Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

478 Fairlane Circle Nw Atlanta, GA 30331

3 Beds 1 Baths 1,125 sqft Built 1967

$124,900

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $111.02
  • 7 Days on Market
  • MLS # : 6806779
  • Updated Date : 11/10/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,125 sqft
  • Baths : 1 full
Listing Agent's Description

4-sided brick home in Fairlane Heights with full basement. The home is rented for $1,100 per month. Property is being sold "AS-IS, WHERE-IS WITHOUT ANY SELLER DISCLOSURES." Property will not go FHA due the current tenancy; buyer will assume current tenant.

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)
  • #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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Fairburn Heights

NeighborhoodNIR Market*CityMarket2010Year2000201940k60k80k100k120k140k160k180k200k220kPrice in $37k235k

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

Neighborhood: Fairburn Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5421714

* 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
George Alexander Towns Elementary School Primary Regular 339 31 4
Charles Lincoln Harper - Samuel Howard Archer Middle School Middle Regular 667 46 1
Frederick Douglass High School High Regular 826 66 2

George Alexander Towns Elementary School

  • Education Level: Primary
  • # of students: 339
  • # of teachers: 31
4
GreatSchools Rating

Charles Lincoln Harper - Samuel Howard Archer Middle School

  • Education Level: Middle
  • # of students: 667
  • # of teachers: 46
1
GreatSchools Rating

Frederick Douglass High School

  • Education Level: High
  • # of students: 826
  • # of teachers: 66
2
GreatSchools Rating
 

$112,410$137,390$124,900

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$461
Property Tax -$145
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$376

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.

$124,900

PROJECTED PRICE

$1,150

PROJECTED RENT

0.92%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$38,849

INVESTMENT

$38,849

Down Payment
$31,225
Rehab Estimate
$5,750
Closing Costs
$1,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$461

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $31,225
Loan Amount $93,675
See What Happens When You Reinvest Cash Flow

15.58

YEARS SAVED

$37,905

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,052

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$925
1$9252$1,0953$1,150
$1,150
RENT COMPS ANALYSIS
  • 478 Fairlane Circle Nw Atlanta, GA 3
    • 3 beds 1 baths ∙ 1,125 Sqft ∙ Built 1967 3 beds 1 baths ∙ 1,125 Sqft ∙ Built 1967
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.02
    •  
  • 650 Fairburn Road Nw Atlanta, GA 1
    • 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1963
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $925
    • $0.93
    •  
  • 3645 Croft Place Nw Atlanta, GA 2
    • 3 beds 1 baths ∙ 1,157 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,157 Sqft ∙ Built 1959
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.95
    •  
PROPERTY LISTING DETAILS
Kevin Dierkes
1.404.805.3445
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6806779
Last Updated: 11/10/2020
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.

BESbswy