Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

341 Waits Drive Sw Atlanta, GA 30331

3 Beds 2 Baths 1,265 sqft Built 1992

$155,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $123.24
  • 7 Days on Market
  • MLS # : 6835207
  • Updated Date : 02/03/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,265 sqft
  • Baths : 2 full
Listing Agent's Description

Great property for investor or handy home buyer who doesn't mind putting in some TLC. Sold As Is, no disclosures, no FHA or VA financing, no blind offers, please use showingtime.

SEE MORE

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

Neighborhood: Wilson Mill Meadows

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $49k235k

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

Neighborhood: Wilson Mill Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6661714

* 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
Leonora Precious Miles Intermediate School Primary Regular 325 21 2
Jean Childs Young Middle School Middle Regular 981 65 2
Benjamin E. Mays High School High Regular 1,707 102 2

Leonora Precious Miles Intermediate School

  • Education Level: Primary
  • # of students: 325
  • # of teachers: 21
2
GreatSchools Rating

Jean Childs Young Middle School

  • Education Level: Middle
  • # of students: 981
  • # of teachers: 65
2
GreatSchools Rating

Benjamin E. Mays High School

  • Education Level: High
  • # of students: 1,707
  • # of teachers: 102
2
GreatSchools Rating
 

$140,310$171,490$155,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$542
Property Tax -$181
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$507

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.

$155,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.90%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.1%
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$100k$200k$300k$400k$500k$600k$700k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,314

INVESTMENT

$56,314

Down Payment
$38,975
Rehab Estimate
$15,000
Closing Costs
$2,339

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$542

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $38,975
Loan Amount $116,925
See What Happens When You Reinvest Cash Flow

16.25

YEARS SAVED

$42,726

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,161

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,223
1$1,2232$1,2503$1,3254$1,4005$1,407
$1,407
RENT COMPS ANALYSIS
  • 341 Waits Drive Sw Atlanta, GA 4
    • 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.11
    •  
  • 658 Tarragon Way Sw Atlanta, GA 1
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1987
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,223
    • $0.90
    •  
  • 132 Brownlee Road Atlanta, GA 2
    • 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 2005
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.91
    •  
  • 527 Constellation Overlook Sw Atlanta, GA 3
    • 3 beds 3 baths ∙ 1,446 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,446 Sqft ∙ Built 2007
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.92
    •  
  • 3305 Delmar Lane Nw Atlanta, GA 5
    • 4 beds 3 baths ∙ 1,502 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,502 Sqft ∙ Built 2003
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,407
    • $0.94
    •  
PROPERTY LISTING DETAILS
Darrell L Byrd
1.404.427.8194
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6835207
Last Updated: 02/03/2021
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.

BESbswy