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506 Mcwilliams Road Se Atlanta, GA 30315

4 Beds 3 Baths 1,750 sqft Built 2007

$174,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $99.94
  • 3 Days on Market
  • MLS # : 6808393
  • Updated Date : 11/14/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,750 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Amazing investment property 10 min from downtown and the airport 15 mins from East Atlanta Village for convenient shopping and restaurants. This home is perfect for a first-time investor looking for a Cash Flowing Cow or a nice starter home for a first-time buyer. A HIDDEN GEM! Don't miss this one it won’t last!

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: Lakewood

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $50k235k

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

Neighborhood: Lakewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5211714

* 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
John Wesley Dobbs Elementary School Primary Regular 531 37 2
Crawford Williamson Long Middle School Middle Regular 659 54 3
South Atlanta High School High Regular NA

John Wesley Dobbs Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 37
2
GreatSchools Rating

Crawford Williamson Long Middle School

  • Education Level: Middle
  • # of students: 659
  • # of teachers: 54
3
GreatSchools Rating

South Atlanta High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$157,410$192,390$174,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$645
Property Tax -$203
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$602

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.

$174,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.93%

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$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,099

INVESTMENT

$52,099

Down Payment
$43,725
Rehab Estimate
$5,750
Closing Costs
$2,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$645

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,725
Loan Amount $131,175
See What Happens When You Reinvest Cash Flow

16.58

YEARS SAVED

$57,528

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,566

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2953$1,3504$1,4505$1,630
$1,630
RENT COMPS ANALYSIS
  • 506 Mcwilliams Road Se Atlanta, GA 5
    • 4 beds 3 baths ∙ 1,750 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,750 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.93
    •  
  • 3069 King Smith Road Se Atlanta, GA 1
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1990
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.87
    •  
  • 649 Gayles Court Atlanta, GA 2
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1992
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.90
    •  
  • 626 Waynes Court Se Atlanta, GA 3
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1998
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.92
    •  
  • 620 Waynes Court Se Atlanta, GA 4
    • 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 1999
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
PROPERTY LISTING DETAILS
Thomas Clarke
1.404.939.1257
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808393
Last Updated: 11/14/2020
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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