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3261 Wellington Walk Sw Atlanta, GA 30331

4 Beds 3 Baths 1,840 sqft Built 2005

INVESTimate

$225,000

List Price

$1,675

$1,508 - $1,843

Rent Est.

$243,270  ( +8.12%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2005
  • Price/Sqft : $122.28
  • 91 Days on Market
  • MLS # : 6701587
  • Updated Date : 08/26/2020 at 01:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,840 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

BACK ON THE MARKET! Great Opportunity to live in sought after Princeton Lakes. Beautiful corner lot. Desirable floor plan includes an office or flex space on the first floor and plenty of natural light. New carpet & paint. The master suite features a vaulted ceilings, walk in closet, dual vanities and a garden tub. This is a master planned community with a clubhouse, playground, basketball courts, tennis courts, and pool. You’ll also love this neighborhood within walking distance to Atlanta Water Ski, shops, bars, & restaurants. 4BD|2.5 BA| 2Car Garage

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: Princeton Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $103k239k

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

Neighborhood: Princeton Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9731805

* 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
Deerwood Elementary School Primary Regular 660 44 3
Ralph Johnson Bunche Middle School Middle Regular 771 51 2
Daniel M. Therrell High School High Regular 3

Deerwood Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 44
3
GreatSchools Rating

Ralph Johnson Bunche Middle School

  • Education Level: Middle
  • # of students: 771
  • # of teachers: 51
2
GreatSchools Rating

Daniel M. Therrell High School

  • Education Level: High
  • # of students:
  • # of teachers:
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,508$1,843$1,675

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,675
EXPENSES Loan Payment -$830
Property Tax -$261
Property Insurance -$63
HOA -$50
Property Management Fees -$119
CASH FLOW
$352

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.

$225,000

PROJECTED PRICE

$1,675

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.12%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

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 25% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

11.58

YEARS SAVED

$47,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,675

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,670

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6253$1,6504$1,6755$2,000
$2,000
RENT COMPS ANALYSIS
  • 3261 Wellington Walk Sw Atlanta, 4
    • 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.91
    •  
  • 3297 Saville Street Sw Atlanta, 1
    • 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2005
    LEASED 06/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
  • 3273 Wellington Walk Sw Atlanta, 2
    • 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 2006
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.88
    •  
  • 3289 Saville Street Sw Atlanta, 3
    • 4 beds 3 baths ∙ 1,742 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,742 Sqft ∙ Built 2005
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 3916 Camden Court Atlanta, 5
    • 3 beds 3 baths ∙ 2,157 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,157 Sqft ∙ Built 2019
    LEASED 07/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
PROPERTY LISTING DETAILS
Christy Taylor
1.404.831.2423
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6701587
Last Updated: 08/26/2020
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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