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5099 Lower Elm Street #104 Atlanta, GA 30349

3 Beds 3 Baths 1,467 sqft Built 2021

$240,447

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $163.90
  • 2 Days on Market
  • MLS # : 6860713
  • Updated Date : 03/27/2021 at 20:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,467 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Don't miss out, High Grove is selling fast! This Astin "C" ,1467 Sq. ft home, features open concept living area with 3 beds / 2.5 baths. Our open floor plan highlights our standard Granite kitchen countertops, 42" kitchen cabinets, kitchen island with double sinks. Stainless steel appliances; microwave, stove and dishwasher, makes this an easy move in. Our grand owner suite is the cherry on top! Huge walk in closet & Double vanity. Blinds on all windows and 1 car garage. "Selling FAST!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 30349

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $82k235k

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

Zip Code: 30349

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8171714

* 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
Wolf Creek Elementary School Primary Unknown NA
Renaissance Middle School Middle Regular 1,208 83 3
Langston Hughes High School High Regular 1,890 105 3

Wolf Creek Elementary School

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

Renaissance Middle School

  • Education Level: Middle
  • # of students: 1,208
  • # of teachers: 83
3
GreatSchools Rating

Langston Hughes High School

  • Education Level: High
  • # of students: 1,890
  • # of teachers: 105
3
GreatSchools Rating
 

$216,402$264,492$240,447

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 -$835
Property Tax -$268
Property Insurance -$56
HOA -$70
Property Management Fees -$119
CASH FLOW
-$68

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$240,447

PROJECTED PRICE

$1,280

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 3.00%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,718

INVESTMENT

$65,718

Down Payment
$60,112
Rehab Estimate
$2,000
Closing Costs
$3,607

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$835

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,112
Loan Amount $180,335
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$3,042

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
  • $0.87

    LIST RENT PER SQFT
  • $1,254

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,280
1$1,2802$1,4253$1,550
$1,550
RENT COMPS ANALYSIS
  • 5099 Lower Elm Street Atlanta, GA 1
    • 3 beds 3 baths ∙ 1,467 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,467 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.87
    •  
  • 4451 Ravenwood Drive Union City, GA 2
    • 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 2006
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.84
    •  
  • 4488 Ravenwood Drive Union City, GA 3
    • 4 beds 3 baths ∙ 1,784 Sqft ∙ Built 2017 4 beds 3 baths ∙ 1,784 Sqft ∙ Built 2017
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
PROPERTY LISTING DETAILS
Imani Frith
1.973.380.8535
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6860713
Last Updated: 03/27/2021
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.

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