Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3046 Tribble Lane Nw Atlanta, GA 30311

3 Beds 2 Baths 1,380 sqft Built 1962

INVESTimate

$158,000

List Price

$1,040

$936 - $1,144

Rent Est.

$166,880  ( +5.62%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1962
  • Price/Sqft : $114.49
  • 59 Days on Market
  • MLS # : 6720208
  • Updated Date : 08/25/2020 at 16:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,380 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Excellent investment opportunity! Great rental or first time home buyer! Brand NEW ROOF! Original 1960's brick home with the original hardwood floors. Convenient location and easy access to I-285 & I-20. House is in great condition! Updated Photos Coming Soon!

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Southwest Atlanta

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $73k235k

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

Neighborhood: Southwest Atlanta

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8171714

* 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
Margaret Fain Elementary School Primary Regular 540 34 1
Charles Lincoln Harper - Samuel Howard Archer Middle School Middle Regular 667 46 1
Frederick Douglass High School High Regular 826 66 2

Margaret Fain Elementary School

  • Education Level: Primary
  • # of students: 540
  • # of teachers: 34
1
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
 

$142,200$173,800$158,000

PURCHASE PRICE

$936$1,144$1,040

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,040
EXPENSES Loan Payment -$583
Property Tax -$183
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$101

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.

$158,000

PROJECTED PRICE

$1,040

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.62%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$47,620

INVESTMENT

$47,620

Down Payment
$39,500
Rehab Estimate
$5,750
Closing Costs
$2,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $39,500
Loan Amount $118,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$13,239

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,040

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,187

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,0403$1,1504$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 3046 Tribble Lane Nw Atlanta, 2
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,040
    • $0.75
    •  
  • 2817 Burton Road Atlanta, 1
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1945
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.86
    •  
  • 80 Harlan Road Atlanta, 3
    • 4 beds 2 baths ∙ 1,360 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,360 Sqft ∙ Built 1950
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.85
    •  
  • 254 Simon Terrace Nw Atlanta, 4
    • 4 beds 3 baths ∙ 1,712 Sqft ∙ Built 1955 4 beds 3 baths ∙ 1,712 Sqft ∙ Built 1955
    LEASED 03/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 115 Peyton Road Sw Atlanta, 5
    • 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1969
    LEASED 07/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
PROPERTY LISTING DETAILS
Bob Clarkson
1.404.901.1670
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6720208
Last Updated: 08/25/2020
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.

BESbswy