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2886 Blackwood Road Decatur, GA 30033

5 Beds 3 Baths 2,146 sqft Built 1960

$479,900

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $223.63
  • 5 Days on Market
  • MLS # : 6824160
  • Updated Date : 01/09/2021 at 11:14
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,146 sqft
  • Baths : 3 full
Listing Agent's Description

Renovated Ranch in Briarlake. One level living w/surprising 5+ bedrooms & 3 baths. Open floorplan w/large kitchen and island w/seated bar. Updated fireplace w/gas logs. Gleaming hardwoods throughout. Large master or media room. Additional keeping room or office. Laundry on main. Renovated master bath & guest bath. Walkable access to Briarlake Park and Twin Lakes Swim/Tennis. Private, level fenced backyard w/hard-scaped patio, fire pit, and screened porch. Minutes to Emory, CDC, & Children's Healthcare of Atlanta. Convenient to shopping and good highway access.

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Zip Code: 30033

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $90k335k

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

Zip Code: 30033

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8802063

* 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
Briarlake Elementary School Primary Regular 401 31 6
Henderson Middle School Middle Regular 1,578 95 6
Lakeside High School High Regular 2,048 111 7

Briarlake Elementary School

  • Education Level: Primary
  • # of students: 401
  • # of teachers: 31
6
GreatSchools Rating

Henderson Middle School

  • Education Level: Middle
  • # of students: 1,578
  • # of teachers: 95
6
GreatSchools Rating

Lakeside High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 111
7
GreatSchools Rating
 

$431,910$527,890$479,900

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,667
Property Tax -$692
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$13

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.

$479,900

PROJECTED PRICE

$2,560

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
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$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,924

INVESTMENT

$132,924

Down Payment
$119,975
Rehab Estimate
$5,750
Closing Costs
$7,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,667

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,975
Loan Amount $359,925
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$21,532

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $2,967

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,560
1$2,5602$2,8003$3,0004$3,2005$3,270
$3,270
RENT COMPS ANALYSIS
  • 2886 Blackwood Road Decatur, GA 1
    • 5 beds 3 baths ∙ 2,146 Sqft ∙ Built 1960 5 beds 3 baths ∙ 2,146 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $1.19
    •  
  • 3059 Silvapine Trail Ne Atlanta, GA 2
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1964
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.40
    •  
  • 2490 Echo Drive Ne Atlanta, GA 3
    • 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 1960 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 1960
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.30
    •  
  • 2024 Hollidon Road Decatur, GA 4
    • 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 1959 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 1959
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.43
    •  
  • 2499 Fairoaks Road Decatur, GA 5
    • 4 beds 4 baths ∙ 2,338 Sqft ∙ Built 1966 4 beds 4 baths ∙ 2,338 Sqft ∙ Built 1966
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,270
    • $1.40
    •  
PROPERTY LISTING DETAILS
Linda J Hagan
1.404.537.5200
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6824160
Last Updated: 01/09/2021
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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