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3115 Queens Walk Ne Atlanta, GA 30345

4 Beds 3 Baths 2,680 sqft Built 1982

$485,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $180.97
  • 4 Days on Market
  • MLS # : 6827974
  • Updated Date : 01/15/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,680 sqft
  • Baths : 3 full
Listing Agent's Description

Location, Location, Location! Hard to find jewel nestled in the Briarcliff/Northlake area. Beautiful well-maintained 4 side brick home located in a quiet cul-de-sac.

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MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 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'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).
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Northlake

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k344k

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

Neighborhood: Northlake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9732169

* 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
Henderson Mill Elementary School Primary Regular 604 38 5
Henderson Middle School Middle Regular 1,578 95 6
Lakeside High School High Regular 2,048 111 7

Henderson Mill Elementary School

  • Education Level: Primary
  • # of students: 604
  • # of teachers: 38
5
GreatSchools Rating

Henderson Middle School

  • Education Level: Middle
  • # of students: 1,578
  • # of teachers: 95
6
GreatSchools Rating

Lakeside High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 111
7
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,685
Property Tax -$627
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
-$10

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$485,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$20,774

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,492

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,5004$2,5955$2,875
$2,875
RENT COMPS ANALYSIS
  • 3115 Queens Walk Ne Atlanta, GA 3
    • 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.93
    •  
  • 2777 Cravey Forest Lane Ne Atlanta, GA 1
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1980
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
  • 3208 Kings Arms Court Ne Atlanta, GA 2
    • 4 beds 3 baths ∙ 2,754 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,754 Sqft ∙ Built 1989
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.85
    •  
  • 3003 Medinah Court Atlanta, GA 4
    • 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 1967
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.95
    •  
  • 2462 Helmsdale Drive Ne Atlanta, GA 5
    • 4 beds 3 baths ∙ 2,715 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,715 Sqft ∙ Built 1966
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,875
    • $1.06
    •  
PROPERTY LISTING DETAILS
Joy Gilliam
1.770.310.9620
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6827974
Last Updated: 01/15/2021
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. © 2017 First Multiple Listing Service, Inc.

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