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3421 Adkins Road Nw Atlanta, GA 30331

4 Beds 2 Baths 1,780 sqft Built 1962

$130,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $73.03
  • 27 Days on Market
  • MLS # : 6814841
  • Updated Date : 12/22/2020 at 15:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,780 sqft
  • Baths : 2 full
Listing Agent's Description

Investors Charm. Bring your ideas for renovating this cute fixer upper. It boast 4 beds and 2 baths. Being sold in as is condition. Just minutes away from shopping, I -295, I-66, I-75/85, Hartsfield/Jackson, Marta and more. Don't miss out on this hidden gem.

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: Fairburn Heights

NeighborhoodNIR Market*CityMarket2010Year2000201940k60k80k100k120k140k160k180k200k220kPrice in $37k235k

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

Neighborhood: Fairburn Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5421714

* 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
George Alexander Towns Elementary School Primary Regular 339 31 4
Charles Lincoln Harper - Samuel Howard Archer Middle School Middle Regular 667 46 1
Frederick Douglass High School High Regular 826 66 2

George Alexander Towns Elementary School

  • Education Level: Primary
  • # of students: 339
  • # of teachers: 31
4
GreatSchools Rating

Charles Lincoln Harper - Samuel Howard Archer Middle School

  • Education Level: Middle
  • # of students: 667
  • # of teachers: 46
1
GreatSchools Rating

Frederick Douglass High School

  • Education Level: High
  • # of students: 826
  • # of teachers: 66
2
GreatSchools Rating
 

$117,000$143,000$130,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$480
Property Tax -$151
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$549

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.

$130,000

PROJECTED PRICE

$1,360

PROJECTED RENT

1.05%

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

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$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$40,200

INVESTMENT

$40,200

Down Payment
$32,500
Rehab Estimate
$5,750
Closing Costs
$1,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$480

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $32,500
Loan Amount $97,500
See What Happens When You Reinvest Cash Flow

18.08

YEARS SAVED

$46,586

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,380

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,360
1$1,3602$1,3953$1,3954$1,5505$1,695
$1,695
RENT COMPS ANALYSIS
  • 3421 Adkins Road Nw Atlanta, GA 1
    • 4 beds 2 baths ∙ 1,780 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,780 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.76
    •  
  • 3798 Bakers Ferry Road Sw Atlanta, GA 2
    • 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 1964
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.71
    •  
  • 36 Delmoor Court Nw Atlanta, GA 3
    • 4 beds 2 baths ∙ 1,793 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,793 Sqft ∙ Built 1962
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.78
    •  
  • 2970 Eleanor Terrace Nw Atlanta, GA 4
    • 4 beds 2 baths ∙ 1,933 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,933 Sqft ∙ Built 1963
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 761 Caron Circle Nw Atlanta, GA 5
    • 5 beds 3 baths ∙ 2,105 Sqft ∙ Built 1960 5 beds 3 baths ∙ 2,105 Sqft ∙ Built 1960
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
PROPERTY LISTING DETAILS
Joyce E Carmichael
1.404.219.4894
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6814841
Last Updated: 12/22/2020
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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