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3135 Washington Road East Point, GA 30344

3 Beds 3 Baths 1,730 sqft Built 2006

$225,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $130.06
  • 14 Days on Market
  • MLS # : 6847981
  • Updated Date : 03/06/2021 at 16:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,730 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Charming traditional style home with large front porch. Home sits back off of the main road for added privacy. Nice size deck and backyard with plenty of privacy.

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Neighborhood: East Point

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $71k209k

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

Neighborhood: East Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7241509

* 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
Conley Hills Elementary School Primary Regular 476 38 3
Paul D. West Middle School Middle Regular 733 56 1
Tri-cities High School High Regular 1,702 111 2

Conley Hills Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 38
3
GreatSchools Rating

Paul D. West Middle School

  • Education Level: Middle
  • # of students: 733
  • # of teachers: 56
1
GreatSchools Rating

Tri-cities High School

  • Education Level: High
  • # of students: 1,702
  • # of teachers: 111
2
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$782
Property Tax -$215
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$624

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.

$225,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

15.33

YEARS SAVED

$57,639

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $3,002

    COMP ESTIMATED VALUE
  • $1.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,8003$4,000
$4,000
RENT COMPS ANALYSIS
  • 3135 Washington Road East Point, GA 2
    • 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 3409 Lee Street East Point, GA 1
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 2005
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.20
    •  
  • 1333 Eubanks Avenue East Point, GA 3
    • 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 2005
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.27
    •  
PROPERTY LISTING DETAILS
Alicia Henderson
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6847981
Last Updated: 03/06/2021
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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