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359 Howell Drive Sw Atlanta, GA 30331

3 Beds 3 Baths 1,542 sqft Built 1996

$260,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $168.61
  • 2 Days on Market
  • MLS # : 6826115
  • Updated Date : 01/09/2021 at 19:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,542 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful House on a corner lot, fully RENOVATED. Fully equipped with new appliances! Ready to move in. Excellent location in a very well established neighborhood, Public transportation, school buses and walking distance to the stores. Come and see. This house is waiting to become your new HOME! No seller property disclosure, owner never lived in the property. Preferred Attorney: O'kelly and Sorohan (Duluth)

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)

PRICE & RENT TRENDS

Neighborhood: Adamsville

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $45k235k

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

Neighborhood: Adamsville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5581714

* 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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$903
Property Tax -$301
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$10

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.

$260,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.53%

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$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,753

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,442

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3253$1,3904$1,4005$1,407
$1,407
RENT COMPS ANALYSIS
  • 359 Howell Drive Sw Atlanta, GA 3
    • 3 beds 3 baths ∙ 1,542 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,542 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.90
    •  
  • 132 Brownlee Road Atlanta, GA 1
    • 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 2005
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.91
    •  
  • 527 Constellation Overlook Sw Atlanta, GA 2
    • 3 beds 3 baths ∙ 1,446 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,446 Sqft ∙ Built 2007
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.92
    •  
  • 514 Constellation Overlook Sw Atlanta, GA 4
    • 3 beds 3 baths ∙ 1,446 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,446 Sqft ∙ Built 2007
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.97
    •  
  • 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
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,407
    • $0.94
    •  
PROPERTY LISTING DETAILS
Valeria Moncher
1.404.438.2493
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6826115
Last Updated: 01/09/2021
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. © 2017 First Multiple Listing Service, Inc.

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