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3829 Mays Court Sw Atlanta, GA 30331

4 Beds 3 Baths 1,744 sqft Built 1993

$160,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $91.74
  • 33 Days on Market
  • MLS # : 6829551
  • Updated Date : 02/04/2021 at 18:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,744 sqft
  • Baths : 3 full
Listing Agent's Description

Great investment Property. Home is in a cul-de-sac, T Quiet neighborhood, close to shopping areas. Showing will be set upon receiving an accepted contract.

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Neighborhood: Fairburn Mays

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $48k235k

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

Neighborhood: Fairburn Mays

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6841714

* 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
 

$144,000$176,000$160,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$556
Property Tax -$185
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$609

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.

$160,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.96%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,150

INVESTMENT

$48,150

Down Payment
$40,000
Rehab Estimate
$5,750
Closing Costs
$2,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$556

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $40,000
Loan Amount $120,000
See What Happens When You Reinvest Cash Flow

17.5

YEARS SAVED

$47,305

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,469

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,4753$1,5304$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 3829 Mays Court Sw Atlanta, GA 3
    • 4 beds 3 baths ∙ 1,744 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,744 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.88
    •  
  • 527 Constellation Overlook Sw Atlanta, GA 1
    • 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
    •  
  • 3950 Fennel Circle Sw Atlanta, GA 2
    • 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 1987
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.81
    •  
  • 3720 Mays Crossing Sw Atlanta, GA 4
    • 3 beds 2 baths ∙ 1,935 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,935 Sqft ∙ Built 1994
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 660 Timbergrove Drive Atlanta, GA 5
    • 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 1989
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
PROPERTY LISTING DETAILS
Monica Paul Johnson
1.404.271.0547
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6829551
Last Updated: 02/04/2021
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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