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432 Ira Street Sw # 401 Atlanta, GA 30312

2 Beds 4 Baths 1,030 sqft Built 2005

INVESTimate

$267,500

List Price

$1,530

$1,377 - $1,683

Rent Est.

$293,046  ( +9.55%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2005
  • Price/Sqft : $259.71
  • 62 Days on Market
  • MLS # : 6743752
  • Updated Date : 08/25/2020 at 11:07
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,030 sqft
  • Baths : 3 full , 1 half
Listing Agent's Description

Beautiful Brownstone Style Community within walking distance to park, recreation center, library, and elementary school. All brick exterior, 2 bedrooms, plus bonus room, 3.5 bathrooms, and 1-car garage. Gorgeous tile, hardwood floors throughout, Spacious great room, Open dining area, Granite counter tops in kitchen w/breakfast bar. Generous master bedroom with jetted tub and walk-in closet.

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

Neighborhood: Mechanicsville

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $76k235k

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

Neighborhood: Mechanicsville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8171714

* 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
Paul L. Dunbar Elementary School Primary Regular 406 32 3
Martin Luther King, Jr. Middle School Middle Regular 680 61 3
Maynard Holbrook Jackson High School High Regular 1,022 72 4

Paul L. Dunbar Elementary School

  • Education Level: Primary
  • # of students: 406
  • # of teachers: 32
3
GreatSchools Rating

Martin Luther King, Jr. Middle School

  • Education Level: Middle
  • # of students: 680
  • # of teachers: 61
3
GreatSchools Rating

Maynard Holbrook Jackson High School

  • Education Level: High
  • # of students: 1,022
  • # of teachers: 72
4
GreatSchools Rating
 

$240,750$294,250$267,500

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$987
Property Tax -$312
Property Insurance -$47
HOA -$90
Property Management Fees -$119
CASH FLOW
-$25

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.

$267,500

PROJECTED PRICE

$1,530

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 9.55%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,638

INVESTMENT

$76,638

Down Payment
$66,875
Rehab Estimate
$5,750
Closing Costs
$4,013

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$987

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,875
Loan Amount $200,625
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$6,722

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
  • $1.49

    LIST RENT PER SQFT
  • $1,930

    COMP ESTIMATED VALUE
  • $1.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$2,0453$2,4004$2,500
$2,500
RENT COMPS ANALYSIS
  • 432 Ira Street Sw Atlanta, 1
    • 2 beds 4 baths ∙ 1,030 Sqft ∙ Built 2005 2 beds 4 baths ∙ 1,030 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.49
    •  
  • 330 Grant Street Se Atlanta, 2
    • 2 beds 3 baths ∙ 1,232 Sqft ∙ Built 1993 2 beds 3 baths ∙ 1,232 Sqft ∙ Built 1993
    property image
    LEASED 04/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $1.66
    •  
  • 147 Savannah Street Se Atlanta, 3
    • 2 beds 2 baths ∙ 1,213 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,213 Sqft ∙ Built 2006
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.98
    •  
  • 176 Savannah Street Se Atlanta, 4
    • 2 beds 2 baths ∙ 1,261 Sqft ∙ Built 2010 2 beds 2 baths ∙ 1,261 Sqft ∙ Built 2010
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.98
    •  
PROPERTY LISTING DETAILS
Bryan Adams
1.678.333.5483
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6743752
Last Updated: 08/25/2020
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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