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510 Coventry Road #13A Decatur, GA 30030

3 Beds 2 Baths 1,139 sqft Built 1963

$224,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
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

MARKET HIGHLIGHTS

  • #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

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
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

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

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$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$781

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

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
$1,850
1$1,8502$1,8803$1,9954$2,1005$2,650
$2,650
RENT COMPS ANALYSIS
  • 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
Mary Glenn Landt
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6828112
Last Updated: 01/15/2021
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. © 2017 First Multiple Listing Service, Inc.

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