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3061 Parkland View Atlanta, GA 30331

4 Beds 3 Baths 2,896 sqft Built 2015

$335,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $115.68
  • 4 Days on Market
  • MLS # : 6836751
  • Updated Date : 02/06/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,896 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Look no further! This is the home. Located in a Swim, Tennis & Clubhouse Community in South Fulton Area. Highly-sought out Westlake High school district! Gorgeous floor-plan home with hardwood floor throughout the entire main floor! Large four bedroom, three-full bathroom .Spacious living room for entertaining .Separate living and dining features coffered ceiling & wainscoting. Cozy family room w/ fireplace opens to kitchen cabinets, stainless steel appliances, granite c'tops, & tile backsplash. This is the home you do not want to miss.

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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: 30331

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $82k235k

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

Zip Code: 30331

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7971714

* 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
Stonewall Tell Elementary School Primary Regular 1,120 63 7
Sandtown Middle School Middle Regular 1,168 80 3
Westlake High School High Regular 2,023 116 6

Stonewall Tell Elementary School

  • Education Level: Primary
  • # of students: 1,120
  • # of teachers: 63
7
GreatSchools Rating

Sandtown Middle School

  • Education Level: Middle
  • # of students: 1,168
  • # of teachers: 80
3
GreatSchools Rating

Westlake High School

  • Education Level: High
  • # of students: 2,023
  • # of teachers: 116
6
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,164
Property Tax -$373
Property Insurance -$83
HOA -$42
Property Management Fees -$119
CASH FLOW
$209

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.

$335,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.1%
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

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$23,235

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,998

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,785
1$1,7852$1,8253$1,9904$1,9995$2,300
$2,300
RENT COMPS ANALYSIS
  • 3061 Parkland View Atlanta, GA 3
    • 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.69
    •  
  • 6483 Stonelake Place Atlanta, GA 1
    • 5 beds 3 baths ∙ 2,624 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,624 Sqft ∙ Built 2005
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.68
    •  
  • 430 Brookford Court Atlanta, GA 2
    • 3 beds 3 baths ∙ 2,856 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,856 Sqft ∙ Built 2007
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.64
    •  
  • 2785 Sw Stonewall Lane Atlanta, GA 4
    • 5 beds 3 baths ∙ 3,022 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,022 Sqft ∙ Built 2004
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.66
    •  
  • 535 Pierpoint Drive Atlanta, GA 5
    • 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 2010
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
PROPERTY LISTING DETAILS
Anequa Garmon
1.404.621.6095
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6836751
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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