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510 E Ponce De Leon Avenue E #T Decatur, GA 30030

3 Beds 3 Baths 1,743 sqft Built 1974

$260,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $149.17
  • 3 Days on Market
  • MLS # : 6840026
  • Updated Date : 02/13/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,743 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Sough after location, 3/3 townhouse with a basement, within a half mile of the Decatur Square. Quiet, large townhouse that backs up to a private woods. Open and bright floorplan includes two beautiful masonry fireplaces. Generous kitchen includes breakfast bar, spacious countertops, plentiful cabinets and more! Oversized master bedroom with beautiful views contains and large closet. Large basement with built-in shelving and fireplace. Walking distance to Decatur Square with great restaurants and shopping. Decatur Marta station a short walk away. Prime location insi

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: Glennwood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500kPrice in $90k520k

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

Neighborhood: Glennwood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $8802924

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

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

Renfroe Middle School

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

$234,000$286,000$260,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$903
Property Tax -$619
Property Insurance -$61
HOA -$280
Property Management Fees -$119
CASH FLOW
$138

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.

$260,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.09%
Appreciation Year (1-5) 8.8%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$14,680

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,379

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,1003$2,1204$2,3005$3,150
$3,150
RENT COMPS ANALYSIS
  • 510 E Ponce De Leon Avenue E Decatur, GA 3
    • 3 beds 3 baths ∙ 1,743 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,743 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.22
    •  
  • 697 Willivee Drive Decatur, GA 1
    • 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1956
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.26
    •  
  • 594 Densley Drive Decatur, GA 2
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1956
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.26
    •  
  • 260 Greenwood Circle Decatur, GA 4
    • 3 beds 3 baths ∙ 1,716 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,716 Sqft ∙ Built 1994
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.34
    •  
  • 117 Hillcrest Avenue Decatur, GA 5
    • 4 beds 4 baths ∙ 1,969 Sqft ∙ Built 1994 4 beds 4 baths ∙ 1,969 Sqft ∙ Built 1994
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.60
    •  
PROPERTY LISTING DETAILS
Martini Johnson
1.404.906.8906
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6840026
Last Updated: 02/13/2021
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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