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3026 Orbit Circle Ellenwood, GA 30294

3 Beds 2 Baths 1,459 sqft Built 1987

INVESTimate

$160,000

List Price

$1,080

$972 - $1,188

Rent Est.

$174,720  ( +9.20%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $109.66
  • 7 Days on Market
  • MLS # : 6768408
  • Updated Date : 08/24/2020 at 11:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,459 sqft
  • Baths : 2 full
Listing Agent's Description

Great Investor Special, or great First Time Home Buyer deal. Located in Ellenwood (South East Atlanta). 3 Bedrooms, 2 Full Baths, 2 Car Garage, Level Lot. Great opportunity to buy in an up and coming area. 15 minutes from East Atlanta Village! Property sold As-Is. Showings by appointment only. Home is occupied. Pet on the premises (will be in crate during showings).

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MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30294

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Zip Code: 30294

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171509

* 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
Cedar Grove Elementary School Primary Regular 590 38 2
Cedar Grove Middle School Middle Regular 864 51 3
Cedar Grove High School High Regular 1,014 59 4

Cedar Grove Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 38
2
GreatSchools Rating

Cedar Grove Middle School

  • Education Level: Middle
  • # of students: 864
  • # of teachers: 51
3
GreatSchools Rating

Cedar Grove High School

  • Education Level: High
  • # of students: 1,014
  • # of teachers: 59
4
GreatSchools Rating
 

$144,000$176,000$160,000

PURCHASE PRICE

$972$1,188$1,080

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,080
EXPENSES Loan Payment -$590
Property Tax -$242
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$73

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.

$160,000

PROJECTED PRICE

$1,080

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.20%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,150

INVESTMENT

$48,150

Down Payment
$40,000
Rehab Estimate
$5,750
Closing Costs
$2,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$590

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $40,000
Loan Amount $120,000
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$9,875

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,080

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,087

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,080
1$1,0802$1,1753$1,2654$1,3005$1,325
$1,325
RENT COMPS ANALYSIS
  • 3026 Orbit Circle Ellenwood, 1
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,080
    • $0.74
    •  
  • 3032 Orbit Circle Ellenwood, 2
    • 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1991
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.71
    •  
  • 3818 Rolling Place Conley, 3
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1989
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,265
    • $0.79
    •  
  • 3736 River Lake Shore Ellenwood, 4
    • 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 1991
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.72
    •  
  • 3633 Sugar Maple Street Decatur, 5
    • 3 beds 3 baths ∙ 1,739 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,739 Sqft ∙ Built 2004
    LEASED 04/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.76
    •  
PROPERTY LISTING DETAILS
Michelle Kitchens
1.404.545.9913
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6768408
Last Updated: 08/24/2020
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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