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PROPERTY INFO
FACTS
- Single Family
- Built In 1961
- Price/Sqft : $119.05
- 6 Days on Market
- MLS # : 6829941
- Updated Date : 01/20/2021 at 08:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,050 sqft
- Baths : 1 full
Listing Agent's Description
Now available is this great property with multiple exit strategies; Buy'N'Hold, Quick fix'n'flip, an addition play, or a good little home for a first time home buyer. Currently occupied by a long term, Sec 8, tenant, who's set to leave end of February 2021. Current rent is $1050, with possibility of higher rents during this hot market. Current owner has not done any upgrades to home, purchased as-is, as an investment property. DO NOT DISTURB TENANT, access BY APPOINTMENT ONLY.
SEE MORE
- 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)
- #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
- Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
- #1 Moving Destination in the Nation (Penske, 2018)
- Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (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)
- #1 Most affordable big city (WalletHub, 2018)
PRICE & RENT TRENDS
Neighborhood: Adamsville
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Adamsville
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,110 |
| EXPENSES | Loan Payment | -$434 |
| Property Tax | -$145 | |
| Property Insurance | -$48 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$364
|
||
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.
$125,000
PROJECTED PRICE
$1,110
PROJECTED RENT
0.89%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$38,875
LOAN DETAILS
$434
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $31,250 |
| Loan Amount | $93,750 |
15.33
YEARS SAVED
$31,977
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,110
LIST RENT -
$1.06
LIST RENT PER SQFT
-
$987
COMP ESTIMATED VALUE -
$0.94
COMP AVG. RENT PER SQFT
Comps Range
-
311 Ard Place Nw Atlanta, GA 3
- 3 beds 1 baths ∙ 1,050 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,050 Sqft ∙ Built 1961
- Rent
- Rent Per SQFT
- $1,110
- $1.06
-
650 Fairburn Road Nw Atlanta, GA 1
- 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1963
LEASED 02/25/20- Rent
- Rent Per SQFT
- $925
- $0.93
-
3670 Venus Place Nw Atlanta, GA 2
- 3 beds 1 baths ∙ 1,146 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,146 Sqft ∙ Built 1960
LEASED 12/16/19- Rent
- Rent Per SQFT
- $1,095
- $0.96
PROPERTY LISTING DETAILS
1.678.226.3981
1.866.250.5610
RentVest Georgia LLC
H-75957
MLS #: 6829941
Last Updated: 01/20/2021
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.
