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3407 Ashwood Lane Atlanta, GA 30341

3 Beds 3 Baths 1,600 sqft Built 1974

INVESTimate

$210,000

List Price

$1,810

$1,629 - $1,991

Rent Est.

$225,351  ( +7.31%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1974
  • Price/Sqft : $131.25
  • 7 Days on Market
  • MLS # : 6770380
  • Updated Date : 08/22/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Walk in & feel right at home in this beautifully maintained condo home. First floor has an open LV & Den, Sep DR, eat in kitchen & a half BA all on the main floor. Enjoy a private fenced courtyard - perfect for entertaining. Upstairs have 3 BRs & 2 full BA. Great location near schools, shopping, public transportation and freeways. The property has a swimming pool and club house. A must see home. Large Master suite with walk in closet, living room and den area freshly painted, & 3 parking spaces. HOA will not allow you to rent the unit. Near Marta

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: Tucker

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k351k

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

Neighborhood: Tucker

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732009

* 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
Evansdale Elementary School Primary Regular 600 40 5
Henderson Middle School Middle Regular 1,578 95 6
Lakeside High School High Regular 2,048 111 7

Evansdale Elementary School

  • Education Level: Primary
  • # of students: 600
  • # of teachers: 40
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
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$775
Property Tax -$323
Property Insurance -$58
HOA -$382
Property Management Fees -$119
CASH FLOW
$153

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.

$210,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 7.31%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$18,706

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,236

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$1,810
1$1,8102$2,1003$2,2004$2,3005$2,600
$2,600
RENT COMPS ANALYSIS
  • 3407 Ashwood Lane Atlanta, 1
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.13
    •  
  • 3109 Henderson Walk Doraville, 2
    • 3 beds 3 baths ∙ 1,898 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,898 Sqft ∙ Built 1982
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.11
    •  
  • 3586 Santa Fe Trail Doraville, 3
    • 4 beds 3 baths ∙ 1,573 Sqft ∙ Built 1963 4 beds 3 baths ∙ 1,573 Sqft ∙ Built 1963
    property image
    LEASED 03/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.40
    •  
  • 3032 Henderson Mill Road Atlanta, 4
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1960
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.60
    •  
  • 2885 Northbrook Drive Atlanta, 5
    • 4 beds 3 baths ∙ 1,756 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,756 Sqft ∙ Built 1978
    property image
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.48
    •  
PROPERTY LISTING DETAILS
Desiree Felix
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6770380
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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