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

506 Mcwilliams Road Se Atlanta, GA 30315

4 Beds 3 Baths 1,750 sqft Built 2007

$184,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $105.14
  • 3 Days on Market
  • MLS # : 6846621
  • Updated Date : 02/27/2021 at 14:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,750 sqft
  • Baths : 3 full
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. Previously part of a rental portfolio, perfect for a value-add flip. New Houses ($350,000) being built across the street.

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)
  • #1 Most affordable big city (WalletHub, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 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 Unknown 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
 

$165,600$202,400$184,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$639
Property Tax -$213
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$328

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.

$184,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.74%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,510

INVESTMENT

$54,510

Down Payment
$46,000
Rehab Estimate
$5,750
Closing Costs
$2,760

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$639

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,000
Loan Amount $138,000
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$33,843

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,588

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3603$1,4254$1,4505$1,635
$1,635
RENT COMPS ANALYSIS
  • 506 Mcwilliams Road Se Atlanta, GA 2
    • 4 beds 3 baths ∙ 1,750 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,750 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.78
    •  
  • 626 Waynes Court Se Atlanta, GA 1
    • 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
    •  
  • 622 Waynes Court Se Atlanta, GA 3
    • 4 beds 2 baths ∙ 1,623 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,623 Sqft ∙ Built 1999
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.88
    •  
  • 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
    •  
  • 585 Mcwilliams Road Se Atlanta, GA 5
    • 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 2006
    property image
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.94
    •  
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 #: 6846621
Last Updated: 02/27/2021
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.

BESbswy