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311 Ard Place Nw Atlanta, GA 30331

3 Beds 1 Baths 1,050 sqft Built 1961

$125,000

List Price

$1,110

$999 - $1.2K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
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.

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MARKET HIGHLIGHTS

  • 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

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $45k235k

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

Neighborhood: Adamsville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5581714

* 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
 

$112,500$137,500$125,000

PURCHASE PRICE

$999$1,221$1,110

RENT

DOWN PAYMENT
FINANCING

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

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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$38,875

INVESTMENT

$38,875

Down Payment
$31,250
Rehab Estimate
$5,750
Closing Costs
$1,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$434

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $31,250
Loan Amount $93,750
See What Happens When You Reinvest Cash Flow

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
$925
1$9252$1,0953$1,110
$1,110
RENT COMPS ANALYSIS
  • 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
Christian Bardales
1.678.226.3981
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6829941
Last Updated: 01/20/2021
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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