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4456 Oakleaf Cove Decatur, GA 30034

4 Beds 3 Baths 2,661 sqft Built 1989

$319,900

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $120.22
  • 6 Days on Market
  • MLS # : 6833781
  • Updated Date : 02/06/2021 at 04:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,661 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Wow ! Rare opportunity to own an amazing property on the LAKE in HOT city of Decatur ! Gorgeous House + Beautiful Lake backyard view ! This elegant\professionally renovated Brick front home feels like a brand new house! Nice established subdivision , Tons of natural light ,2 Story foyer\open floor plan, huge windows, Breath taking master suite , Separate keeping room with Fireplace, Formal living room, Formal Dining room, Separate breakfast room , front porch, ISLAND kitchen with SS appliances

SEE MORE

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: Dogwood Farms

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: Dogwood Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8171509

* 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
Chapel Hill Elementary School Primary Regular 632 39 3
Chapel Hill Middle School Middle Regular 854 52 4
Southwest Dekalb High School High Regular 1,275 80 4

Chapel Hill Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 39
3
GreatSchools Rating

Chapel Hill Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 52
4
GreatSchools Rating

Southwest Dekalb High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 80
4
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,111
Property Tax -$461
Property Insurance -$79
HOA -$42
Property Management Fees -$119
CASH FLOW
-$232

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.

$319,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.6%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$452

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $1,583

    COMP ESTIMATED VALUE
  • $0.6

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5803$1,6254$1,6505$1,725
$1,725
RENT COMPS ANALYSIS
  • 4456 Oakleaf Cove Decatur, GA 2
    • 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.59
    •  
  • 3739 Stanford Circle Decatur, GA 1
    • 4 beds 2 baths ∙ 2,528 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,528 Sqft ∙ Built 1972
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.59
    •  
  • 3920 Castellum Close Ellenwood, GA 3
    • 5 beds 3 baths ∙ 2,688 Sqft ∙ Built 1992 5 beds 3 baths ∙ 2,688 Sqft ∙ Built 1992
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.60
    •  
  • 3417 Little Beth Court Decatur, GA 4
    • 4 beds 2 baths ∙ 2,724 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,724 Sqft ∙ Built 1981
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.61
    •  
  • 2832 Chapel Ridge Circle Decatur, GA 5
    • 3 beds 3 baths ∙ 2,966 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,966 Sqft ∙ Built 1998
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.58
    •  
PROPERTY LISTING DETAILS
Mitchell B Grooms
1.404.386.1101
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6833781
Last Updated: 02/06/2021
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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