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3943 Old Atlanta Station Drive Se Atlanta, GA 30339

3 Beds 4 Baths 2,638 sqft Built 2005

$389,900

List Price

$2,775

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $147.80
  • 4 Days on Market
  • MLS # : 6859627
  • Updated Date : 03/26/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,638 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

FIRST SHOWING & OPEN HOUSE SUN MAR 28TH 2-4 PM! This is it, the one you’ve been waiting for! The swankiest of renovations in the community to hit the market! Light filled brick end unit in quiet sought-after Old Atlanta Station! From the moment you step inside you’ll know you’ve found something special, from the bright double aspect windows, generous sized window seat and feature wall in the living room, to the crown molding and wainscoting, hardwoods, and double-sided fireplace. Open plan with graceful arches, yet a dedicated room for your every need.

SEE MORE

MARKET HIGHLIGHTS

  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 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)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Old Atlanta Station

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k339k

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

Neighborhood: Old Atlanta Station

ZipNIR Market*CityMarket2010Year20002019 Q21000150020002500300035004000Rent in $9734147

* 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
Nickajack Elementary School Primary Regular 1,126 75 7
Campbell Middle School Middle Regular 1,416 77 6
Campbell High School High Regular 2,509 135 5

Nickajack Elementary School

  • Education Level: Primary
  • # of students: 1,126
  • # of teachers: 75
7
GreatSchools Rating

Campbell Middle School

  • Education Level: Middle
  • # of students: 1,416
  • # of teachers: 77
6
GreatSchools Rating

Campbell High School

  • Education Level: High
  • # of students: 2,509
  • # of teachers: 135
5
GreatSchools Rating
 

$350,910$428,890$389,900

PURCHASE PRICE

$2,498$3,053$2,775

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,775
EXPENSES Loan Payment -$1,354
Property Tax -$345
Property Insurance -$78
HOA -$260
Property Management Fees -$119
CASH FLOW
$619

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.

$389,900

PROJECTED PRICE

$2,775

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 1.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,354

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

12.25

YEARS SAVED

$75,418

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,775

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,803

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4503$2,5004$2,7755$3,000
$3,000
RENT COMPS ANALYSIS
  • 3943 Old Atlanta Station Drive Se Atlanta, GA 4
    • 3 beds 4 baths ∙ 2,638 Sqft ∙ Built 2005 3 beds 4 baths ∙ 2,638 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,775
    • $1.05
    •  
  • 2210 Parkview Run Nw Atlanta, GA 1
    • 3 beds 3 baths ∙ 2,291 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,291 Sqft ∙ Built 2004
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
  • 5181 Heather Road Se Smyrna, GA 2
    • 4 beds 3 baths ∙ 2,349 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,349 Sqft ∙ Built 2006
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.04
    •  
  • 1858 Fox Chapel Drive Se Smyrna, GA 3
    • 3 beds 3 baths ∙ 2,561 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,561 Sqft ∙ Built 1999
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
  • 5018 Groover Drive Se Smyrna, GA 5
    • 4 beds 3 baths ∙ 2,435 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,435 Sqft ∙ Built 2011
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.23
    •  
PROPERTY LISTING DETAILS
Susan Powell
1.404.635.1010
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6859627
Last Updated: 03/26/2021
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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