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3668 Concordia Road Decatur, GA 30034

3 Beds 2 Baths 1,676 sqft Built 1969

$245,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $146.18
  • 4 Days on Market
  • MLS # : 6849058
  • Updated Date : 03/05/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,676 sqft
  • Baths : 2 full
Listing Agent's Description

Gorgeously renovated split level style home with luxurious details! This spacious open concept floorplan as remarkable details and high-end finishes throughout the home! Some of the highlights in this bright and open floorplan are; new roof, new water heater, new HVAC, new furnace, new windows plus new garage door!

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

Neighborhood: Chapel Hills

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Chapel Hills

NeighborhoodNIR 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
Chapel Hill Elementary School Primary Regular 632 39 3
Chapel Hill Middle School Middle Regular 854 52 4
Southwest Dekalb High School High Regular 1,275 80 4

Chapel Hill Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 39
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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$851
Property Tax -$353
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$123

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.

$245,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.1%
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-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,452

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,274

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,260
1$1,2602$1,2643$1,2754$1,3005$1,350
$1,350
RENT COMPS ANALYSIS
  • 3668 Concordia Road Decatur, GA 1
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.75
    •  
  • 3641 Londonderry Court Lithonia, GA 2
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1984
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,264
    • $0.78
    •  
  • 3376 Moravia Drive Lithonia, GA 3
    • 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1972
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.75
    •  
  • 3937 Mcgill Drive Decatur, GA 4
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1987
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.77
    •  
  • 3757 Holy Cross Way Decatur, GA 5
    • 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1982 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1982
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.74
    •  
PROPERTY LISTING DETAILS
Tanya Clarke
1.678.234.2043
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6849058
Last Updated: 03/05/2021
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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