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2883 Fantasy Lane Decatur, GA 30033

3 Beds 2 Baths 1,431 sqft Built 1961

$327,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $229.14
  • 14 Days on Market
  • MLS # : 6858211
  • Updated Date : 03/27/2021 at 12:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,431 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Welcome home to your modern, updated ranch on a quiet cul-de-sac road just minutes away from Emory, CDC, and Downtown Decatur! This light-filled home has updated kitchen and baths, hardwoods throughout, high efficiency windows, newer appliances and paint. There’s a large bonus room/den/office that some have made into a 2nd master bedroom with bath, and a wonderful deck overlooking the large fenced, flat backyard.

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)
  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Greater Valley Brook

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $90k224k

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

Neighborhood: Greater Valley Brook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290095010001050110011501200125013001350140014501500Rent in $8801536

* 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
Mclendon Elementary School Primary Regular 393 32 3
Druid Hills Middle School Middle Regular 902 67 6
Druid Hills High School High Regular 1,386 88 5

Mclendon Elementary School

  • Education Level: Primary
  • # of students: 393
  • # of teachers: 32
3
GreatSchools Rating

Druid Hills Middle School

  • Education Level: Middle
  • # of students: 902
  • # of teachers: 67
6
GreatSchools Rating

Druid Hills High School

  • Education Level: High
  • # of students: 1,386
  • # of teachers: 88
5
GreatSchools Rating
 

$295,110$360,690$327,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,139
Property Tax -$473
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$64

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$327,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,644

INVESTMENT

$92,644

Down Payment
$81,975
Rehab Estimate
$5,750
Closing Costs
$4,919

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,139

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,975
Loan Amount $245,925
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$16,123

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.29

    LIST RENT PER SQFT
  • $1,871

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,8003$1,8504$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 2883 Fantasy Lane Decatur, GA 3
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.29
    •  
  • 2676 Woodridge Drive Decatur, GA 1
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1953
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.20
    •  
  • 2968 Fantasy Lane Decatur, GA 2
    • 4 beds 2 baths ∙ 1,484 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,484 Sqft ∙ Built 1961
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.21
    •  
  • 2704 Harrington Drive Decatur, GA 4
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1954
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.37
    •  
  • 2734 Hollywood Drive Decatur, GA 5
    • 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 1955
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.45
    •  
PROPERTY LISTING DETAILS
Kirsten Conover
1.404.386.1103
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6858211
Last Updated: 03/27/2021
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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