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3957 Emerald North Drive Decatur, GA 30035

3 Beds 2 Baths 1,876 sqft Built 1969

INVESTimate

$186,300

List Price

$1,230

$1,107 - $1,353

Rent Est.

$195,652  ( +5.02%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1969
  • Price/Sqft : $99.31
  • 6 Days on Market
  • MLS # : 6769505
  • Updated Date : 08/23/2020 at 18:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,876 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Check out this tastefully decorated, well managed and maintained split level home in a quiet established neighborhood. Close to I20, 285 and shopping. There are a lot of updates which include: hardwood floors, granite countertops, updated fixtures, all new windows and more! The welcoming front door leads to a living room, perfect for entertaining. Off of the living room is your eat in kitchen. The back yard is spacious and partially fenced. The downstairs has been remodeled and is a quiet getaway with sitting room and work space. Pack your bags and move right in!

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 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)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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 employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30035

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $75k209k

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

Zip Code: 30035

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8021509

* 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
Canby Lane Elementary School Primary Regular 662 40 3
Mary Mcleod Bethune Middle School Middle Regular 902 53 3
Towers High School High Regular 1,001 64 2

Canby Lane Elementary School

  • Education Level: Primary
  • # of students: 662
  • # of teachers: 40
3
GreatSchools Rating

Mary Mcleod Bethune Middle School

  • Education Level: Middle
  • # of students: 902
  • # of teachers: 53
3
GreatSchools Rating

Towers High School

  • Education Level: High
  • # of students: 1,001
  • # of teachers: 64
2
GreatSchools Rating
 

$167,670$204,930$186,300

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$687
Property Tax -$269
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$92

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.

$186,300

PROJECTED PRICE

$1,230

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.02%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,120

INVESTMENT

$55,120

Down Payment
$46,575
Rehab Estimate
$5,750
Closing Costs
$2,795

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$687

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,575
Loan Amount $139,725
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$12,183

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,421

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,2503$1,3254$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 3957 Emerald North Drive Decatur, 1
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.66
    •  
  • 3924 Bressler Circle Decatur, 2
    • 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 1969 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 1969
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.71
    •  
  • 3891 Northstrand Drive Decatur, 3
    • 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 1969
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.76
    •  
  • 3938 Emerald Springs Court Decatur, 4
    • 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 1972 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 1972
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 2324 Maryland Court Decatur, 5
    • 4 beds 3 baths ∙ 1,999 Sqft ∙ Built 1970 4 beds 3 baths ∙ 1,999 Sqft ∙ Built 1970
    property image
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
PROPERTY LISTING DETAILS
Larry Holmes
1.404.683.0949
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6769505
Last Updated: 08/23/2020
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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