Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2804 Slumber Trail Decatur, GA 30034

4 Beds 3 Baths 2,544 sqft Built 1968

$250,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $98.27
  • 4 Days on Market
  • MLS # : 6812621
  • Updated Date : 12/04/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,544 sqft
  • Baths : 3 full
Listing Agent's Description

This 4 bdrm, 3 ba split level ranch offers 3 bdrm and 2 ba on the top floor and 1 bdrm and 1 ba with a bonus room of living space and kitchenette on lower level - perfect for an in-law suite, room-mate or guest suite. Den with fireplace just off of the kitchen with sliding door into the backyard. Separate living room and dining room. Spacious front yard with a front porch. Screened porch that looks out into the sizable fenced back yard and a wooded area beyond for enjoying the outdoors. This property is within walking distance of local schools.

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 has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)

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
Rainbow Elementary School Primary Regular 426 34 3
Chapel Hill Middle School Middle Regular 854 52 4
Southwest Dekalb High School High Regular 1,275 80 4

Rainbow Elementary School

  • Education Level: Primary
  • # of students: 426
  • # of teachers: 34
3
GreatSchools Rating

Chapel Hill Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 52
4
GreatSchools Rating

Southwest Dekalb High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 80
4
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$922
Property Tax -$361
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
$122

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.

$250,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.64%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$16,302

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,747

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,6954$1,750
$1,750
RENT COMPS ANALYSIS
  • 2804 Slumber Trail Decatur, GA 2
    • 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.63
    •  
  • 3023 Blue Grass Lane Decatur, GA 1
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1971
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.66
    •  
  • 2202 Troutdale Drive Decatur, GA 3
    • 5 beds 2 baths ∙ 2,530 Sqft ∙ Built 1963 5 beds 2 baths ∙ 2,530 Sqft ∙ Built 1963
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.67
    •  
  • 3993 Snapfinger Way Decatur, GA 4
    • 5 beds 2 baths ∙ 2,412 Sqft ∙ Built 1969 5 beds 2 baths ∙ 2,412 Sqft ∙ Built 1969
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
PROPERTY LISTING DETAILS
The Dammann Team
1.404.377.9000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6812621
Last Updated: 12/04/2020
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.

BESbswy