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2860 South Hills Riverdale, GA 30296

4 Beds 3 Baths 2,047 sqft Built 2006

$187,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $91.79
  • 3 Days on Market
  • MLS # : 6828444
  • Updated Date : 01/16/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,047 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Check out the 3D TOUR! This Newly updated home is equipped with brand new finishes; New paint, New flooring New fixtures and hardware. The open floor plan encompasses four spacious bedrooms with plenty of room for study, sleep, storage, and a sleek kitchen. Cozy up to the beautiful fireplace in the living room. The spacious fenced-in yard backyard is perfect for pets to run around and explore! The front porch is ideal for coffee in the morning.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (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)
  • 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)
  • 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: 30296

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $71k209k

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

Zip Code: 30296

ZipNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7621509

* 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
Love T. Nolan Elementary School Primary Regular 744 48 3
Ronald E. Mcnair Middle School Middle Regular 823 61 3
Creekside High School High Regular 1,635 86 4

Love T. Nolan Elementary School

  • Education Level: Primary
  • # of students: 744
  • # of teachers: 48
3
GreatSchools Rating

Ronald E. Mcnair Middle School

  • Education Level: Middle
  • # of students: 823
  • # of teachers: 61
3
GreatSchools Rating

Creekside High School

  • Education Level: High
  • # of students: 1,635
  • # of teachers: 86
4
GreatSchools Rating
 

$169,110$206,690$187,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$653
Property Tax -$209
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$502

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.

$187,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.3%
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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,544

INVESTMENT

$55,544

Down Payment
$46,975
Rehab Estimate
$5,750
Closing Costs
$2,819

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$653

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,975
Loan Amount $140,925
See What Happens When You Reinvest Cash Flow

14.75

YEARS SAVED

$46,333

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,551

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,398
1$1,3982$1,4003$1,5454$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 2860 South Hills Riverdale, GA 4
    • 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
  • 2419 Fripp Terrace Riverdale, GA 1
    • 4 beds 3 baths ∙ 1,925 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,925 Sqft ∙ Built 2004
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,398
    • $0.73
    •  
  • 2763 South Hills Riverdale, GA 2
    • 4 beds 3 baths ∙ 1,868 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,868 Sqft ∙ Built 2006
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.75
    •  
  • 7555 Volion Parkway Fairburn, GA 3
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2017
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.74
    •  
  • 2937 South Hills Riverdale, GA 5
    • 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 2015 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 2015
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.81
    •  
PROPERTY LISTING DETAILS
Zareh Najarian
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828444
Last Updated: 01/16/2021
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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