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2935 Laurel Lane East Point, GA 30344

3 Beds 2 Baths 1,550 sqft Built 2013

$285,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $183.87
  • 2 Days on Market
  • MLS # : 6851703
  • Updated Date : 03/13/2021 at 13:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,550 sqft
  • Baths : 2 full
Listing Agent's Description

Completely new, open concept 3 bedroom 2 bathroom home with beautiful crisp white kitchen with new quality cabinets, custom quartz, and stainless steel appliances overlooking the family room. Oversized master bedroom with dual vanities in the bathroom and full walk-in closet. Lighting has been completely upgraded and can lights added throughout give plenty of light in addition to the natural light that cascades into the home. Engineered hardwood floors throughout the entire home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: East Point

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $71k209k

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

Neighborhood: East Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7241509

* 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
Conley Hills Elementary School Primary Regular 476 38 3
Paul D. West Middle School Middle Regular 733 56 1
Tri-cities High School High Regular 1,702 111 2

Conley Hills Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 38
3
GreatSchools Rating

Paul D. West Middle School

  • Education Level: Middle
  • # of students: 733
  • # of teachers: 56
1
GreatSchools Rating

Tri-cities High School

  • Education Level: High
  • # of students: 1,702
  • # of teachers: 111
2
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$990
Property Tax -$255
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$439

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.

$285,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.1%
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$1.0M$1.2M

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

11.25

YEARS SAVED

$49,502

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $2,439

    COMP ESTIMATED VALUE
  • $1.57

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6753$1,8604$4,000
$4,000
RENT COMPS ANALYSIS
  • 2935 Laurel Lane East Point, GA 3
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $1.20
    •  
  • 2520 Judson Avenue East Point, GA 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2020
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.25
    •  
  • 3409 Lee Street East Point, GA 2
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 2005
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.20
    •  
  • 1333 Eubanks Avenue East Point, GA 4
    • 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 2005
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.27
    •  
PROPERTY LISTING DETAILS
Brandon Patterson
1.404.824.5151
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6851703
Last Updated: 03/13/2021
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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