakiim Herring
1.470.412.4707
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6814879
Last Updated: 12/05/2020
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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