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3149 Buford Highway Ne # 3 Brookhaven, GA 30329

2 Beds 2 Baths 1,134 sqft Built 1965

INVESTimate

$179,000

List Price

$1,690

$1,521 - $1,859

Rent Est.

$190,904  ( +6.65%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1965
  • Price/Sqft : $157.85
  • 6 Days on Market
  • MLS # : 6770758
  • Updated Date : 08/22/2020 at 08:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,134 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Welcome home to this renovated condo conveniently located in highly sought after Brookhaven w/ direct gated access to the Peachtree Creek Greenway, RARE FIND! Bright, light main level features kitchen & dining with all new stainless steel appliances. New flooring + fresh paint! You’ll love the location, the space, the peaceful patio, n’hood BBQ area & pool. Do not miss this beautiful condo under $200k. Close to I-85/GA 400/Lenox/Downtown/Skyland Park + more!

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Buford Highway

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $103k505k

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

Neighborhood: Buford Highway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9732933

* 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
Woodward Elementary School Primary Regular 1,043 69 3
Sequoyah Middle School Middle Regular 1,416 89 4
Cross Keys High School High Regular 1,316 81 5

Woodward Elementary School

  • Education Level: Primary
  • # of students: 1,043
  • # of teachers: 69
3
GreatSchools Rating

Sequoyah Middle School

  • Education Level: Middle
  • # of students: 1,416
  • # of teachers: 89
4
GreatSchools Rating

Cross Keys High School

  • Education Level: High
  • # of students: 1,316
  • # of teachers: 81
5
GreatSchools Rating
 

$161,100$196,900$179,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$660
Property Tax -$218
Property Insurance -$49
HOA -$421
Property Management Fees -$119
CASH FLOW
$223

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.

$179,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.94%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.65%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,185

INVESTMENT

$53,185

Down Payment
$44,750
Rehab Estimate
$5,750
Closing Costs
$2,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,750
Loan Amount $134,250
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$21,284

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $1,531

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6904$1,700
$1,700
RENT COMPS ANALYSIS
  • 3149 Buford Highway Ne Brookhaven, 3
    • 2 beds 2 baths ∙ 1,134 Sqft ∙ Built 1965 2 beds 2 baths ∙ 1,134 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.49
    •  
  • 976 Lindridge Drive Ne Atlanta, 1
    • 2 beds 1 baths ∙ 1,144 Sqft ∙ Built 1951 2 beds 1 baths ∙ 1,144 Sqft ∙ Built 1951
    property image
    LEASED 07/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.35
    •  
  • 1693 Beacon Hill Boulevard Ne Atlanta, 2
    • 2 beds 1 baths ∙ 1,146 Sqft ∙ Built 1950 2 beds 1 baths ∙ 1,146 Sqft ∙ Built 1950
    property image
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.39
    •  
  • 1814 N Druid Hills Road Ne Brookhaven, 4
    • 2 beds 1 baths ∙ 1,293 Sqft ∙ Built 1951 2 beds 1 baths ∙ 1,293 Sqft ∙ Built 1951
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.31
    •  
PROPERTY LISTING DETAILS
Abby Noah
1.256.328.5760
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770758
Last Updated: 08/22/2020
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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