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4823 Nelda Drive Austell, GA 30106

3 Beds 2 Baths 1,450 sqft Built 1969

$205,900

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $142.00
  • 4 Days on Market
  • MLS # : 6830837
  • Updated Date : 01/22/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 1 full , 1 half
Listing Agent's Description

Situated in the wooded neighborhood of South Cobb Heights in Austell, you will love the quiet location of this home! A long driveway gives the home privacy away from the street. Head inside and you'll immediately notice how bright light floods into the family room. The open concept living area is very spacious. The kitchen has a gorgeous gas range with a hood above it, and there is also plenty of room for an island. This ranch-style home will be a great place to entertain. We can't forget to mention that local schools are less than a mile away!

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)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 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: South Cobb Heights

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $82k209k

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

Neighborhood: South Cobb Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7791509

* 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
Clarkdale Elementary School Primary Regular 688 44 5
Cooper Middle School Middle Regular 899 53 8
South Cobb High School High Regular 2,074 106 4

Clarkdale Elementary School

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 44
5
GreatSchools Rating

Cooper Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 53
8
GreatSchools Rating

South Cobb High School

  • Education Level: High
  • # of students: 2,074
  • # of teachers: 106
4
GreatSchools Rating
 

$185,310$226,490$205,900

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$715
Property Tax -$182
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$209

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.

$205,900

PROJECTED PRICE

$1,280

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.0%
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

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$60,314

INVESTMENT

$60,314

Down Payment
$51,475
Rehab Estimate
$5,750
Closing Costs
$3,089

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$715

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,475
Loan Amount $154,425
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$23,452

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,286

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2803$1,3004$1,350
$1,350
RENT COMPS ANALYSIS
  • 4823 Nelda Drive Austell, GA 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.88
    •  
  • 4600 Churchill Court Austell, GA 1
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1977
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.81
    •  
  • 2116 Warren Drive Austell, GA 3
    • 3 beds 1 baths ∙ 1,389 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,389 Sqft ∙ Built 1956
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.94
    •  
  • 2125 Perkerson Mill Road Austell, GA 4
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1959
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
PROPERTY LISTING DETAILS
Michelle Sanders
1.678.884.7933
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6830837
Last Updated: 01/22/2021
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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