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2799 Glenlocke Way Nw Atlanta, GA 30318

4 Beds 3 Baths 2,015 sqft Built 2005

$328,900

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $163.23
  • 5 Days on Market
  • MLS # : 6824718
  • Updated Date : 01/07/2021 at 13:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,015 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This kind of spacious luxury is sure to catch your eye and heart! Located in the desirable Manor Heights neighborhood of Atlanta, this idyllic 4 bedroom, 2.5 bathroom home offers a cheery exterior and delightful interior to match. You will feel right at home in the fully equipped kitchen, with warm cabinets, recessed lighting, and matching steel appliances that will make entertaining guests a breeze. The main floor primary bedroom is accompanied by an ensuite bathroom with double vanity, upgraded tile shower, and a separate tub for relaxing in style.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Monroe Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $59k235k

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

Neighborhood: Monroe Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5171714

* 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
William J. Scott Elementary School Primary Regular 331 28 1
Charles Lincoln Harper - Samuel Howard Archer Middle School Middle Regular 667 46 1
Frederick Douglass High School High Regular 826 66 2

William J. Scott Elementary School

  • Education Level: Primary
  • # of students: 331
  • # of teachers: 28
1
GreatSchools Rating

Charles Lincoln Harper - Samuel Howard Archer Middle School

  • Education Level: Middle
  • # of students: 667
  • # of teachers: 46
1
GreatSchools Rating

Frederick Douglass High School

  • Education Level: High
  • # of students: 826
  • # of teachers: 66
2
GreatSchools Rating
 

$296,010$361,790$328,900

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,142
Property Tax -$387
Property Insurance -$66
HOA -$38
Property Management Fees -$119
CASH FLOW
$208

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.

$328,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 1.8%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,909

INVESTMENT

$92,909

Down Payment
$82,225
Rehab Estimate
$5,750
Closing Costs
$4,934

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,142

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,225
Loan Amount $246,675
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$22,938

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,914

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,9603$2,1004$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 2799 Glenlocke Way Nw Atlanta, GA 2
    • 4 beds 3 baths ∙ 2,015 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,015 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.97
    •  
  • 2664 Rosemary Street Nw Atlanta, GA 1
    • 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 2003
    property image
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
  • 1523 Justine Way Se Mableton, GA 3
    • 3 beds 3 baths ∙ 2,093 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,093 Sqft ∙ Built 2005
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 1615 Vinery Lane Se Mableton, GA 4
    • 3 beds 3 baths ∙ 2,181 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,181 Sqft ∙ Built 2006
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.96
    •  
  • 6022 Escher Lane Se Mableton, GA 5
    • 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 2007
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
PROPERTY LISTING DETAILS
Michelle Sanders
1.678.884.7933
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6824718
Last Updated: 01/07/2021
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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