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2831 Carriage Lane Atlanta, GA 30349

3 Beds 1 Baths 1,100 sqft Built 1968

$155,000

List Price

$940

$846 - $1K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $140.91
  • 5 Days on Market
  • MLS # : 6838736
  • Updated Date : 02/12/2021 at 13:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,100 sqft
  • Baths : 1 full
Listing Agent's Description

Calling all investors!!! This one is PERFECT! 4 sided brick ranch on great street in great community! Multiple exit strategies, light renovation OR keep tenant in place with instant cash flow! Ready for savvy investor, INVENTORY is KING!!! Close to airport, freeways, shopping and schools!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (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)
  • #1 Most affordable big city (WalletHub, 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)

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
 

$139,500$170,500$155,000

PURCHASE PRICE

$846$1,034$940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $940
EXPENSES Loan Payment -$538
Property Tax -$173
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
$61

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.

$155,000

PROJECTED PRICE

$940

PROJECTED RENT

0.61%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,825

INVESTMENT

$46,825

Down Payment
$38,750
Rehab Estimate
$5,750
Closing Costs
$2,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$538

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $38,750
Loan Amount $116,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$8,351

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $940

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $946

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$940
1$9402$1,0003$1,1914$1,250
$1,250
RENT COMPS ANALYSIS
  • 2831 Carriage Lane Atlanta, GA 1
    • 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $940
    • $0.85
    •  
  • 2850 Middleburg Drive Atlanta, GA 2
    • 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1970
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.86
    •  
  • 6056 Carriage Court College Park, GA 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1970
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,191
    • $0.85
    •  
  • 3335 Valley Bend Road College Park, GA 4
    • 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1971
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.87
    •  
PROPERTY LISTING DETAILS
Frank Edmondson
1.404.957.0852
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6838736
Last Updated: 02/12/2021
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. Copyright (c) 2021 First Multiple Listing Service, Inc.

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