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2814 Glenlocke Circle Nw Atlanta, GA 30318

4 Beds 3 Baths 2,767 sqft Built 2005

$315,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $113.84
  • 5 Days on Market
  • MLS # : 6802760
  • Updated Date : 10/31/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,767 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful move-in ready 4 bedroom/2.5 bath home in sought after Glenlocke Grove! Great location minutes from Battery Park, Silver Comet Trail, Atlanta Airport, Midtown and the Beltline Westside Reservoir Park which will be the City of Atlanta’s largest planned greenspace with a 280-acre park with walking trails, an open lawn and city views. The main level features an open floor plan, kitchen with new stainless steel appliances and island open to the family room with fireplace, formal living room, separate dining room, office w/built-in bookshelves and half bath.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,162
Property Tax -$394
Property Insurance -$81
HOA -$38
Property Management Fees -$119
CASH FLOW
$136

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.

$315,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.61%

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$100k$200k$300k$400k$500k$600k$700k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$19,836

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,089

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,930
1$1,9302$2,0003$2,1004$2,1505$2,600
$2,600
RENT COMPS ANALYSIS
  • 2814 Glenlocke Circle Nw Atlanta, GA 1
    • 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.70
    •  
  • 5917 Sharp Drive Se Mableton, GA 2
    • 4 beds 3 baths ∙ 3,095 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,095 Sqft ∙ Built 2007
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.65
    •  
  • 6207 Indian Woods Circle Mableton, GA 3
    • 3 beds 4 baths ∙ 2,700 Sqft ∙ Built 2005 3 beds 4 baths ∙ 2,700 Sqft ∙ Built 2005
    property image
    LEASED 07/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 1512 Justine Way Mableton, GA 4
    • 4 beds 3 baths ∙ 2,853 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,853 Sqft ∙ Built 2006
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.75
    •  
  • 5935 Sharp Drive Se Smyrna, GA 5
    • 4 beds 3 baths ∙ 3,095 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,095 Sqft ∙ Built 2007
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.84
    •  
PROPERTY LISTING DETAILS
Mark Spain
1.770.886.9000
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6802760
Last Updated: 10/31/2020
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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