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480 Jointer Avenue Scottdale, GA 30079

4 Beds 3 Baths 1,732 sqft Built 2005

$300,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $173.21
  • 4 Days on Market
  • MLS # : 6806518
  • Updated Date : 11/20/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,732 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Welcome to the "Wisteria Cottage"; your peaceful home on the outskirts of Scottdale. Be greeted by a covered front porch, surrounded by blooming Wisteria and landscaped hedges that provide a natural privacy curtain when lounging outside. On the inside; the kitchen is outfitted with a custom backsplash, marble counter tops, unique cabinet hardware, and upgraded appliances with a gas hook up, giving you the option for a gas stove. Around the corner from the kitchen, you'll find a mud room with a rustic build-out, offering pantry and additional storage space.

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

Neighborhood: Scottdale

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $80k209k

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

Neighborhood: Scottdale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7401509

* 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
Avondale Elementary School Primary Regular 487 36 2
Druid Hills Middle School Middle Regular 902 67 6
Druid Hills High School High Regular 1,386 88 5

Avondale Elementary School

  • Education Level: Primary
  • # of students: 487
  • # of teachers: 36
2
GreatSchools Rating

Druid Hills Middle School

  • Education Level: Middle
  • # of students: 902
  • # of teachers: 67
6
GreatSchools Rating

Druid Hills High School

  • Education Level: High
  • # of students: 1,386
  • # of teachers: 88
5
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,107
Property Tax -$428
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$155

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$300,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$26,809

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,100

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,8704$1,9505$2,150
$2,150
RENT COMPS ANALYSIS
  • 480 Jointer Avenue Scottdale, GA 3
    • 4 beds 3 baths ∙ 1,732 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,732 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $1.08
    •  
  • 2965 Judylyn Drive Decatur, GA 1
    • 4 beds 2 baths ∙ 1,619 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,619 Sqft ∙ Built 1989
    LEASED 06/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.14
    •  
  • 3472 Kensington Parc Circle Avondale Estates, GA 2
    • 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 2000
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.29
    •  
  • 3496 Kensington Parc Circle Avondale Estates, GA 4
    • 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2000
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.31
    •  
  • 261 Glen Cove Drive Avondale Estates, GA 5
    • 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 1994
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.11
    •  
PROPERTY LISTING DETAILS
Skylar Brillante
1.678.896.3997
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6806518
Last Updated: 11/20/2020
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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