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

510 Coventry Road #9D Decatur, GA 30030

2 Beds 1 Baths 923 sqft Built 1963

$150,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 07, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $162.51
  • 7 Days on Market
  • MLS # : 6816285
  • Updated Date : 12/08/2020 at 08:01
CONSTRUCTION
  • Beds : 2
  • Floor Size : 923 sqft
  • Baths : 1 full
Listing Agent's Description

This cozy, 2 Bed/ 1 Bath Unit on 2nd Floor makes for a great starter home or perfect roommate floorplan! Quiet community, located near Emory and only minutes from the Square in Decatur or Emory village! Large windows in living room with lots of natural lighting, open concept floor plan with tile through out bathroom! Don't miss out on this great opportunity as it will go fast!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Chelsea Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500k550kPrice in $90k561k

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

Neighborhood: Chelsea Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $8802482

* 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
Westchester Elementary School Primary Unknown NA
Renfroe Middle School Middle Charter 934 66 8
Decatur High School High Charter 1,073 79 9

Westchester Elementary School

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

Renfroe Middle School

  • Education Level: Middle
  • # of students: 934
  • # of teachers: 66
8
GreatSchools Rating

Decatur High School

  • Education Level: High
  • # of students: 1,073
  • # of teachers: 79
9
GreatSchools Rating
 

$135,000$165,000$150,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$553
Property Tax -$237
Property Insurance -$45
HOA -$274
Property Management Fees -$119
CASH FLOW
$142

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.

$150,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.91%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,500

INVESTMENT

$45,500

Down Payment
$37,500
Rehab Estimate
$5,750
Closing Costs
$2,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,500
Loan Amount $112,500
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$16,484

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.48

    LIST RENT PER SQFT
  • $1,061

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,3003$1,3704$1,3955$1,500
$1,500
RENT COMPS ANALYSIS
  • 510 Coventry Road Decatur, GA 3
    • 2 beds 1 baths ∙ 923 Sqft ∙ Built 1963 2 beds 1 baths ∙ 923 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.48
    •  
  • 294 Leland Terrace Atlanta, GA 1
    • 2 beds 1 baths ∙ 1,133 Sqft ∙ Built 1966 2 beds 1 baths ∙ 1,133 Sqft ∙ Built 1966
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.84
    •  
  • 984 Sycamore Drive Decatur, GA 2
    • 2 beds 1 baths ∙ 1,098 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,098 Sqft ∙ Built 1947
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.18
    •  
  • 2323 Desmond Drive Decatur, GA 4
    • 2 beds 2 baths ∙ 1,092 Sqft ∙ Built 1950 2 beds 2 baths ∙ 1,092 Sqft ∙ Built 1950
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.28
    •  
  • 996 Sycamore Drive Decatur, GA 5
    • 2 beds 1 baths ∙ 1,152 Sqft ∙ Built 1947 2 beds 1 baths ∙ 1,152 Sqft ∙ Built 1947
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.30
    •  
PROPERTY LISTING DETAILS
Dominic Bamford
1.678.753.6050
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6816285
Last Updated: 12/08/2020
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.

BESbswy