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4027 Ester Drive Sw Atlanta, GA 30331

3 Beds 2 Baths 1,360 sqft Built 1973

$174,900

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $128.60
  • 3 Days on Market
  • MLS # : 6839572
  • Updated Date : 02/13/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,360 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Instant Equity! 4 Sided Brick Home in Well Established Community. Minutes away from ALL Attractions. Choose your exit, MULTIPLE EXIT strategies! Tenant in place (instant Cash Flow), renovate and sell OR tear down and go from the ground up! Centrally located! Close to Freeways, Downtown, Airport and Stadiums! Own inside City of Atlanta limits for less than $200k! Add this gem to your portfolio, great opportunity for savvy investor, inventory is KING! Do not disturb tenant!

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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Wilson Mill Meadows

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $49k235k

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

Neighborhood: Wilson Mill Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6661714

* 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
 

$157,410$192,390$174,900

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$608
Property Tax -$203
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$187

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.

$174,900

PROJECTED PRICE

$1,170

PROJECTED RENT

0.67%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$52,099

INVESTMENT

$52,099

Down Payment
$43,725
Rehab Estimate
$5,750
Closing Costs
$2,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$608

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,725
Loan Amount $131,175
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$19,484

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,258

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,2233$1,3304$1,3955$1,495
$1,495
RENT COMPS ANALYSIS
  • 4027 Ester Drive Sw Atlanta, GA 1
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.86
    •  
  • 658 Tarragon Way Sw Atlanta, GA 2
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1987
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,223
    • $0.90
    •  
  • 3512 Collier Drive Nw Atlanta, GA 3
    • 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1990
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.95
    •  
  • 4031 Bakers Ferry Road Sw Atlanta, GA 4
    • 3 beds 3 baths ∙ 1,442 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,442 Sqft ∙ Built 1964
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.97
    •  
  • 3940 Rutgers Drive Sw Atlanta, GA 5
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1963
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
PROPERTY LISTING DETAILS
Frank Edmondson
1.404.957.0852
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6839572
Last Updated: 02/13/2021
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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