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4585 Osprey Lane Decatur, GA 30035

4 Beds 3 Baths 2,886 sqft Built 2002

$220,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $76.23
  • 2 Days on Market
  • MLS # : 6811741
  • Updated Date : 11/21/2020 at 17:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,886 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This property is priced to sell! Beautiful, well maintained 4 bdr. 2 1/2 bth, 2886sqft. home located in a quiet Decatur neighborhood. This home features a great Owner's suite, with a separate shower and soaking tub. There are tray ceilings in each bedroom, a 2 1/2 car garage, and a nice sized yard. The eat-in kitchen overlooks the family room and the cozy fireplace. This property has a tenant in the process of moving, please do not disturb.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$812
Property Tax -$324
Property Insurance -$83
Property Management Fees -$119
CASH FLOW
$333

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.

$220,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 5.0%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$38,923

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $1,876

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$2,000
$2,000
RENT COMPS ANALYSIS
  • 4585 Osprey Lane Decatur, GA 1
    • 4 beds 3 baths ∙ 2,886 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,886 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.58
    •  
  • 2239 Eagles Nest Circle Decatur, GA 2
    • 5 beds 3 baths ∙ 3,072 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,072 Sqft ∙ Built 2001
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.65
    •  
PROPERTY LISTING DETAILS
Cheryl King
1.614.906.0338
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6811741
Last Updated: 11/21/2020
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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