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3301 Henderson Mill Road # P2 Atlanta, GA 30341

3 Beds 2 Baths 1,348 sqft Built 1969

INVESTimate

$170,000

List Price

$2,020

$1,818 - $2,222

Rent Est.

$184,331  ( +8.43%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1969
  • Price/Sqft : $126.11
  • 10 Days on Market
  • MLS # : 6768177
  • Updated Date : 08/22/2020 at 08:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,348 sqft
  • Baths : 2 full
Listing Agent's Description

Live in a secured/gated community. Close to interstate 285/85. This 3 bed 2 full bath is ready to MOVE IN!!!!! This Complex has a lot to offer from swimming, tennis, park and fitness center, what more could you ask for?

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Zip Code: 30341

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $103k343k

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

Zip Code: 30341

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732014

* 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
 

$153,000$187,000$170,000

PURCHASE PRICE

$1,818$2,222$2,020

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 $2,020
EXPENSES Loan Payment -$627
Property Tax -$616
Property Insurance -$53
HOA -$338
Property Management Fees -$119
CASH FLOW
$267

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.

$170,000

PROJECTED PRICE

$2,020

PROJECTED RENT

1.19%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.43%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$18,732

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $2,062

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$2,020
1$2,0202$2,2503$2,3004$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 3301 Henderson Mill Road Atlanta, 1
    • 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,348 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.50
    •  
  • 2001 Hollidon Road Decatur, 2
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1959
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.53
    •  
  • 3032 Henderson Mill Road Atlanta, 3
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1960
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.60
    •  
  • 3067 Greenbrook Way Ne Atlanta, 4
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1965
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.50
    •  
  • 3107 Kingscliff Way Ne Atlanta, 5
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 1961
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.49
    •  
PROPERTY LISTING DETAILS
Silva Tavitian
1.770.846.1845
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6768177
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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