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3028 Baker Ridge Drive Nw Atlanta, GA 30318

2 Beds 2 Baths 1,256 sqft Built 1960

$160,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $127.39
  • 2 Days on Market
  • MLS # : 6837360
  • Updated Date : 02/06/2021 at 12:10
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,256 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Historic Collier Heights cutie! Perfect basement home needing some updates features two bedrooms, 1-1/2 bathrooms and well maintained original hardwood floors in living room, dining room and bedrooms. The family room is open to the eat in kitchen and features glass sliders with a metal screened door that leads out to the enclosed patio. A secondary patio opens onto a large lovely landscaped fenced backyard. Welcome home!!!

SEE MORE

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

Neighborhood: Collier Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $64k235k

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

Neighborhood: Collier Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5031714

* 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
Usher-collier Hieghts Elementary School Primary Regular 436 31 3
Charles Lincoln Harper - Samuel Howard Archer Middle School Middle Regular 667 46 1
Frederick Douglass High School High Regular 826 66 2

Usher-collier Hieghts Elementary School

  • Education Level: Primary
  • # of students: 436
  • # of teachers: 31
3
GreatSchools Rating

Charles Lincoln Harper - Samuel Howard Archer Middle School

  • Education Level: Middle
  • # of students: 667
  • # of teachers: 46
1
GreatSchools Rating

Frederick Douglass High School

  • Education Level: High
  • # of students: 826
  • # of teachers: 66
2
GreatSchools Rating
 

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

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$556
Property Tax -$185
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$418

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

$1,330

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) -1.4%
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$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$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$50k$100k$150k$200k$250k$300k

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

$556

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $40,000
Loan Amount $120,000
See What Happens When You Reinvest Cash Flow

14.42

YEARS SAVED

$38,724

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,398

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,1453$1,3004$1,330
$1,330
RENT COMPS ANALYSIS
  • 3028 Baker Ridge Drive Nw Atlanta, GA 4
    • 2 beds 2 baths ∙ 1,256 Sqft ∙ Built 1960 2 beds 2 baths ∙ 1,256 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.06
    •  
  • 490 Woods Drive Nw Atlanta, GA 1
    • 2 beds 1 baths ∙ 950 Sqft ∙ Built 1955 2 beds 1 baths ∙ 950 Sqft ∙ Built 1955
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $1.15
    •  
  • 928 Magna Carta Drive Nw Atlanta, GA 2
    • 2 beds 2 baths ∙ 1,075 Sqft ∙ Built 1970 2 beds 2 baths ∙ 1,075 Sqft ∙ Built 1970
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $1.07
    •  
  • 2595 Loghaven Drive Nw Atlanta, GA 3
    • 2 beds 1 baths ∙ 1,161 Sqft ∙ Built 1958 2 beds 1 baths ∙ 1,161 Sqft ∙ Built 1958
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.12
    •  
PROPERTY LISTING DETAILS
Jamaille Sanderson
1.678.203.0009
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6837360
Last Updated: 02/06/2021
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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