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3496 Boring Road Decatur, GA 30034

4 Beds 3 Baths 2,000 sqft Built 1966

$314,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $157.45
  • 4 Days on Market
  • MLS # : 6853032
  • Updated Date : 03/13/2021 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,000 sqft
  • Baths : 3 full
Listing Agent's Description

RENOVATED HOME IN PRIME LOCATION! Bright AIRY floorplan with many upgrades throughout! Updated Kitchen with new STAINLESS appliances, upgraded GRANITE counters and Breakfast Area. Dining Room and Formal Living Room PLUS Family room. Updated bathrooms with new tile surrounds, fixtures, vanities, etc. GLEAMING HARDWOODS, Fresh DESIGNER paint, newer roof and NEW: Water Heater, Gutters, Ceiling fans, fixtures, etc. Refurbished back patio is great for entertaining! 2 car garage and great yard make this a MUST SEE!

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Zip Code: 30034

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $81k209k

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

Zip Code: 30034

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171509

* 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
Bob Mathis Elementary School Primary Regular 460 33 3
Chapel Hill Middle School Middle Regular 854 52 4
Southwest Dekalb High School High Regular 1,275 80 4

Bob Mathis Elementary School

  • Education Level: Primary
  • # of students: 460
  • # of teachers: 33
3
GreatSchools Rating

Chapel Hill Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 52
4
GreatSchools Rating

Southwest Dekalb High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 80
4
GreatSchools Rating
 

$283,410$346,390$314,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,094
Property Tax -$454
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$223

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.

$314,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.5%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,199

INVESTMENT

$89,199

Down Payment
$78,725
Rehab Estimate
$5,750
Closing Costs
$4,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,725
Loan Amount $236,175
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$645

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,615

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5103$1,5504$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 3496 Boring Road Decatur, GA 2
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.76
    •  
  • 2813 Rainbow Forest Drive Decatur, GA 1
    • 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1965
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
  • 2725 Rainbow Forest Drive Decatur, GA 3
    • 3 beds 2 baths ∙ 1,973 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,973 Sqft ∙ Built 1963
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
  • 3467 Pheasant Court Decatur, GA 4
    • 5 beds 2 baths ∙ 1,969 Sqft ∙ Built 1964 5 beds 2 baths ∙ 1,969 Sqft ∙ Built 1964
    property image
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 3907 Leisure Woods Dr Decatur, GA 5
    • 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 1969 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 1969
    property image
    LEASED 11/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.75
    •  
PROPERTY LISTING DETAILS
Levi Afrah
1.404.805.5384
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6853032
Last Updated: 03/13/2021
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.

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