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PROPERTY INFO
FACTS
- Single Family
- Built In 1963
- Price/Sqft : $197.45
- 4 Days on Market
- MLS # : 6828112
- Updated Date : 01/15/2021 at 08:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,139 sqft
- Baths : 2 full
Listing Agent's Description
Great condo in the City of Decatur. New floors, new kitchen, tankless water heater. View of Peavine Creek. Lots of storage, large closets in every room. Screened in patio. Close to Emory, VA Hospital, Downtown Decatur, Marta. Easy access to major interstates. Walkable neighborhood. Professionally landscaped grounds. Perfect for families or professional students.
SEE MORE
- #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)
- 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).
- Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
- #1 World’s Busiest Airport(Airports Council International, 2018)
- #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
- Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
- #1 Moving Destination in the Nation (Penske, 2018)
PRICE & RENT TRENDS
Neighborhood: Chelsea Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Chelsea Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,880 |
| EXPENSES | Loan Payment | -$781 |
| Property Tax | -$265 | |
| Property Insurance | -$49 | |
| HOA | -$325 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$341
|
||
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.
$224,900
PROJECTED PRICE
$1,880
PROJECTED RENT
0.84%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$65,349
LOAN DETAILS
$781
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $56,225 |
| Loan Amount | $168,675 |
11.17
YEARS SAVED
$37,552
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,880
LIST RENT -
$1.65
LIST RENT PER SQFT
-
$1,982
COMP ESTIMATED VALUE -
$1.74
COMP AVG. RENT PER SQFT
Comps Range
-
510 Coventry Road Decatur, GA 2
- 3 beds 2 baths ∙ 1,139 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,139 Sqft ∙ Built 1963
- Rent
- Rent Per SQFT
- $1,880
- $1.65
-
205 Murray Hill Avenue Ne Atlanta, GA 1
- 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1968
LEASED 10/02/20- Rent
- Rent Per SQFT
- $1,850
- $1.85
-
1891 Edinburgh Terrace Ne Atlanta, GA 3
- 3 beds 1 baths ∙ 1,216 Sqft ∙ Built 1946 3 beds 1 baths ∙ 1,216 Sqft ∙ Built 1946
LEASED 07/31/20- Rent
- Rent Per SQFT
- $1,995
- $1.64
-
538 N Superior Avenue Decatur, GA 4
- 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1955
LEASED 06/19/20- Rent
- Rent Per SQFT
- $2,100
- $1.59
-
478 Pensdale Road Decatur, GA 5
- 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1950
LEASED 08/19/19- Rent
- Rent Per SQFT
- $2,650
- $1.88
PROPERTY LISTING DETAILS
1.866.250.5610
RentVest Georgia LLC
H-75957
MLS #: 6828112
Last Updated: 01/15/2021
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.
