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3671 Ramsey Circle Atlanta, GA 30331

5 Beds 3 Baths 2,290 sqft Built 2005

$307,500

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $134.28
  • 2 Days on Market
  • MLS # : 6913885
  • Updated Date : 07/13/2021 at 08:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,290 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

5 Bedrooms/2.5 Baths with spacious kitchen. New carpet and paint throughout. Convenient to shopping and airport. There is a fence encroachment onto the 3671 Ramsey Circle property from an adjacent property. The property is being sold subject to this fence encroachment and will not be remedied prior to closing. Closing must be with Slepian, Schwartz & Landgaard. Sold As-Is.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Princeton Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $103k239k

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

Neighborhood: Princeton Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9731805

* 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
Deerwood Elementary School Primary Regular 660 44 3
Ralph Johnson Bunche Middle School Middle Regular 771 51 2
Daniel M. Therrell High School High Regular 3

Deerwood Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 44
3
GreatSchools Rating

Ralph Johnson Bunche Middle School

  • Education Level: Middle
  • # of students: 771
  • # of teachers: 51
2
GreatSchools Rating

Daniel M. Therrell High School

  • Education Level: High
  • # of students:
  • # of teachers:
3
GreatSchools Rating
 

$276,750$338,250$307,500

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,068
Property Tax -$356
Property Insurance -$71
HOA -$100
Property Management Fees -$119
CASH FLOW
$215

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$307,500

PROJECTED PRICE

$1,930

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
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$0.0$5.0k$10k$15k

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$87,238

INVESTMENT

$87,238

Down Payment
$76,875
Rehab Estimate
$5,750
Closing Costs
$4,613

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,068

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,875
Loan Amount $230,625
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$27,496

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,947

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9303$2,0004$2,0455$2,184
$2,184
RENT COMPS ANALYSIS
  • 3671 Ramsey Circle Atlanta, GA 2
    • 5 beds 3 baths ∙ 2,290 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,290 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.84
    •  
  • 3679 Ramsey Circle Sw Atlanta, GA 1
    • 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 2006
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 3220 Telford Terrace Sw Atlanta, GA 3
    • 5 beds 3 baths ∙ 2,290 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,290 Sqft ∙ Built 2006
    property image
    LEASED 07/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
  • 3643 Ramsey Close Atlanta, GA 4
    • 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 2005
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.89
    •  
  • 3502 Redwine Parkway Sw Atlanta, GA 5
    • 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 2008
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,184
    • $0.88
    •  
PROPERTY LISTING DETAILS
Kent Stewart
1.404.310.6647
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6913885
Last Updated: 07/13/2021
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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