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2857 Regal Park Nw Unit 3 Atlanta, GA 30318

3 Beds 3 Baths 1,465 sqft Built 2021

$297,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $202.73
  • 5 Days on Market
  • MLS # : No MLS Number
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,465 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tobin

Listing Agent's Description

PROPERTY ADDRESS 1464 NORTHWEST PARKWAY - HOMES NOT YET BUILT ****ASK ABOUT OUR INCLUDED APPLIANCE PACKAGE FOR THE FIRST 3 BUYERS The Manchester Floor Plan by Brock Built Homes Available March 2021 EXTERIOR UNIT INTERIOR UNIT HOA FEE TBD Nestled within an established residential community less than ten minutes from downtown Atlanta and Smyrna, The Park at Monroe’s town homes offer residents convenience, character and familiarity. This hidden gem of a neighborhood welcomes you onto a cozy covered patio that leads you into a spacious foyer. An open concept kitchen and living space is perfect for relaxing and entertaining. The main floor is also equipped with a 1 car garage, driveway pad and fenced patio on the back of the home. Follow the two story landing up the stairs from the main floor and you will find two guest bedrooms with a shared guest bathroom and an easy to access laundry room. The master bedroom boasts elegant details along with an suite that includes a double vanity, large glass shower and over sized walk in closet. Every home in this neighborhood features the same superior craftsmanship indicative of Brock Built Homes, The Park at Monroe is a true treasure waiting to be found and is perfect for first time homeowners. The Park at Monroe neighborhood offers low home maintenance, new construction warranty and is priced below $300K!

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MARKET HIGHLIGHTS

  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • 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 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: West Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $82k350k

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

Neighborhood: West Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200Rent in $8172303

* 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 M. Boyd Elementary School Primary Regular 505 32 2
Charles Lincoln Harper - Samuel Howard Archer Middle School Middle Regular 667 46 1
Frederick Douglass High School High Regular 826 66 2

William M. Boyd Elementary School

  • Education Level: Primary
  • # of students: 505
  • # of teachers: 32
2
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
 

$267,300$326,700$297,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,032
Property Tax -$248
Property Insurance -$56
HOA -$150
Property Management Fees -$119
CASH FLOW
$596

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$297,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 11.9%
Maintenance Year (1-5) 3.00%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,705

INVESTMENT

$80,705

Down Payment
$74,250
Rehab Estimate
$2,000
Closing Costs
$4,455

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,032

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,250
Loan Amount $222,750
See What Happens When You Reinvest Cash Flow

13.25

YEARS SAVED

$65,760

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Mynd
Tobin
BESbswy